Bitcoin is currently printing a 2nd inside bar for us to decide which way Bitcoin may break.
Watch for a break if we move past the high of $13,387.30 or the low of $13,149.43 from the previous inside bar.
Whether we break bullish or bearish, I would still expect us to stay within the broader tightening equilibrium pattern for now.
Current equilibrium resistance...
This monthly view shows that Bitcoin is at a pivotal price to position itself to reach the all time highs from 2017.
My projection, based on timing of previous 4 year cycle is that this could take place by March/April of 2021.
In July, we broke out of the long term down trend (see gold trend line) and have retested it and seem to be breaking out convincingly,...
Bitcoin is in process of trying to break the 2019 High. Last night was just the first attempt. Not a doom and gloom scenario by any means.
We had an expected pullback just ~$5 short of last year's all time high of $13,868.44 with a healthy pull back to the $13k range.
I fully expect there to be more attempts to break this in the near term.
It's possible we...
Next week is election, there is uncertainty in markets all around. So why Bitcoin?
What we know:
People want to make a return on their investments/savings.
Banking Interest rates are nearing 0. --> Why would I keep my money in a savings account that is losing to inflation.
We keep pumping money into a stock market to keep it afloat. --> I have money invested in...
Bitcoin is 11 years old and is already changing the world of finance. I see Bitcoin reaching it's previous All Time High by March/April of 2021. If it happens sooner or later, that's fine. I'm confident this is only the beginning for Bitcoin.
In July 2020, we finally broke out of that nasty bear trend going back to the high from December 2017. We retested that...
After a recent big move up, it looks like we may continue in an equilibrium pattern for the short term.
Waiting for a break of the equilibrium pattern to determine direction. We will want to see volume come in to confirm the break of this pattern.
With all of the positive news including Grayscale's recent purchase of $300 Million, I expect we will continue to...