BitcoinLong
Bitcoin Bottoms and Tops ( Future Price Movement)
Hi Guys , i was interested to Bitcoin where the Tops and Bottom are,or why was the top at 19k in dec 2017 and not 30k or 40k well i analysed the chart a bit and im also surprised how it developed since the start. OK lets GO and i tell you what i found here in the Charts.
First the Chart is in log scale. Yellow lines are the halving events.
In the first cycle i looked into the date range oct 11 to january 13, it looks like Bitcoin settled up first nicely a uptrend (Green Trendline), no huge pumps and slowly rising. Finally after halving, it took some months to Massive Price movements for Bitcoin.
Well now we come to the interesting PART
The second and third cycle looks also similar, after breaking every Supportline(RED arrows) if it comes down from ATH we builded up the Bottom for Bitcoin, the range how much bitcoin takes to bottom out is different.(mostly 10-14 months) and started to build up a new uptrend with supportline, slowly till halving event. When the halvings finally happened it took generally some month to start massive Pumps. It looks like halving events are the real catalyst for massive Price Pumps and leading to new ATHs.
NOW, when we look ,where are the Tops and Bottom for Bitcoin ? we have to look into second cycle, we can see that the green trendline from the the first cycle acted in the second cycle the ATH top in dec 2017. when we came down to the uptrend line in the second cycle , we broke it, formed bottom, but rallied here to the previous support line from the second cycle which was the local TOP and acted here as RESISSTANCE. maybe coincidence?
well lets have a look into the third cycle. we broke the uptrendline from the second cycle. spent some time here at same levels but suddenly we pumped here again but the local top was again the previous trendline from the second cycle. it acted here clearly as ressistance and we dumped till the halving event. After this the real Pump occured on Bitcoin which was lead to over 60k. But why we stopped at 60k? well again the previous uptrend line from the second line acted here as ressistance.
The fourth cycle which we are in now , i think we formed the bottom. because the date range compared to previous cycles are similar 10-14 months.The next step is now the possible scenarios that i will write down.
What i think about Bitcoin is that, we cant really know how much Bitcoin can go down after we breakdown the trendline, but it looks like we formed now finally the bottom.
Possible scenarios:
1. Bitcoin pumping to the Third Cycle Uptrendline which will act as ressistance again and dumping till halving to form the new uptrend line. After Halving we see the real Pumps. Price target here would be : 60-75k, then we dump till halving, we rise after halving slowly and building up the new uptrend line and pump again to the previous Trendline from the third cycle which would be Pricetargets over 200k+
2. we rising slowly and building up now the new uptrend line till halving and then seeing Massive price movements above 200k.
Maybe this Idea answers you why we stopped at excactly 19k and 64k and not on different prices.
NFA
First the Chart is in log scale. Yellow lines are the halving events.
In the first cycle i looked into the date range oct 11 to january 13, it looks like Bitcoin settled up first nicely a uptrend (Green Trendline), no huge pumps and slowly rising. Finally after halving, it took some months to Massive Price movements for Bitcoin.
Well now we come to the interesting PART
The second and third cycle looks also similar, after breaking every Supportline(RED arrows) if it comes down from ATH we builded up the Bottom for Bitcoin, the range how much bitcoin takes to bottom out is different.(mostly 10-14 months) and started to build up a new uptrend with supportline, slowly till halving event. When the halvings finally happened it took generally some month to start massive Pumps. It looks like halving events are the real catalyst for massive Price Pumps and leading to new ATHs.
NOW, when we look ,where are the Tops and Bottom for Bitcoin ? we have to look into second cycle, we can see that the green trendline from the the first cycle acted in the second cycle the ATH top in dec 2017. when we came down to the uptrend line in the second cycle , we broke it, formed bottom, but rallied here to the previous support line from the second cycle which was the local TOP and acted here as RESISSTANCE. maybe coincidence?
well lets have a look into the third cycle. we broke the uptrendline from the second cycle. spent some time here at same levels but suddenly we pumped here again but the local top was again the previous trendline from the second cycle. it acted here clearly as ressistance and we dumped till the halving event. After this the real Pump occured on Bitcoin which was lead to over 60k. But why we stopped at 60k? well again the previous uptrend line from the second line acted here as ressistance.
The fourth cycle which we are in now , i think we formed the bottom. because the date range compared to previous cycles are similar 10-14 months.The next step is now the possible scenarios that i will write down.
What i think about Bitcoin is that, we cant really know how much Bitcoin can go down after we breakdown the trendline, but it looks like we formed now finally the bottom.
Possible scenarios:
1. Bitcoin pumping to the Third Cycle Uptrendline which will act as ressistance again and dumping till halving to form the new uptrend line. After Halving we see the real Pumps. Price target here would be : 60-75k, then we dump till halving, we rise after halving slowly and building up the new uptrend line and pump again to the previous Trendline from the third cycle which would be Pricetargets over 200k+
2. we rising slowly and building up now the new uptrend line till halving and then seeing Massive price movements above 200k.
Maybe this Idea answers you why we stopped at excactly 19k and 64k and not on different prices.
NFA
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