Global markets are at the end of a leveraging cycle. The next phase is a deleveraging, beginning with deflation, and ending in hyperinflation.
1. Deflation: cash is king, value will be stored in USD. This is estimated to last 10 - 15 years.
2. Hyperinflation: The purchasing power of cash degrades, people will seek alternative means to store their value. Bitcoin...
Price appears to have completed a 3 gap sequence. The exhaustion gap is likely to be filled, while the runaway could provide short term support.
Long term I expect a steady bear market to form for approximately 10 years, until $1000 is reached.
This would constitute an extended B wave, suggesting a very strong correction after reaching the target. Caution should be taken since the market is over leveraged and will fall hard when it finally corrects.
Stop Loss: 29199.0
Green box = demand zone at 4th wave and 50% retracement , providing long opportunity.
Diagonal lines = upper and lower thirds of Fibonacci fans.
Vertical lines = Fibonacci time zones with 0 at Nov '18 and 1 at Jun '19.
Horizontal lines = key levels of Fibonacci retracement from $1,000 to $20,000.
Stop Loss: 8887.0
Head and shoulders visible on the weekly chart. Pattern has been confirmed with a neckline break and now appears to be completing the return move.
Stop loss above head, target projected from height of head placed at neckline break.
This is an update to my post outlining a 10 year trade plan for Bitcoin. The same reasoning is applied with updated targets.
The primary target is $1,000 in 10 years.
$1,000 is expected due to the breakdown of the 2017 hyerwave - a pattern which now predicts a return to the horizontal resistance and breakout level when the bubble began.
10 years is expected...
The market appears to be in an extended ABC pattern. Price has recently touched the 1.5 horizontal extension from $1,000 to $20,000 (yellow), as well as the 1.33 and -1 diagonal extensions (blue) - indicating a potential top.
White bar pattern represents the correction from $20,000 to $3,333 (white box). This was placed with the high at the current price and the...