Bitcoin Bull Market at $5,000
Hi guys, this is the first Bitcoin trade idea I have published - so you are more than welcome to shoot it down all you like.
The bears are losing their power in the market, but I think there will be one last move downwards to the $5,000 level. My reasons are as follows:
- There has been a very strong upwards trend-line (beginning at Point A) that price accurately touches 5 times on this graph. In my opinion, the price needs to touch this line again before it can proceed to build on
historic growth.
- There are also 5 horizontal lines drawn on this graph at prices 1,250 - 2,500 - 5,000 - 10,000 and 20,000 (It doesn't take a genius to see a pattern).
- As you can see, Point B, is marked around the early months of 2019. This is also around the time when the Bakkt and Bitcoin ETFs are predicted to drive growth - after providing a framework, which will provide
safety for retail and institutional investors.
Bearing this in mind, at the end of the day no one can make the decision to invest but you - losses can exceed initial deposits
The bears are losing their power in the market, but I think there will be one last move downwards to the $5,000 level. My reasons are as follows:
- There has been a very strong upwards trend-line (beginning at Point A) that price accurately touches 5 times on this graph. In my opinion, the price needs to touch this line again before it can proceed to build on
historic growth.
- There are also 5 horizontal lines drawn on this graph at prices 1,250 - 2,500 - 5,000 - 10,000 and 20,000 (It doesn't take a genius to see a pattern).
- As you can see, Point B, is marked around the early months of 2019. This is also around the time when the Bakkt and Bitcoin ETFs are predicted to drive growth - after providing a framework, which will provide
safety for retail and institutional investors.
Bearing this in mind, at the end of the day no one can make the decision to invest but you - losses can exceed initial deposits
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