Before I head to sleep, I'd like to provide you with some information about Bitcoin I've determined will be useful to you all.
The back in 2014, Bitcoin retraced 65% of it's bullish movement up. This occurred from it's top, "November 30th, 2013 Approximately $1173 Price Per Bitcoin". A then 65% retracement to $417.74 December 18th, 2013. Followed by a 136% price increase, the confirmation and retest on January 6th, 2013 ($988.13) and then proceeded to break the lows and consolidate for the next 3-4 years.
See it here:
In 2017, we saw a similarly occurrence. Bitcoin retraced 45% of it's bullish movement up. This occurred from it's top, "December 17, 2017 Approximately $19764 Price Per BItcoin". A then 45% retracement to $10890.63 @ December 22nd, 2017. Followed by a 58% price increase, the confirmation and retest on January 6th, of 2018. ($17135) (Notice a pattern), and then proceeded to break the lows and consolidate for the next 3-4 years.
See it here:
If we estimate that this year we will see a reduction in the retracement level by another 20%, (Making it approximately a 25% pull back from the ATH. We will have a bottom @ approximately, ($51900 Price Per Bitcoin on December 3rd through the 6th) followed by a 24.7% price increase, the confirmation and retest on January 6th, of 2022. Approximately $65526) and then proceed to break the lows and consolidate for the next 3-4 years.
See it here:
The back in 2014, Bitcoin retraced 65% of it's bullish movement up. This occurred from it's top, "November 30th, 2013 Approximately $1173 Price Per Bitcoin". A then 65% retracement to $417.74 December 18th, 2013. Followed by a 136% price increase, the confirmation and retest on January 6th, 2013 ($988.13) and then proceeded to break the lows and consolidate for the next 3-4 years.
See it here:
In 2017, we saw a similarly occurrence. Bitcoin retraced 45% of it's bullish movement up. This occurred from it's top, "December 17, 2017 Approximately $19764 Price Per BItcoin". A then 45% retracement to $10890.63 @ December 22nd, 2017. Followed by a 58% price increase, the confirmation and retest on January 6th, of 2018. ($17135) (Notice a pattern), and then proceeded to break the lows and consolidate for the next 3-4 years.
See it here:
If we estimate that this year we will see a reduction in the retracement level by another 20%, (Making it approximately a 25% pull back from the ATH. We will have a bottom @ approximately, ($51900 Price Per Bitcoin on December 3rd through the 6th) followed by a 24.7% price increase, the confirmation and retest on January 6th, of 2022. Approximately $65526) and then proceed to break the lows and consolidate for the next 3-4 years.
See it here:
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.