This is what the long term picture looks like for Bitcoin right now. We have now hit the Range Expansion validation target, which confirms that bullish momentum is intact, increasing our confidence in the forecast on chart. There are two targets, one with a high probability of being attained, of more than 60%, and one with lower probability, but still more than 50% chance, and a high probability reversal level on both cases. Once we hit the targets on chart, we could see price stall, or reverse back down to 2955.01 as a worst case scenario. We will be able to determine which will happen, once we reach those levels. If we see price stall, then bullish continuation is more probable, and with detailed multi timeframe analysis, we will be able to add to longs safely on each short term and intermediate term setup that the trend might give us.
Don't pass on these low risk opportunities I present to you. I have been covering this extensively, so that people can see how well the trading methodology I learned from my mentor, Tim West, works in Bitcoin. I won't necessarily cover it in such detail in the future, this will probably be my last chart for the year. Next year, I might post updates to it, but not post so many trade setups for my followers. If you're interested in receiving all my trade ideas, contact me for access to my trading signals or private tuition course.
I am certainly down with 77,000 USD per coin. Thanks for this!
IvanLabrie
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@Rivet.popper, let's start with 3300+ first. That's quite far away still even.
Pato99
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Haha that rise is exactly what i see coming in the next years when our world is falling apart. hopefully 1000 € will be enough to buy some dry bread
IvanLabrie
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@Pato99, hehehe. I don't know if falling apart, but there is a very strong trend here, and in the dollar...and that can only hurt the Chinese currency and thus boost BTC.
Add to it all the social mood ramifications, and fundamental information specific to BTC, and you have room for upside like this without much problem.