Today's bullish breakout is a new historic milestone for Bitcoin!
Indeed, this breakout eliminates the threat of a double top at $ 58k
AND it validates a "Cup & Handle" pattern with a target at $ 75k !
The rebound on the 60% BTC dominance threshold has indeed taken place, see my 1st related idea.
Also, I have already demonstrated to you several times the...
Men - and Albina, Mouchka, Laïka - have never gone further than on the moon.
Thanks to Elon Musk for warning his followers with his tweet "On the actual moon"
...that Doge has reached the extreme top of his speculative bubble,
and it's time to come back to Earth.
End of the joke!
The Bitcoin dominance, until then close to 100%, took off the road in 2017 with real Tulipomania, sorry, I meant: Altcoinomania.
I don't invent this burlesque qualifier of Alcoinomania by chance!
It was indeed a very intense and short-lived speculative bubble ...
... like Tulipomania, the first crash in history (1636-1637).
From the ATH of altcoins dominance...
As my title indicates, this plot highlights facts above all:
- Bitcoin price follows "Square Root" channels (SQRT function)
- All with an alternation of local Dips (each time higher than the previous ones) and new All Time High (ATH)
- These cycle Dip always materialize by an RSI 14 under a value of 34, showing an oversold (see my analysis of 2018-12-18 in link...
Additional informations for my idea of October 12, 2019 (see Related Ideas) on Bitcoin :
1) 200-day Mobile Average (MA 200) as a bounce zone this year end at $ 6,000.
2) Descending Triangle of my previous idea replaced by a Bearish Parallel Channel: what I interpret as being a big Bullish Flag under construction, like those of the previous 2 speculative bubbles,...
By this brief unpretentious technical analysis, neither bullish nor bearish, I would like to simply answer the argument of the day, emitted by several Fomo-boys on social networks! =)
For them, having crossed the trend line, even briefly, is proof that Bitcoin is now bullish again and that this bearish trend line no longer exists. o_O
Do not give in to this song...
I have rarely found such clear and bullish chartist signals on an asset, moreover on the reserve of value to possess, gold.
1) Short-term small Falling Wedge: first short-term bullish target, see graph on the right.
2) Ascending Triangle, drawn in red on the left graph: 2nd Bullish target, the most obvious in my opinion!
3) Large Falling Wedge, drawn in blue on...
French-Chinese company created in October 2016 with deployment of their RLC token in April 2017,
which proposes to extend the reduced capacity of Ethereum for the decentralized Cloud.
The different types of actors in this marketplace, namely applications, servers, datasets, are supposed to value their resources in RLC, that is to say, to gain RLC as a server...
One of my last publications was a bearish continuation Descending Triangle, shown in red, whose $ 6,000 target has still not been reached.
Target at $ 6000 which is confirmed in my opinion by the appearance in the meantime of a Falling Wedge shown in blue on my graph.
But the main information is that the year 2020 seems to me to be the year of a new bullrun for...
My view of the Bitcoin chart is that we are in the presence of a bearish continuation descending triangle whose target deducted from its height is sub-$ 7k before the end of the year.
On the long-term scale, we have already benefited from a rebound on December 15, 2018 of surgical accuracy on the MA 200 (moving average), exactly like January 10, 2015 (see my...
I propose a new trade to take if this chart pattern, a descending triangle in a bearish continuation, is confirmed.
Of course, do not position yourself in Short until the bearish exit is validated.
This possibility is part of the background bearish trend of a larger descending triangle validated in my previous technical analysis, see link associated hereafter.
BitTorrent is a pair-to-pair transfer protocol that had its moment of glory between 2006 and 2008, to overcome the problem that was once a very unfavorable transmission rate compared to the reception rate.
It was thus a very popular sharing solution to answer this problem a dozen years ago: in 2006, between 60 and 70% of the bandwidth...
There are supporters of determined HODL, which really only benefits the early adopters.
Because buying late, for example 2 years ago, that is to say end of 2017, and selling nothing in 2018-2019, is already better than 90% of traders, certainly. But it is hardly better as a result of a classic passbook, the risks and stress in addition.
On the contrary (even if...
It is not a prediction (crystal ball, where are you?), But simply answer the question: is it possible and under what conditions?
My graph on the left shows that Bitcoin would "be enough" for a valuation increase like the one known in 2019 to reach $ 1 Million per unit at the end of December 2020, satisfying the well-known predictions of John McAfee or Jesse Lund...
I take Ethereum as an example, but both in terms of fundamental analysis and technical analysis, it is for me 99% of altcoins that are at the end of life, if not already dead and buried since my announcements of June.
I do not say 100%, because in my opinion there remains a hope, and even an interesting bullish potential, for the few crypto that share the same...
Back from vacation, I re-open Tradingview... here's what inspires me the current Bitcoin graph!
First, graph on the left: the bullish breakout validated tonight with a small ascending triangle, target: $ 11500
Secondly, graph on the right: a possible symmetrical triangle of bullish continuation within a big cup of which I often spoke to you, target: 19500...
With the presence of a possible Ascending Triangle, and possibly an Inverted H&S:
the price could go looking for the top of the Parallel Channel @ $ 12,350
DISCLAIMER: You alone are responsible for your positions.