The mid-term accumulation pattern repeats itself twice and confirms bullish on the third try breaking out and consolidating on the prior resistance. NVT currently in high territory indicating a short term pullback is very likely.
Some additional assumptions:
- btc to reach $8'500 by dec 2019
- btc to reach $18'500 or ATH by dec 2020
- btc to reach $180'000 - $280'000 by mar 2022-2023
- accumulation zone expected to bounce between a 33%-50% range from mean of q1 2019. ~$4'230 low and q2 2019 expected at ~$5'230 => avg: $4'800
- Using ~40% consolidation zone average, we apply 20%-(wicks)25% possibility to both the upside and downside
- 1/5th capital left remaining to add low-mid leveraged positions if there's a final capitulation to the lower $2'000 range which looks very unlikely (<1/5).
In conclusion:
Anywhere near the $4'000 level is a decent long entry zone (short/mid/long-term) and $5'800 a decent short entry zone (short-term)
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BTCUSD
Some additional assumptions:
- btc to reach $8'500 by dec 2019
- btc to reach $18'500 or ATH by dec 2020
- btc to reach $180'000 - $280'000 by mar 2022-2023
- accumulation zone expected to bounce between a 33%-50% range from mean of q1 2019. ~$4'230 low and q2 2019 expected at ~$5'230 => avg: $4'800
- Using ~40% consolidation zone average, we apply 20%-(wicks)25% possibility to both the upside and downside
- 1/5th capital left remaining to add low-mid leveraged positions if there's a final capitulation to the lower $2'000 range which looks very unlikely (<1/5).
In conclusion:
Anywhere near the $4'000 level is a decent long entry zone (short/mid/long-term) and $5'800 a decent short entry zone (short-term)
Please feel to share your thoughts/charts feedback on this chart.
BTCUSD