Bitcoin has chosen! Now: How low will it go?So, as I feared BTC did choose not to respect the 4200 support line, that many hoped would be a magical Gandalf Mana shield barrier or something XD
No, as predicted, trendlines don't count a lot in BTC, since the support is more akin to a squareroot function in the log chart.
Therefore, we can go quite lower, without breaking the longterm bulltrend.
The question now is how long, and when?
Considern the fractal analysis with 2014/15, we're a bit slower now, lagging behind 2 months, which makes sense, since the market has grown a lot since then.
It cannot be faster, because more people are in BTC, therefore the inertia is higher, BTC behaves like a physical system.
We therefore can point the date of the final low to March 2019.
Now, how low?
Hard to see, but the super strong bulltrendline since 2010, the SQRT support, lies somewhere around 1900. Of course, it can go below that, even to 1200, and then bouncing
strongly. It only depends where the weekly candle will close, and I am sure we'll see an epic bounce with insane volume on that day.
How low exactly I cannot tell, but somewhere in the area 2000, and as low as 1200.
Distributing the buy orders will be a very good idea then.
Daily RSI is insanely oversold, we'll see an epic bounce today from 3000, the weekly might even close above 4000 again.
And we see, that BTC gravitates towards the old ATHs again. Did it almost in mid 2013, did it in 2015, and probably will either do it again,
or at least come very close to that region.
Be prepared, and make some good profit on that day. It will be a last chance to get into BTC at these prices, before the next bullrun in 2020 starts,
taking us to the top of 100K.
