Hi Traders,
You can TA the shit out of this chart if you really wanted to... look at the elliot wave count... moving averages, oscillators ect... its all a thing of beauty....but it basically boils down to this symmetrical triangle structure, in combination with fib price and fib time retracements - how the decision times line up perfectly with the halvening macro event, very interesting.
Basically I am using this bearish sentiment currently in the market to fill my bags in anticipation of a rally towards 20K in 2020, followed by a parabolic push in 2021. I believe we are in the disbelief phase of the market cycle theory.
I can go into the fundamental reasons why bitcoin, along with all real assets (not tied to debt) will do very well in this upcoming decade, but i don't see the need to discuss economics and monetary history here. Just know the fiat currency system is on its final stages - I am anticipating a massive wealth transition this decade, as trillions of dollars in fake fiat currency flocks to safe haven assets to preserve buying power - the long term clock is always in the bull favor for bitcoin.
As far as price goes - best places to add to the stack are current market price $7400, perhaps $6,500 if we can get it, and at the very lowest i see this going $5,200 - which would be a test of the newly formed trendline support, and oversold weekly RSI.
Dollar cost averaging is much easier said than done, but not risking more than you can afford to lose will help a lot with this, and strengthen your hand, don't get greedy.
See below pictures for more analysis.
Best of luck, HIT THUMBS UP.
You can TA the shit out of this chart if you really wanted to... look at the elliot wave count... moving averages, oscillators ect... its all a thing of beauty....but it basically boils down to this symmetrical triangle structure, in combination with fib price and fib time retracements - how the decision times line up perfectly with the halvening macro event, very interesting.
Basically I am using this bearish sentiment currently in the market to fill my bags in anticipation of a rally towards 20K in 2020, followed by a parabolic push in 2021. I believe we are in the disbelief phase of the market cycle theory.
I can go into the fundamental reasons why bitcoin, along with all real assets (not tied to debt) will do very well in this upcoming decade, but i don't see the need to discuss economics and monetary history here. Just know the fiat currency system is on its final stages - I am anticipating a massive wealth transition this decade, as trillions of dollars in fake fiat currency flocks to safe haven assets to preserve buying power - the long term clock is always in the bull favor for bitcoin.
As far as price goes - best places to add to the stack are current market price $7400, perhaps $6,500 if we can get it, and at the very lowest i see this going $5,200 - which would be a test of the newly formed trendline support, and oversold weekly RSI.
Dollar cost averaging is much easier said than done, but not risking more than you can afford to lose will help a lot with this, and strengthen your hand, don't get greedy.
See below pictures for more analysis.
Best of luck, HIT THUMBS UP.
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