BTCUSD Long term Analysis - $100,000?
Mis à jour
The trading community is going frenzy with their respective versions of BTC speculations. So, Here's mine :)
Long term Analysis:
1. BTC on a clear downtrend from last bull run towards 14k mark.
2. I saw traders speculating 61.8% bullish turn around. I don't believe in extreme precisions on fibonacci levels but my theory about them is I like to think of it as a whale, and I wont see any panic at 61% level. So I will be bearish until fear kicks in, maybe at 78.6% mark, or with a 100% retracement making a double bottom. That's the basic rule of the market, kick in the FEAR, make people sell, REKT them with a bullish move.
3.July 10, 2020 marks the next halving event of Bitcoin. If you aren't aware, halving will increase the production cost of bitcoin to ~6500 mark. As Satoshi Nakamoto himself said "The price of any commodity tends to gravitate towards it's production cost". Bitcoin didn't go below $3150, after the halving it wont go below $6300.
4. Accumulations will happen below 6500 level before halving, after halving, the prices are tend to rise, and as per my estimate, I would say BTC will go to $55,000 mark until next year, and FOMO will get it to $100,000 mark till the end of 2021.
That's all folks.
Long term Analysis:
1. BTC on a clear downtrend from last bull run towards 14k mark.
2. I saw traders speculating 61.8% bullish turn around. I don't believe in extreme precisions on fibonacci levels but my theory about them is I like to think of it as a whale, and I wont see any panic at 61% level. So I will be bearish until fear kicks in, maybe at 78.6% mark, or with a 100% retracement making a double bottom. That's the basic rule of the market, kick in the FEAR, make people sell, REKT them with a bullish move.
3.July 10, 2020 marks the next halving event of Bitcoin. If you aren't aware, halving will increase the production cost of bitcoin to ~6500 mark. As Satoshi Nakamoto himself said "The price of any commodity tends to gravitate towards it's production cost". Bitcoin didn't go below $3150, after the halving it wont go below $6300.
4. Accumulations will happen below 6500 level before halving, after halving, the prices are tend to rise, and as per my estimate, I would say BTC will go to $55,000 mark until next year, and FOMO will get it to $100,000 mark till the end of 2021.
That's all folks.
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