First lets look at Price
Scenario 1-Mirrors 2014-2015 crash where bitcoin went somewhat mainstream (but still not too well known contrary to 2017 )to some degree.
-Price did 1168$ to 153$, a decrease of 87%
-Using the bit stamp bitcoin price high of 19665, a decrease of 87% will be $2555
Scenario 2-Mirros the worst bubble of all time, 2011, where we did a -93.7%...
Bitcoin medium term outlook (2-4 weeks) is quite bearish for the following reasons
- 1 week targets would be 4600-4700
-A break of the trend line of 4700 could see us head to 4100-420
-2-4 week targets would be 3-3.5k
-Long term 1-2 months, I expect us to hit the bottom of the channel , which is around 2K area
1.TD Sequential hit 9 on the Weekly. While in strong...
Bitcoin cycle 1,
23 weeks bear/48 weeks bull=0.47
Bitcoin cycle 2
61 weeks bear/106 weeks bull=0.575
Bitcoin Cycle 3
-22.34% increase in the ratio, so we would do 0.575x1.22=0.7015 ratio
so 0.7015x152=106.6 as the the bottom, or weeks 107 basically for the bottom, which would be
between Dec 2019-Jan 2020
To be on the safer side it would be best to Dollar...
This pattern is good on the daily time frame and 4 hour time frame. The pattern to look for is a symmetrical triangle: which is done by seeing lower highs and higher lows. You go long if it breaks to the upside of the symmetrical triangle and holds above the triangle resistance line for at least 12-16 hours, or go short if breaks to the downside of the triangle...