What you see from the chart shows you why Bitcoin will reach 18k level by May 2020.
2019 showed how the priceaction of Bitcoin can be read and understood. The best indicator is pure price movement on a weekly chart. Weekly candle has been filled with enough data to predict price movement on a larger scale. The second key indicator is the weekly MA and EMA lines. In the beginning of 2019 when price was recovering from the biggest bearish cycle bitcoin has ever been in, we saw the blue EMA crossing red MA line from underneath to the upside (marked in pink circle). After the crossover price of BTC rose from 5400 USD to almost 14k USD. Now, after the bearish pullback, bitcoin has found support yet again and we have the next crossover also circled in pink. If we duplicate the growth and the time it took from the first 2019 crossover to the high of 2019 and copy it from the 2020 crossover, we can see the price reaching the 18k level by May 2020 perfectly.
Thats it.
2019 showed how the priceaction of Bitcoin can be read and understood. The best indicator is pure price movement on a weekly chart. Weekly candle has been filled with enough data to predict price movement on a larger scale. The second key indicator is the weekly MA and EMA lines. In the beginning of 2019 when price was recovering from the biggest bearish cycle bitcoin has ever been in, we saw the blue EMA crossing red MA line from underneath to the upside (marked in pink circle). After the crossover price of BTC rose from 5400 USD to almost 14k USD. Now, after the bearish pullback, bitcoin has found support yet again and we have the next crossover also circled in pink. If we duplicate the growth and the time it took from the first 2019 crossover to the high of 2019 and copy it from the 2020 crossover, we can see the price reaching the 18k level by May 2020 perfectly.
Thats it.