memotyka9009

memotyka9009

Bitcoin appears to be building some bullish momentum, with some interesting fractals here to monitor at a level of some significant resistance. If bitcoin can decisively break the $43k-45k region I would expect more upside in the short to medium term. I would consider any major downside move to be a buying opportunity, as it would likely be short-lived. There is...

memotyka9009

This looks like another bullish set up, similar to the ascending triangle break out in December 2020. $100k definitely possible in 2021 even within this long term fib channel.

memotyka9009

ETHBTC has a lot of room to run up if there is a decisive break above the 21 ema and 53 ema. If rejected, further consolidation between the moving average bands before a larger move might be expected.

memotyka9009

With bitcoin leading the entire crypto market, the ETHBTC pair has been steadily falling for a few months. If bitcoin can cool off without dumping, we may see ETH gain in value against it. The trading pair appears to have a general long term uptrend since the bottom in 2019. Looking at local bottoms and tops throughout this uptrend by utilizing fibonacci...

memotyka9009

Bitcoin setting baseline moves with positive risk/reward. Short to midterm strategy based on distance from MAs.

memotyka9009

I looks like BTC is clearly in an uptrend and might consolidate short-midterm. Watching the MFI for money inflow, and for the 20 week sma and 21 week ema to act as support within a channel.

memotyka9009

I included a sample path, illustrating the volatile nature of ETH. The risk level indicated by the regression is moderate near yellow.

memotyka9009

I have fit the weekly logarithmic regression and used 20/50/100/200 MA indicator for ETH. For a bullish trend, I expect to see a double cross on the MAs, with the 50 and 100 both crossing the 200, followed by steady separation of ordered MAs (green yellow orange red) from top to bottom.

memotyka9009

The most bullish scenario would be a bounce off of the 20 week MA and further consolidation before reversal towards all time highs. In the most bearish scenario, the uptrend is broken and buying range is in the neighborhood of the 200 week MA.

memotyka9009

In this chart I have used logarithmic regression to identify cycle tops and bottoms in BTC. Using the hypothesis of lengthening cycles, I have 3 price targets for a cycle top in mid-to-late 2022. With the current weighting of my regression, it shows that BTC is undervalued right now, with the fair value shown using a blue line.

memotyka9009

Chart inspired by Benjamin Cowen. Instead of logarithmic regression, I am using simple fib channels, 50 MA, 200 MA, and the SMS indicator courtesy of Nicholas Merten. Looking for $100K BTC by the end of 2022.

memotyka9009

Based on support and resistance lines, Fibonacci levels from ATH, and ascending triangle pattern within a larger descending broadening wedge, bitcoin could possibly test ATH before the end of 2020. In this bullish scenario, I expect a breakout within the next 2-6 weeks.