BTCUSD was silent since last couple of months and awaken up now. If you remember the last BTCUSD chart then i hope you remember that we were having a very nice descending wedge and we were anticipating bullish wave in that wedge. Finally we have go that bullish wave but it took a lot of time.
We are still in that pattern and we still can see one more drop before final rise on the Monster.
How you can trade on this chart.
1. It is forming correction thats correction needs to finish first and should break up sharply for then next bullish wave. So once price break up sharply then look for buy and continuation. Your reason to stay in that is it should continue after breakup if dont then take off and wait for the new low for longer term buy.
Or
2. Wait for the price to hit the bottom or new low then look for buy. If you are looking for heavy buy for longer term then let the price forms new low or at least let it hit the bottom again for buy.
Note: Buying without correction completion and on corrective breakout carry risk so make sure you buy only solid and strong breakout and correction completion. If dont know what kind of correction should look like before you consider breakout then wait for the update.
Good Luck.
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This is the OLD chart while this pattern was developing.
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This is the lower time frame chart when it was setting up for the bottom.
I doubt we'll blast through fib resistance at 6000 6770 7540 800 85630 10720 12878 15949 and 19862. Next cycle starts now, yes, but it will take 3 to 5 years to complete (to 80 / 100K). Not 5 weeks to 20K like you are saying.
iera
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6000 6770 7540 8015 8563 10720 12878 15949 and 19862*
dogalkozmatik
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update please myfriend
umutkirkoca1903
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Bitcoin at $ 6 thousand in the same statement you and your estimate was very bad, I think you should stop drawing the graph.
ReallyMe
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So my original idea from January 4, 2019 at which many people rolled their eyes and commented "oh no, never ever" was probably right!
Today it looks like this. We will see...
Allec
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Yes, good analyze. We are leaving first year of bear market, now 2 years of ping pong with a drop to 3200 and then after two years crazy rise like last time.
pkb6698
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I think the CME expiration date has a major impact on BTC's trend transition.