we all know that Bitcoin is in parabolic curve.
And parabolic curve ends with higher impulse after touching the base line for minimum 3 times.
Currently we sit just around 30k levels and it might go sideways for a day or two, before Bitcoin
will make a last impulse run before correction. I made a model showing the potential near future movements.
We all expect long cycle, but it might be shorter than we think.
This chart shows us previous Bitcoin cycles and almost everytime it ended around round numbers ($1000, $20,000), so $100,000 might be strong psychological resistance.
Lately I was active mostly on Twitter, but found a little time to post a chart here as well.
So Bitcoin is in a channel which we can see and also it formatted a bullish pennant.
From here I'm expecting bounce up and re-test of upper parallel channel line. This is also where I will take my profit for now.
I wish you all pleasant Christmas !
Nobody really knows what will happen to Bitcoin.
We can present bullish, ultra bullish or even bearish scenarios.
But if we decide to consider history cycles and elliot impulse waves and elliot correction wave, we get what's on this logarithmic chart.
A peak of ~150k per one Bitcoin in autumn 2021.
What are your thoughts?
We have talked about this coin in the past and it brought us amazing returns. Amazing to be modest.
Now the team is developing new features and they partnered / integrated Apple pay, to directly purchase crypto tokens on their website. Among Mastercard and Visa, and so on.
So fundamentals are rock solid. From TA perspective too.
RSI is in reversal....
long time no see. Was busy on twitter lately.
We can see rejection by upper parallel channel line which usually push price down to the lower parallel support line.
Margin traders would open a "short" position here.
From there, most likely is re-test of 12k levels, but too soon to tell
Bitcoin has shaken the market in the last 3 weeks.
Corretion made altcoins bleed, weak hends sell and now IMO is time for a reversal.
10k acted like strong support again and Bitcoin didn't fail to go under dynamic 3y trendline.
So feeling positive about it.
Indicators and patterns are good too.
So Bitcoin is showing some strenght, or at least faking it, which usually make altcoins bleed. Even the biggest altcoin - Ethereum.
What to do in these situations?
Well, we need to set few lines and observe price action. In my case I'll observe if:
- the price wil follow dynamic support, and bounce from it, I'll be confident in buying*
- the price will...
Do you remember the old days, when Litecoin was one of the most desirable Altcoin?
Also announcer of alt season, or Bitcoin's movement?
Well, LTC is now forgotten one. New hyped popular coins overtake his position in top5.
Why does this matter? Because LTC still has lots of retail investors who never forgot that they were adviced to sell it before marked...
2020 hyper coin Link has its first significant correction.
What changed after a DeFI crash? Well, to be honest nothing has changed. People are still loving Link and generally it is still one of the most popular investemen assets in 2020.
So sentiment is okay, people are looking what Bitcoin's next moves will be. And from TA, as it shows on a chart. Bitcoin...
Don't have a lot of time to explain the chart as I usually do.
We can see rapid market these days. ~3,5% hourly movement for ethereum and also a fight between bulls and bears for Bitcoin.
Can 10k hold, oh it can't. Can we touch 9600 to be done with stupid gap? oh we can't.. Manipulations at it's finest.
But I think we will touch it, and then see strong...
I posted about XLM before
Stellar had it's momentum, but was overshined by DEFI mania which soaked the money from it.
But XLM will be here to stay as one of most prominent high tier altcoins
This chart shows short term plan