if this scenario unfolds, we should have 3.6 -3.7k as minimum, about minimum 6-7k in summer 19 and 10-11k minumum in beginning of 2020 from where btc can start next rise due to halving in 2020. watch those levels.
Now that I stole your attention - no, not yet. But hey, its just about to reach this cross resistance I discovered on the chart. I mean, that must probably mean something, right? Im carefully bullish. Trade on your own risk. good luck!
Chart is pretty much self explaining. Those are 2 ideas for this year developments.
Just a few remarks about latest FuD:
- China market closure - The "China banned Bitcoin" Shitshows goes on for years now. First time when it dropped 60% from November 2013 peak due to "china is banning bitcoin" anouncement. China finally closed their market for Crypto Trading...
After the long awaited correction turned out way weaker then expected, it looks by now as if it could have just been a smaller midterm correction in an still intact upward trend instead of a major correction. Lookout for a break of 14500 - 14800 level. Then we could be in for another push upwards past 20k levels.
Not much new to report here. Long term forecast proved quite correct so far so I just some minor adjustments to include latest developments.
Chart shows quite ambitious mid term goals. To summarize, if we can trust this analysis -and I myself consider it very ambitious as I found my one from January - we should leave long term accumulation phase soon to enter mind...
Update of my previous log trend charts. Enjoy further grow the next months. watch out for temporary sharp corrections. Take profits regularly and be very careful with shorts now. Enjoy.
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We overshot the long term trend the last days as expected in my last charts. Possible short term correction to 1200-1300 levels likely but not necessarily. Long term trend upward will stay intact. Good trading guys.
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we are returning to long term main trend. If you want to know how this looks like, go to 1Week LOG chart (not linear chart!).
This is my idea of the developments within the next days based rather on experience then on TA. I would expect a temporary sharp correction either shortly below 1300 or between 1300 and 1350 level due to profit taking, price oscillation...