Bitcoin 22k till the end of the year!
This is a bold call... in terms of the timeframe not in terms of the price - cause I am pretty confident Bitcoin will eventually reach and go well beyond it's ATH establish in Dec'17.
Technical perspective:
We still are in a 2 year price consolidation triangle. Inside it we are about to complete the 5th Elliot Wave - after that we will be ready for a strong breakout.
This formation is confirmed by the way volume is shaped. The strong bullish impulse that formed the triangle high was supported by a great volume, on the other hand, during the retracement and consolidation period volume has been falling steadily.
The first Fibonacci extension (1.13) from the last ATH is around 22 500 $ (orange dotted line). This converges with the triangle height if the triagle breakout should occur in Jun/Jul'20.
Let's bear in mind that in mid May we will experience a long awaited Bitcoin halving which will reduce the Bitcoin supply by 50%! overnight!
Gl & Hf ;)
Technical perspective:
We still are in a 2 year price consolidation triangle. Inside it we are about to complete the 5th Elliot Wave - after that we will be ready for a strong breakout.
This formation is confirmed by the way volume is shaped. The strong bullish impulse that formed the triangle high was supported by a great volume, on the other hand, during the retracement and consolidation period volume has been falling steadily.
The first Fibonacci extension (1.13) from the last ATH is around 22 500 $ (orange dotted line). This converges with the triangle height if the triagle breakout should occur in Jun/Jul'20.
Let's bear in mind that in mid May we will experience a long awaited Bitcoin halving which will reduce the Bitcoin supply by 50%! overnight!
Gl & Hf ;)
Trade fermée: cible de profit atteinte
GREAT SUCCESS! :D
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.