Brief explantation of this fractal:
Sept 2014 - Nov 2015 was the first BTC broke under the moving average ribbon. This resulted in a 420 day bear market.
June 2016 - Aug 2016 - Bitcoin slowly swung out of the bear market and rallied until it met resistance @ $786 which lead to a 40% correction, signaling a short term top
*Note: The short term top at $786 took about 210 days to get retested*
Dec 2016 - Very shortly after, $786 Bitcoin tested it's previous all time high @ $1183, and continued up.
January 2017 - Dec 2017: After BTC broke above previous highs, we spent in 343 days in a bull market rallying over 2500% from $1183 - $19,954.
Where we are now: I correlate this recent price movement to the June 2016- August 2016 scenario. So far we have corrected 43% after swinging out of the bear market.
What's next: If Bitcoin follows a similar trajectory (and as long as 7.7k isn't breached) I believe it'll take about 200~ days (January 2020) to retest the short term top at $13,900. Breaking up would give us an instant push to 20k and new highs.
I believe Bitcoin will reach a generational top at $250,000 by 2022. From there, a slow bleed and dried up volatility.
Sept 2014 - Nov 2015 was the first BTC broke under the moving average ribbon. This resulted in a 420 day bear market.
June 2016 - Aug 2016 - Bitcoin slowly swung out of the bear market and rallied until it met resistance @ $786 which lead to a 40% correction, signaling a short term top
*Note: The short term top at $786 took about 210 days to get retested*
Dec 2016 - Very shortly after, $786 Bitcoin tested it's previous all time high @ $1183, and continued up.
January 2017 - Dec 2017: After BTC broke above previous highs, we spent in 343 days in a bull market rallying over 2500% from $1183 - $19,954.
Where we are now: I correlate this recent price movement to the June 2016- August 2016 scenario. So far we have corrected 43% after swinging out of the bear market.
What's next: If Bitcoin follows a similar trajectory (and as long as 7.7k isn't breached) I believe it'll take about 200~ days (January 2020) to retest the short term top at $13,900. Breaking up would give us an instant push to 20k and new highs.
I believe Bitcoin will reach a generational top at $250,000 by 2022. From there, a slow bleed and dried up volatility.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.