BITCOIN TO $500,000 OR $1,000 - CryptoManiac101
Updated
BTC / USD TA by CryptoManiac101
What we are looking at on this chart are 3 possible tracks for Bitcoin for 2019 and moving into 2020. We also are looking at likely dates of when we might see next immense bull run beginning and look at worst case scenarios.
Let's start off with worst case scenario which would be Bitcoin penetrating through support at which we currently are located of $3,400 (this month) and $3,900 (February) and $4,000 (March) If that happens we will be in a free fall down to our support zones at $2,800 - $2,500 - $1,800 and finally $845 which is our lowest possible support according to our trend line. Now before you start setting up your shorts, please note that this is one of the unlikely scenarios and at time of writing this, I only see $2,800 as a possible new low, but again, chances are somewhat slim on that If we manage to stay above our trend line.
Let's now take a quick look at PROJECTION 'C' which depicts a slower growth finding bottom around $2,800 area followed by some lengthy sideways movement and setting up for first uptrend around March of 2020 - this scenario is likely if we see continued delay in regulation, institutional investor entry, Bakkt, Fidelity, Nasdaq delays and similar to those issue.
Now we go into PROJECTION 'B' which depicts regular growth speed and in a way mimics similar movement to what we've seen from 2012 to 2018 - Now do keep in mind that today we're faced with slightly different market and with Bitcoin finally hitting on the doors of numerous governments, bankers and regulators we might not require such a lengthy accumulation phase. Also keep in mind that there are good chances that we see ETF approved this year around mid to end of 2019 but that's again, just speculation on our part with inclusion of few inside sources.
Finally, let's look at very positive PROJECTION 'A' which accounts for rapid regulation releases in Q1 of 2019, on schedule BAKKT, NASDAQ and FIDELITY crypto exchanges going live and institutional money pouring into crypto market and those OTC sales finally getting reflected on market caps.
That's mostly all we wanted to say in this chart + article and from this point let's monitor that area of support and resistance and see if we have breakout moving into February to March this year as we see regulators finally setting up for few bills next month.
Comment with any questions or feedback as we always welcome it! Thank you for taking your time to look and read through what we had to show and say and we wish all of you a great 2019! #financialreset
Oh yeah, also this is in no way a financial advice, just our review of current market and our personal projections for this and next year.
What we are looking at on this chart are 3 possible tracks for Bitcoin for 2019 and moving into 2020. We also are looking at likely dates of when we might see next immense bull run beginning and look at worst case scenarios.
Let's start off with worst case scenario which would be Bitcoin penetrating through support at which we currently are located of $3,400 (this month) and $3,900 (February) and $4,000 (March) If that happens we will be in a free fall down to our support zones at $2,800 - $2,500 - $1,800 and finally $845 which is our lowest possible support according to our trend line. Now before you start setting up your shorts, please note that this is one of the unlikely scenarios and at time of writing this, I only see $2,800 as a possible new low, but again, chances are somewhat slim on that If we manage to stay above our trend line.
Let's now take a quick look at PROJECTION 'C' which depicts a slower growth finding bottom around $2,800 area followed by some lengthy sideways movement and setting up for first uptrend around March of 2020 - this scenario is likely if we see continued delay in regulation, institutional investor entry, Bakkt, Fidelity, Nasdaq delays and similar to those issue.
Now we go into PROJECTION 'B' which depicts regular growth speed and in a way mimics similar movement to what we've seen from 2012 to 2018 - Now do keep in mind that today we're faced with slightly different market and with Bitcoin finally hitting on the doors of numerous governments, bankers and regulators we might not require such a lengthy accumulation phase. Also keep in mind that there are good chances that we see ETF approved this year around mid to end of 2019 but that's again, just speculation on our part with inclusion of few inside sources.
Finally, let's look at very positive PROJECTION 'A' which accounts for rapid regulation releases in Q1 of 2019, on schedule BAKKT, NASDAQ and FIDELITY crypto exchanges going live and institutional money pouring into crypto market and those OTC sales finally getting reflected on market caps.
That's mostly all we wanted to say in this chart + article and from this point let's monitor that area of support and resistance and see if we have breakout moving into February to March this year as we see regulators finally setting up for few bills next month.
Comment with any questions or feedback as we always welcome it! Thank you for taking your time to look and read through what we had to show and say and we wish all of you a great 2019! #financialreset
Oh yeah, also this is in no way a financial advice, just our review of current market and our personal projections for this and next year.
Trade active
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Note
Double bottom scenario with bounce around current levels is what I would be looking at longingNote
ETH looks good with downward wedge - keep in mind that high risk equals high reward and wise versa hahaTrade active
Trade active
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