BTC not looking that bullish RN but it seems we heading for that major trendline from the ATH.
Also the timing at that point in time is also when Mt Gox is supposed to be releasing its holdings to the masses.
Will they sell or hold?
Most will be getting BTC payments that are higher then when they lost out from the hack.
Still a while to the next BTC halving & it...
My own plan to follow for the rest of this bear cycle & the coming bull run 2024
Planning to DCA in to alts when BTC hits around 12K price.
I think we are going to that price due to global market conditions & we are still early in a bear cycle to pamp from this current price of 19,800.
Of course consider the ever changing landscape as markets dictate's cryptos...
Since we are dropping so quickly to 20K so early in the bear cycle, My new thoughts for a likely target is 12K
Global markets are in a abnormal bear cycle due to many global issue's.
To keep inflation under control the governments across the world are raising interest rates & we have a very nervous global market.
Issue's arising with China &...
Just published it for a record to see how I go with my prediction.
Next BTC halving around may 2024 so bull run should have showed signs of pampu.
We need time to hit the bear cycle floor.
IMO we should see a floor by November 2022.
My prediction is around 22k floor price but thats not factoring any black events that could happen.
We normally crab for 6 months...
I am thinking that we are to early to go down to lower lows just yet.
Bear cycle needs time to play out as per past cycles it should not go straight down that quickly IMO.
Hopefully we dont have any black swan events or it could really hurt the price badly.
BTC has has hit the area of long term support from way back as far 2019.
Is this a retest of the break thru of the trend line below, only to continue on its almost 5 month old down trend?
Will it break thru & follow the trend line as support to go for new all time highs?
Also the area we are currently at is a major support & resistance zone for the last 12 months,...
The long term trend line so far has been a strong rejection zone. watching for a bear trend continuation or a bullish break out.
If we continue down my thoughts are a decent bounce at 28K.
However will it consolidate around that price range bouncing until next halving aprox March 2024?
If we drop lower than 28K then my belief is the absolute floor for the bear...
We did stop at the LONG term trend line. If it goes up from here would be EPIC.
Possibly heading to 110K for the blow off top.
However I think we will drop to 28k for long term bear accumulation until next halving march 2024.
Another possibility is that the crypto market is taking on a stocks like growth thus not allowing much of a further drop unless big...
I am thinking Bull run is def over.
Lets see if this follows my sexy pink line.. lol
My bottom bear market predictions are:
Unless we have a lge stonks drop for some reason then we could go lower.
My understanding is with the lge players that are buying for long term hodl like investment corporations ect, We should only have so much momentum...
Since the bull trend has broken we seem to be in a bear trend now.
How low will it go?
Perhaps we just consolidate in a range between 28.5K & 35.5k until deciding a new direction up.?
However I am likely thinking we are in a full bear season now.
If I Draw the fib extension all the way from March 2018 low to the November 2020 to double top.
We see the possible correction from profit taking all the way to some tops circled at 0.382 Fib @ $13,500 ish
Also you can see the long term support / resistance box fits nicely between the Fibs.
Either way I'm very bullish unless it drop below the 0.618 Fib.
With a close double top to ATH, my thoughts are a profit take from lots of old 2017 bag holders.
IMO this may correct down to old support & resistance level's around $11,000 ish.
If we break lower thru that zone box much lower price action will follow.
Lets hope we just refuel for the rocket to mars.. Early to Mid 2021?
I do notice that the June 2019 top at...
Coti is a fairly new coin that has a low market cap for now.
However Defi coins are very popular & if not one of the defining moments for crypto.
Defi has great real use case in the new way of lending & borrowing for interest.
Lend your crypto for staking for great returns Or borrow crypto to buy a car, house, business loan or investments & pay interest.
Looking at the long term movement of BTC we can see a similar pattern forming like 2 times in the past.
This may play out with a downward trajectory possible to USD$5800 over the next few months.
Covid & stocks are nearing critical level for a economic overall downward path.
Not sure if the Stock market has another fomo crash like May 12, But it could be part...
Looking at the 5 year chart with a clear direction pattern.
With the current world situation we are in for now & the near future I cant see how a major bull run will play out until this set up on the charts plays out.
What are your thoughts?