BTC is in uptrend but needs to see $4200s first!
Hi everyone,
This is my first post on Bitcoin so I will talk a little bit more about my background and views. I have been watching crypto space for 6 years, since it was $90 usd, not necessarily as trader, but more as investor. So I am long term bullish on Bitcoin and Cryptocurrencies in general, and I think this is the only asset class that can give you 40 - 100 times return in few years. 40 times for Bitcoin which I think might hit 200k by the end of 2021, and 100 times for other smaller crypto assets if you choose the right one.
I have found that predicting Bitcoin price in short term is quite challenging and it might not play out the way you want and you might get stocked at your wishful thinking. for example I was prediction that Bitcoin will bottom at much lower prices around $1000 but it didn't play out that way as it all depends on supply and demand. I believe one reason could be institutions filling up their swags with cheap bitcoin. Now most of the analysts believe the bottom is in and I also think the same way.
You can see Bitcoin price is moving in the channel shown with blue trend lines. It obviously does not move directly to the moon, it just forms triangles and once it's done with one triangle, it moves to the next one. while doing this, it keeps all the moves inside the channel. In the way upward, I believe it will change the slope every time and will ultimately turn to parabolic shape as per previous bull runs. So I think bitcoin will hill $4200 by the end of April 2019 and will bounce back to low $5000's by mid to late May 2019.
I don't claim to be an expert and this analysis is in no way suggesting to trade in any way. Please do your own research before entering into any trade.
Have fun and play safe!
- Mohandes -
This is my first post on Bitcoin so I will talk a little bit more about my background and views. I have been watching crypto space for 6 years, since it was $90 usd, not necessarily as trader, but more as investor. So I am long term bullish on Bitcoin and Cryptocurrencies in general, and I think this is the only asset class that can give you 40 - 100 times return in few years. 40 times for Bitcoin which I think might hit 200k by the end of 2021, and 100 times for other smaller crypto assets if you choose the right one.
I have found that predicting Bitcoin price in short term is quite challenging and it might not play out the way you want and you might get stocked at your wishful thinking. for example I was prediction that Bitcoin will bottom at much lower prices around $1000 but it didn't play out that way as it all depends on supply and demand. I believe one reason could be institutions filling up their swags with cheap bitcoin. Now most of the analysts believe the bottom is in and I also think the same way.
You can see Bitcoin price is moving in the channel shown with blue trend lines. It obviously does not move directly to the moon, it just forms triangles and once it's done with one triangle, it moves to the next one. while doing this, it keeps all the moves inside the channel. In the way upward, I believe it will change the slope every time and will ultimately turn to parabolic shape as per previous bull runs. So I think bitcoin will hill $4200 by the end of April 2019 and will bounce back to low $5000's by mid to late May 2019.
I don't claim to be an expert and this analysis is in no way suggesting to trade in any way. Please do your own research before entering into any trade.
Have fun and play safe!
- Mohandes -
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