Awesome week cant wait for this week dude
Hi all. Like ive promised you last time, into the next couple of analysis ill show you the needed steps 1 by 1 from BTC to reach the next ATH. Ive discussed the first one last time and now its a time for the second.
Part one from the second condition for the next ATH (chart 1).
Its simple. Part one from the second condition for the next ATH is to close a monthly candle above this actual down trend. This trend is massive. 28 months (851 days). Thats why its so important to break it. Just a quick wick for now which is nothing major. A close above $10500 break will be really massive bull signal and then this first part will be done. The good point at this chart is that were still above the 21 monthly EMA (this was the first condition for the next ATH).
Part two from the second condition for the next ATH (chart 2).
It is to mark a HH (higher high) into the weekly chart. This means a close of a weekly candle above… guess what price… $10500. Yes, we were close before the latest dip but nothing`s yet lost.
In summary: the needed level is $10500 and we need a monthly candle close and a weekly candle close both above it.
Actual support and resistance:
- Support:
1st support - $8500 - 50% Fibo and VPVR profile
2nd support - $7800 - Resistance:
1st resistance - $9500-9800
2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above. - Weekly pivot point is $8679.42. The price is moving around it now and let`s see how it will end the week.
- 50 SMA situation is same like the pivot point. The price is moving around it now and let`s see how it will end the week.
- 21 weekly EMA is far below the price for now. Not bad.
In short $10500 is my golden price line. If we go above it… MOON and beyond!
See ya next time with the third part of ATH scenario.
3 Likes
Nice one, keep it coming
Fingers crossed for $10,500 
made some profit on the btc dip over the weekend. i feel it will drop lower to 7k though,maybe even around the 6 mark and range between the two. great analysis as always thank you for sharing
Looking forward to 10k! Thanks for sharing your analysis. 
Looking long after this weekend, halving could well give bitcoin the next big push to get past 10k
Still looking good despite the dip over the weekend! Nothing broke structure and still in an uptrend
What about the double digits dump last week in like 10 min. I don’t recall any earth shattering news paving way for a move like that.
hello ,
Bitcoin price today report… analysis.
Bitcoin-U.S. dollar prices are near steady Tuesday morning and appear to have stabilized the market following a sharp downside correction the past few days, after hitting a 2.5-month high last week. A price uptrend is still in place on the daily chart and bulls have the overall near-term technical advantage. The bulls do need to step up and show fresh power very soon to keep the uptrend alive. Stay tuned.
If you want to exchange your Bitcoin with right price, then exchange QIWI for Bitcoin is the best site in my opinion. you can visit this site once.
Thank you…
Still bullish for now, I hope we see the gap close before the next short term drop
price is gonna grow
Hi all. Like ive promised you last time, into the next couple of analysis ill show you the needed steps 1 by 1 from BTC to reach the next ATH. Ive discussed the first two into my last two analysis and now its a time for the final third one.
Heres the third step to the next ATH (chart 1). Many of you will say that after every single halvening, the next ATH takes more time. Thats right but not at 100%. Im finding a very strict and simple rule into the past 2 ATH. Yes the 20K ATH took more time from the halvening than the previous one but… and this is a big but, check the time between breaking the previous ATH price after the every halvening and the next ATH. In both cases its exactly 10 months.
And here comes the third step to the next ATH. We can say that 10 months after we break the $19666 price level we can expect the next all-time high. When will be that ATH? Like I said all depends from the nearly $20k break.
So let`s summarize all 3 steps.
- 21 monthly EMA. April candle closed above it. The first condition is already fulfilled.
- A monthly close above $10500 and a HH (higher high) into the weekly chart.
- Break above the last ATH ($20k) and 10 months of time.
That`s all. Simple enough.
Actual situation (chart 2).
- Support and resistance:
1.1. Support:
1st support - $8500 - 50% Fibo and VPVR profile
2nd support - $7800
1.2. Resistance:
1st resistance - $9500-9800
2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above. - Weekly pivot point is $8971.39. The price is far above it for now which is positive for the next week but let`s where this week will close.
- 50 SMA situation is same like the pivot point. The price is far above it for now which is positive for the next week but let`s where this week will close.
- 21 weekly EMA is far below the price for now. Not bad at all and it`s going to cross the 50 SMA which is another good sign.
- With this week candle (if it close like now) we
re breaking the symmetrical triangle from the upside. Very positive sign. Thats all for now.
See ya next time.
3 Likes
Interesting times ahead indeed
The next 10 months are going to be very intriguing
I think youre being conservative
I love the structure and breakdown on your analysis man, very clear and concise.
Not sure if I agree with George thinking you’re being conservative - I guess we’ll see.
I don’t feel in the current corona climate that the market is behaving normally, and I could see more people gravitating towards BTC
Nice analysis! I hope we get that push up the the major 10,500 resistance. I think I’ll take profit around there and look to re-buy the dip from there if that happens
Hi all. Kind a long time no see from me but this time youve got to excuse me again. Im not in a mood for some big charting so i`ll be short and share with you the actual weekly chart from the last time plus some new Stock to flow model.
Actual situation (chart 1).
- Support and resistance:
1.1. Support:
1st support - $8500 - 50% Fibo and VPVR profile
2nd support - $7800
1.2. Resistance:
1st resistance - $9500-9800
2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above. - Weekly pivot point is $9278.15.
- 50 SMA is below the price for now.
- 21 EMA is below the price for now.
- We
re very close to a bullish cross between 21EMA and 50SMA but lets wait for confirmation. - Whole this week candle is above the symmetrical triangle. Very positive sign.
As a conclusion i`m expecting a positive next week.
New Stock to flow model. (chart 2).
With the actual money printing and very possible inflation and even hyperinflation the future BTC price can reach $100k, $1mil. and more. But what will be the purchase power of this $100k or $1mil.? I think thats the big question. Unlike the FIAT, Gold is gold. No matter now, before 100 of years or after 100 of years. Thats why the latest BTC vs Gold Stock to flow model is getting more important. Just check the chart.
That`s all for now.
See ya next time.
Great analysis again! Hoping to see another rally and pop at that pesky $10500 resistance level this week