Another bitcoin idea
Hi and welcome all to another TA. From the day chart, you can see that the h&s (green) has already begun forming and in several days it will complete its formation. So what will happen after this? I say another bear run. Why a bear run? If we look at the orange lines (bear trend) and the dark purple lines (bull run), we see that they will meet at a certain point. It seems as though bitcoin wants to go in a slow sideways bear trend until it meets up with it's healthy partner the dark purple line. The dark purple lines represent the healthy bull run from 2016 until the media hype of bitcoin which it mooned. So in other words, bitcoin will likely go on this bear trend until October or January. Which ever bitcoin decides, it will start the bull run regardless.
On the day chart, I expect at least a bottom of 4500usd and then up and up it will go.
If we are to look at the weekly chart, we see that bitcoin is starting to form a sideways movement. This movement, I expect will be several months which is in conjunction with the day chart and it's TA. It will start to accumulate and once it narrows to a point, expect bitcoin to start a bull run and hang on for dear life.
Last but not least, the monthly chart. According to the monthly chart and the bollinger band, bitcoin seems to have come very close to the middle bb line. From here, if it goes up, expect a bull run. If it does go down, then expect a full blown bear run down the mill. For me, I expect several more months of riding on the middle bb line.
Many have said that altcoins are almost free of bitcoin, but I say differently. Bitcoin has the majority of the market. Until some of the altcoins near the price of bitcoin, bitcoin will determine the market. For several days, we have seen altcoins gain over bitcoin. Don't expect that to last too long. Until the whales decide to put everything back into bitcoin and fiat, I say take your gains and be happy. Stay strong, stay focused, and hodl long. Bitcoin will rise again.
On the day chart, I expect at least a bottom of 4500usd and then up and up it will go.
If we are to look at the weekly chart, we see that bitcoin is starting to form a sideways movement. This movement, I expect will be several months which is in conjunction with the day chart and it's TA. It will start to accumulate and once it narrows to a point, expect bitcoin to start a bull run and hang on for dear life.
Last but not least, the monthly chart. According to the monthly chart and the bollinger band, bitcoin seems to have come very close to the middle bb line. From here, if it goes up, expect a bull run. If it does go down, then expect a full blown bear run down the mill. For me, I expect several more months of riding on the middle bb line.
Many have said that altcoins are almost free of bitcoin, but I say differently. Bitcoin has the majority of the market. Until some of the altcoins near the price of bitcoin, bitcoin will determine the market. For several days, we have seen altcoins gain over bitcoin. Don't expect that to last too long. Until the whales decide to put everything back into bitcoin and fiat, I say take your gains and be happy. Stay strong, stay focused, and hodl long. Bitcoin will rise again.
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