BITCOIN IN 2021. What if?
Hi everyone,
Thank you for considering reading my idea. Note that this is just for fun and not financial advice but what if Bitcoin did what happened on 2017. We'll talk about the potential ATH of 2021 and why the current price of Bitcoin as of this posting (52-53k) is the potential bottom of the next bear market.
The indicator we will be using is the "SuperTrend" indicator. It signals if it's good to buy or sell depending if it broke the support/resistance of the SuperTrend indicator.
Here, we have two weekly charts: the 2017 bull run and; the current bull run.
Let's take a look at the 2017 bull run first. Here are some of the key points:
1. On July 2015, SuperTrend triggered the BUY signal.
2. Price bounced multiple times on the SuperTrend support (See blue arrows). Here we see 5 times, at least from what I can see. I did not include the 5k drop as a bounce since we're just going parabolic.
3. As we broke the 2013 ATH, we bounced TWO times off of the SuperTrend support before going parabolic.
4. From the first bounce after we broke 2013 ATH, we rallied up to the 2017 ATH - 19,000. That's 910% increase in 22 weeks.
5. We dumped hard after for about 83% in 51 weeks.
Now, what would happen if we follow the key points mentioned to the current bullrun:
1. On July 2020, SuperTrend triggered the BUY signal.
2. Price has NOT bounced yet off of the SuperTrend support.
3. As we broke the 2017 ATH, again we have NOT seen a bounce yet
4. If we ever bounce on the SuperTrend support (currently at 32,150) and following the 910% increase in 22 weeks -- we may see Bitcoin at 340,000 as early as August 2021.
5. If we ever reach that ATH and crashed for 83% in 51 weeks, we may see Bitcoin at 53,000 on August 2022 after its ATH. Even if you buy today, you may not even close it at a loss.
Of course, I'm not saying this would happen, but what if? Thanks for reading. Happy trading!
Thank you for considering reading my idea. Note that this is just for fun and not financial advice but what if Bitcoin did what happened on 2017. We'll talk about the potential ATH of 2021 and why the current price of Bitcoin as of this posting (52-53k) is the potential bottom of the next bear market.
The indicator we will be using is the "SuperTrend" indicator. It signals if it's good to buy or sell depending if it broke the support/resistance of the SuperTrend indicator.
Here, we have two weekly charts: the 2017 bull run and; the current bull run.
Let's take a look at the 2017 bull run first. Here are some of the key points:
1. On July 2015, SuperTrend triggered the BUY signal.
2. Price bounced multiple times on the SuperTrend support (See blue arrows). Here we see 5 times, at least from what I can see. I did not include the 5k drop as a bounce since we're just going parabolic.
3. As we broke the 2013 ATH, we bounced TWO times off of the SuperTrend support before going parabolic.
4. From the first bounce after we broke 2013 ATH, we rallied up to the 2017 ATH - 19,000. That's 910% increase in 22 weeks.
5. We dumped hard after for about 83% in 51 weeks.
Now, what would happen if we follow the key points mentioned to the current bullrun:
1. On July 2020, SuperTrend triggered the BUY signal.
2. Price has NOT bounced yet off of the SuperTrend support.
3. As we broke the 2017 ATH, again we have NOT seen a bounce yet
4. If we ever bounce on the SuperTrend support (currently at 32,150) and following the 910% increase in 22 weeks -- we may see Bitcoin at 340,000 as early as August 2021.
5. If we ever reach that ATH and crashed for 83% in 51 weeks, we may see Bitcoin at 53,000 on August 2022 after its ATH. Even if you buy today, you may not even close it at a loss.
Of course, I'm not saying this would happen, but what if? Thanks for reading. Happy trading!
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