BitcoinPanjang
BITCOIN is exactly where it's supposed to be. Headed to 14000.
Are you confused with Bitcoin's recent volatility? Don't be. The price is exactly where it is supposed to be based on the previous market cycle.
Checkpoints and similarities with 2015/2016:
- Price bounced on the MA150 after its market top.
- Trading on the 0.5 Fibonacci retracement level.
- Emerging Golden Cross between MA100 and MA150.
Differences:
- The obvious April - June 2019 never happened in 2015. Strong market fundamentals caused this aggressive pump and it is no surprise that Bitcoin corrected slowly but surely back to the MA150.
Projection:
- In 2016 the price soared by +125% following the bounce on the MA150. We have every reason to believe a similar pattern will be followed and a +125% rise from December 2019 bottom gives $14000 estimate.
If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis, news, updates, and more from PrimeXBT!
Checkpoints and similarities with 2015/2016:
- Price bounced on the MA150 after its market top.
- Trading on the 0.5 Fibonacci retracement level.
- Emerging Golden Cross between MA100 and MA150.
Differences:
- The obvious April - June 2019 never happened in 2015. Strong market fundamentals caused this aggressive pump and it is no surprise that Bitcoin corrected slowly but surely back to the MA150.
Projection:
- In 2016 the price soared by +125% following the bounce on the MA150. We have every reason to believe a similar pattern will be followed and a +125% rise from December 2019 bottom gives $14000 estimate.
If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis, news, updates, and more from PrimeXBT!
Penafian
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