Hi all and Happy New Year. Wishing you an awesome and profitable one to be. As first BTC analysis for the year it will be more really long term so lets get to the point. It was a good price movement lately and I really believe that the $6.4K level was the bottom. Everything which ill say from here is situated on historical PA and a bit of math. From now im expecting the 2nd small parabolic move which must take place till the next summer may be, followed by descending before the 3rd big parabolic move which must take us to the next halving cycle ATH. Thats the first PA, which I can call it “1,2,3 steps”, move made by BTC in previous halving cycles. The second one is the bigger accumulation/parabolic periods in BTCs PA history. Every time theyre getting 1.4 times longer than previous one.
So judging by this two PA I can assume that the next BTC All Time High will be… in June 2022 and the price will be somewhere around… $170K. That`s insane!!!
I just want to say 3 more things:
This is just a prognosis. Its 50:50. It can become real or no but at this point thats how im seeing the BTC PA future and thats only my (or may be not only my) opinion.
Im not talking about Mays halving and the price then cuz its coming very soon and im a really long term HODLer.
Starting from the previous two points thats a really long term analysis. Ill be more specific in short or mid-term period into next week analysis.
Hi all. The first month for 2020 already passed and it was hell of a good month for BTC. Hope thats just a preview for the whole year. Last time ive presented to you a really long term analysis so lets get back to shorter ones. Beside of all financial markets, today was a really hot day for the winter season (around 20 degrees) and thats why ive been on a pleasant walk with my wife and friends. Thats why im kind of tired now and ill be really short but punctual in my analysis.
The graph is not really changed except the new support and resistance levels and 2 newly added indicators.
Two support levels:
$8500 - previous resistance and 50% fibo level
$7800 - previous resistance level
Resistance level: $9800 - previous resistance and 38.2% fibo level
What about the newly added indicators? Here they are:
Pivot point. A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
The pivot point is the basis for the indicator, but it also includes other support and resistance levels that are projected based on the pivot point calculation. All these levels help traders see where the price could experience support or resistance. Similarly, if the price moves through these levels it lets the trader know the price is trending in that direction.
Last weeks the price was consistently above PP levels. As youll see well close this week above it again (Weekly pivot point (week 5 20)). Im calculating the next week PP level on a $9440 closing price. It can change a bit cuz this week candle is now yet closed but if the closing price is around $9440 it will be similar.
Parabolic SAR. Ill not go in deep into explanation what is PSAR but if you want to learn more about it heres a good article about it - https://www.forex.academy/profitable-trading-computerized-studies-iii-psar/ . The most important here is that PSAR is turned back to bullish after the price top back in July last year. If thats not a strong bullish signal I dont know what can be.
That`s for now from me guys. Wishing you a wonderful and prosper week and month.
