BTCUSD - Uptrend Reversed - Going Down...
Disclaimer: I am not associated with Armstrong Economics in any shape or form.
*** Most of my previous ideas were hidden because I violated house rules of promoting an external link. I had no idea it was a violation and it was unintentional ***
Perhaps this will be my last post for a little while. The major Economic Confidence Model target, the start of the new 8.6yr natural cycle, on January 18th-19th 2020 has produced the lower high (based on the closing) in BTCUSD at about $9000 as well as the peak in US Stocks among many other things. As for US Stocks, Gold and Silver, you could most likely expect a significant correction but not a bear market, with the final top to occur long ahead in the year 2032 which should be way, way above 44000 points in the DOW Jones etc... don’t expect Gold to outperform US Stocks and Bitcoin.
As far as Bitcoin, at the Weekly level, it has elected 4 Bearish reversal from the strategic high formed in June 24, 2019 warning that we have reversed the immediate uptrend that started in December 10th, 2018 suggesting that further decline is possible. The next strong targets are the weeks of February 17th and March 9th.
At the monthly level, BTCUSD will decline from here on out into March, then June being a critical target where I’m suspecting BTCUSD could bottom but this is my interpretation of the analysis and it is too far out anyways even though the trend-line seems to align.
The Bullish news is that at the yearly level BTCUSD has not reversed the uptrend that started all the way back in October 2011. Don’t get me wrong, I am very bullish on Blockchain technology and it is indeed the future to invest in however, there’s room for a much lower price here in 2020 before mooning again into May 2024.
The key Monthly closing price for BTCUSD to revert this yearly uptrend is below $2972 then $1910 and my suspicion here is that, maybe, perhaps, somewhere around June 2020 we could have a meltdown below these levels and a quick recovery to close the month just above them, as it is always the case when a bottom or high forms, it tends to test those last reversals without electing them at the closing of such time levels. However, shall BTCUSD elect $2972 or $1910 then that’s a whole different scenario but for that we shall wait and see.
In my chart, I’m drawing the key Monthly levels moving forward.
Good luck everyone! see you in the future.
*** Most of my previous ideas were hidden because I violated house rules of promoting an external link. I had no idea it was a violation and it was unintentional ***
Perhaps this will be my last post for a little while. The major Economic Confidence Model target, the start of the new 8.6yr natural cycle, on January 18th-19th 2020 has produced the lower high (based on the closing) in BTCUSD at about $9000 as well as the peak in US Stocks among many other things. As for US Stocks, Gold and Silver, you could most likely expect a significant correction but not a bear market, with the final top to occur long ahead in the year 2032 which should be way, way above 44000 points in the DOW Jones etc... don’t expect Gold to outperform US Stocks and Bitcoin.
As far as Bitcoin, at the Weekly level, it has elected 4 Bearish reversal from the strategic high formed in June 24, 2019 warning that we have reversed the immediate uptrend that started in December 10th, 2018 suggesting that further decline is possible. The next strong targets are the weeks of February 17th and March 9th.
At the monthly level, BTCUSD will decline from here on out into March, then June being a critical target where I’m suspecting BTCUSD could bottom but this is my interpretation of the analysis and it is too far out anyways even though the trend-line seems to align.
The Bullish news is that at the yearly level BTCUSD has not reversed the uptrend that started all the way back in October 2011. Don’t get me wrong, I am very bullish on Blockchain technology and it is indeed the future to invest in however, there’s room for a much lower price here in 2020 before mooning again into May 2024.
The key Monthly closing price for BTCUSD to revert this yearly uptrend is below $2972 then $1910 and my suspicion here is that, maybe, perhaps, somewhere around June 2020 we could have a meltdown below these levels and a quick recovery to close the month just above them, as it is always the case when a bottom or high forms, it tends to test those last reversals without electing them at the closing of such time levels. However, shall BTCUSD elect $2972 or $1910 then that’s a whole different scenario but for that we shall wait and see.
In my chart, I’m drawing the key Monthly levels moving forward.
Good luck everyone! see you in the future.
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