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$1,000 Bitcoin Price Predicted

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Currency Pair: BTC.USD
Time Frame: Daily & 1hr
Predicted Direction: Short

Live BTC.USD updates will be available in the comments section below.

The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.

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Please note that the title is correct at $1,000.
I will be breaking down the reasons behind my thesis very soon.

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The big question when looking to invest in a certain currency, stock, commodity or any other asset is what's the true value.

When i break down Bitcoin i see no 'True' value in regards to what it can provide aside from what can be duplicated, many throw in the argument that they were first, however Facebook was not first but has done much better than Six Degrees.
There are other sides of the coin in regards to speed and cost transferring money which i completely agree with, however doesn't justify current price and again can be duplicated and improved.

I believe the hype is real due to the technology changing many industries, the value is merely inflated and will fizzle out as new and improved versions are formed.
This leads me on to governments, although i won't delve too deep into this given the platform you have to take into consideration that governments are not going to allow this transfer of wealth without collecting their share of the revenue.
Many believe due to the nature that governments have no choice but to comply and sit back, however after years of research and due diligence i would disagree and there are things that can be done to have more control than many would be lead to believe.

Please note the above comment is only very brief and is based on my opinion and due diligence, please no aggressive comments, lets keep everything calm as we are all here to keep our information on the same playing field.

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Given that very few are using it as a day to day currency means there will continue to be supply as the demand issues which in turn pushing the price until the bubble pops.
If for example your purchasing a £100,000 car you are unlikely to part with £100k of Bitcoin, this is because you speculate what it can be worth next week, month or year, as opposed to your GBP that the central banks continue to print quicker than trees can grow.

Please note that i don't just see a collapse to $1,000 occurring in the coming weeks or months i think it will be a slower process as stringent regulation raises its head.
Although i refer to this as Tulip mania it's not the same in regards to what it can provide, simply due to the human psychology behind it.

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A textbook break & retest on the 1hr TF which now coincides with the 4hr 50EMA breakout.
I see a consolidation period back into the 4hr 50EMA confirming an additional short opportunity.

As previously stated, this will not be the death of Bitcoin just a quick day trading opportunity.

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Price has pulled back presenting a short opportunity.
Should the 38.20% & 1hr 50EMA be respected a continued push towards $9200 is expected.