Updated longterm chart: BTC always bullish
Updated
With all that doomsday feeling going around, I thought I'd update my older longterm chart, with updated, more precise price action.
It still seems that the bottom will be in the low 2000s area, sometime in march/april 2019, then a longer flat period, before the next bullrun.
This time, I looked at the ratio of the previous ATHs to each other, the factors are decreasing apparently each time.
If we'd continue this decreas of x2,25 of new ATH compared to previous ATH, we'd arrive at x7,15 increase over the previous ATH, leaving us at a 143K peak.
Of course this is not super precise, but it indeed is interesting to see, that it would match the resistance connecting the peaks with a curved resistance line, which also points to 100-150K.
So, we'd hopefully go to 3k now, weekly MA200, bounce there, go to 2200-2600 in March/April, then flat, then next bullrun and peak in 2021 with ATH at 100-150K.
I chose long on this one to emphasize that longterm, I am always long :)
So, patience and always think longterm ;) Then you'll have a lot of fun in 3-4 years time, hehe!
It still seems that the bottom will be in the low 2000s area, sometime in march/april 2019, then a longer flat period, before the next bullrun.
This time, I looked at the ratio of the previous ATHs to each other, the factors are decreasing apparently each time.
If we'd continue this decreas of x2,25 of new ATH compared to previous ATH, we'd arrive at x7,15 increase over the previous ATH, leaving us at a 143K peak.
Of course this is not super precise, but it indeed is interesting to see, that it would match the resistance connecting the peaks with a curved resistance line, which also points to 100-150K.
So, we'd hopefully go to 3k now, weekly MA200, bounce there, go to 2200-2600 in March/April, then flat, then next bullrun and peak in 2021 with ATH at 100-150K.
I chose long on this one to emphasize that longterm, I am always long :)
So, patience and always think longterm ;) Then you'll have a lot of fun in 3-4 years time, hehe!
Comment
I maybe should add that this doesnt mean that we can go even lower. A quick flashcrash spike towards 1200, the previous ATH, would not destroy this scenario, if we get a strong bounce and the weekly closes again above the curved support trendline. Only a drop below the curve, without strong bounce would be a bearish sign (which I think won't happen)Comment
It perfectly hit the support line with the crash to 3800. So we could still see this scenario materialize. The longterm trend is still intact. It will of course stronlgy depend how fast and how strong inflation will be in this crisis.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.