Hi all. A couple of weeks no see from me so here I am back again.
Only a small but urgent chart will be today and in the next couple of days will be something bigger and long term.
Lets get straight to the point with the 1H chart. After some ups, downs and some sideway move the BTC price finally break out upside from the latest symmetrical triangle. First thats bullish and second my target price from this move is around $11350. As SL I think to use $10900 from this perspective but i`ll keep an eye at this chart and can react as fast as it needed.
Nothing much more to say at this point so i`ll see you at the beginning of the next week.
P.S. If you check the chart now you`ll see a very good confirmation of this breakout.
Hi all. From my last post you can see why I dont like lower time frames and short term BTC analysis at all. It was a good setup but with BTC anything can happen literally from nowhere so thats why im continuing with long term picture. This time ill show you some history and the only question is “Can this history be repeated again?”. From the chart 1 youll see and interesting pattern which happened before the second and third ATH. Its a descending triangle, some sideway move, then an ascending triangle and then… next ATH. Its happened twice and both times was before the next ATH. Guess what is the chart 2 picturing…? Exactly the same story but its happening now. A descending triangle, some sideway move, then an ascending triangle. What`s missing…? Yep, the next ATH! I want to make only 2 clarifications:
Its not 100% sure that the history will repeat but weve already saw it so it`s very likely.
The latest ascending triangle is not so clear but thats because of the Corona drop and that drop is something really extraordinary and if the Covid crisis didnt happened, we would have a perfect ascending triangle. Thats from a technical perspective for now. Now some side words. Like you already may be saw from my charts, im a BTC bull. Even a moon boy may be. But lets be honest for a short term perspective. Exactly in a short term im expecting some more blood on the markets and I dont mean only for a BTC. Like we saw from the last BTC drop, exactly simultaneously Gold, Silver and Oil also dumped. For me thats a sign of a second Corona dump. It wont be deadly for BTC for sure but it can hurt, so its good all of us to be prepared. Just have this in mind.
The second thing which blew my mind lately is unambiguously. I believe most of you know the story and idea behind the Bitcoin. Also like most of you knows that the real wealthy peoples in the world are small number and they dont like BTC because theyll lose their power and theyll do whats needed to prevent this from happening. One of these peoples are the Rothschild family. Google them if dont know who they are. For sure they dont like BTC but guess what… Their Rothschild Investment Corp is number 15 in the top 20 Institutional Bitcoin Investors list according to not anyone but Forbes. And if that`s not a bullish for BTC…
That’s all for now. See ya next time.
Wow thanks for the history and break down. love seeing it that low and the moves it made. how every one used to say there is no value in BTC and you are wasting your money. if only i had bought a few back then.
cheers for the information and lets hope for the next high
Hi all. Ill be very short but specific this week. Strange week for Bitcoin and crypto sphere at all. Right? Price swing, Bitmex scandal, Trump with Covid and etc. But you know what? I dont care about all that. All I can see is a bright Bitcoin future cuz of one simple chart. Do you remember my 3 month quarterly BTC chart from the end of August? If you dont you can check it at the left side of the chart below. Like youll see from the chart, every time when we close a 3 month candle above the descending trend line from the last ATH, the run for the next ATH is starting.
Now look at the right side of the chart below and what are you seeing…? Yep, its true, a 3 month candle already closed above the descending trend line from the last ATH. So maybe weve already started the next ATH run. Only the time will show am I right or not.
That`s all for now.
See ya next time.
Definatly hoping and looking for the rise and break up from here been holing at the level for a very long time now which is a good sign of support i am hoping.
