Hello again!
In my last analyses I have accurately predicted Bitcoin's movement and in Dec 2021 stated the bottom is below $20k, somewhere between $18-14k. BTC has dropped to $17.5k and I'm not trying to guess is it the bottom now. Perhaps it is, perhaps we're about to have another one slide, slightly below 18-17k but if nothing spectacular will happen (like idk, tether issues?) I'm not expecting it to drop anywhere lower than $17k atm and all I want is to focus on the bigger picture right now.
So don't look at it as a short-term analysis, rather at a situation that would hopefully happen in next weeks- months.
What I'm trying to show you is moving averages and giant falling wedge that is creating.
MA30 and MA 210 are really close to each other and in all history of BTC they have never crossed! (red and blue lines).
I expect the red line to turn around now and start heading north. To do so BTC has to stop dropping and I believe this is happening right now.
Another thing is this vast falling wedge - a bullish pattern. As I'm watching BTC since 2016 this might be the most respected pattern. I believe it will break up soon and BTC's price will start to recover.
Orange vertical line is the next halving and the green bars I've marked are my predictions for the next months for Bitcoin.
And what do you think?
Share your thoughts please!
Go north!
Tom
In my last analyses I have accurately predicted Bitcoin's movement and in Dec 2021 stated the bottom is below $20k, somewhere between $18-14k. BTC has dropped to $17.5k and I'm not trying to guess is it the bottom now. Perhaps it is, perhaps we're about to have another one slide, slightly below 18-17k but if nothing spectacular will happen (like idk, tether issues?) I'm not expecting it to drop anywhere lower than $17k atm and all I want is to focus on the bigger picture right now.
So don't look at it as a short-term analysis, rather at a situation that would hopefully happen in next weeks- months.
What I'm trying to show you is moving averages and giant falling wedge that is creating.
MA30 and MA 210 are really close to each other and in all history of BTC they have never crossed! (red and blue lines).
I expect the red line to turn around now and start heading north. To do so BTC has to stop dropping and I believe this is happening right now.
Another thing is this vast falling wedge - a bullish pattern. As I'm watching BTC since 2016 this might be the most respected pattern. I believe it will break up soon and BTC's price will start to recover.
Orange vertical line is the next halving and the green bars I've marked are my predictions for the next months for Bitcoin.
And what do you think?
Share your thoughts please!
Go north!
Tom
