BitcoinLong
A cisco moment for Bitcoin
Updated
History may be repeating for Bitcoin
Bitcoin price is taken a nose-dive since the all time high last December. Other altcoins such as Ethereum, Litecoin, Ripple have seen similar price falls.
The searches for Bitcoin, buy btc, how bitcoin works, bitcoin, invest bitcoins have halved across all search engines during the last few months and the trend is bearish for searches on Google for trading bitcoin.
What did the router do for the internet? Two lovers from Stanford University wanted to send messages to each other but worked in separate builidings.In 1984 computers could not communicate with each other as they used different languages. Sandy Lerner & Leonard Bosack realized that to be able to communicate over the internet they would need to develop protocols. This is how the router was born.
Routers are what makes the internet work. When Cisco systems was launched in 1993 it grew its sales from $650 M to 48.57B to date.
During this time Cisco's share price has had seen several major corrections. July 1990 saw a 40% correction, 1994 price fell 54% & in 1997 42% decline in share price.
If you were a share holder and you sold in the rough weather during the corrections you would be regretting not holding this stock as a megre investment of $400 would now be worth approximately $378,960.
Bitcoin or blockchain is about to experience a Cisco moment. Developers are just a few months away from 'interoperability' or data exchange.
Blockchains cannot 'talk' to each other yet. Once this occurs we will see an unprecedented boom similar to that of the 1990's.
The sell off we have just seen is good for any investor that has been waiting and missed the run up from Aug to Dec 2017.
Bitcoin Trade set-up
During the last 24 hours price has stablised. A Bullish change of Trend often called a double bottom is forming where we saw Bullish behaviour during the previous low on the 8/2/18 & tested 13/11/17 just before price headed up to the Dec high. Three's a chime.
Using the 4hr chart price relationships to confirm our entry;
0.786 fibonacci retracement level on the DAILY chart 3036 low to 19709 high.
1.1618 extension of the last bearish swing 11794 high to 8388
1.0 projection of the 11794 high to the 6020 low.
retest of daily support
Overlapping targets are for the price projection are;
13318 = 1.270 extension projected from 6474 to 11794
13231 = .382 retracement level from 3036 to 19709
13221 = 1.0 projection from the swing high 12994 to the low 592
Bitcoin price is taken a nose-dive since the all time high last December. Other altcoins such as Ethereum, Litecoin, Ripple have seen similar price falls.
The searches for Bitcoin, buy btc, how bitcoin works, bitcoin, invest bitcoins have halved across all search engines during the last few months and the trend is bearish for searches on Google for trading bitcoin.
What did the router do for the internet? Two lovers from Stanford University wanted to send messages to each other but worked in separate builidings.In 1984 computers could not communicate with each other as they used different languages. Sandy Lerner & Leonard Bosack realized that to be able to communicate over the internet they would need to develop protocols. This is how the router was born.
Routers are what makes the internet work. When Cisco systems was launched in 1993 it grew its sales from $650 M to 48.57B to date.
During this time Cisco's share price has had seen several major corrections. July 1990 saw a 40% correction, 1994 price fell 54% & in 1997 42% decline in share price.
If you were a share holder and you sold in the rough weather during the corrections you would be regretting not holding this stock as a megre investment of $400 would now be worth approximately $378,960.
Bitcoin or blockchain is about to experience a Cisco moment. Developers are just a few months away from 'interoperability' or data exchange.
Blockchains cannot 'talk' to each other yet. Once this occurs we will see an unprecedented boom similar to that of the 1990's.
The sell off we have just seen is good for any investor that has been waiting and missed the run up from Aug to Dec 2017.
Bitcoin Trade set-up
During the last 24 hours price has stablised. A Bullish change of Trend often called a double bottom is forming where we saw Bullish behaviour during the previous low on the 8/2/18 & tested 13/11/17 just before price headed up to the Dec high. Three's a chime.
Using the 4hr chart price relationships to confirm our entry;
0.786 fibonacci retracement level on the DAILY chart 3036 low to 19709 high.
1.1618 extension of the last bearish swing 11794 high to 8388
1.0 projection of the 11794 high to the 6020 low.
retest of daily support
Overlapping targets are for the price projection are;
13318 = 1.270 extension projected from 6474 to 11794
13231 = .382 retracement level from 3036 to 19709
13221 = 1.0 projection from the swing high 12994 to the low 592
Note
Correction to date ... low on the 8.2.18 and 11.12.17 Thank you astrologychick for pointing out my error.
Trade closed: target reached
Target has been reached.Trade active
I have still remained int his trade as my trade plan is to hold BTC for the long-term like Superannuation. Clearly you would take some off the table once this level was reached.
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