The technical analysis of the current development tells us very much.
To much I don't want to bore you with technical terms or irritate.
Only a brief explanation: General based my analysis on the Elliott Wave Theory.
This theory States that there are 5 waves.
(A high 1 โ down 2 โ up 3 โ down 4 and a high 5)
Then a cycle is completed and it goes down a whole piece again.
Very simply explained, admittedly, but sufficient for the Moment.
The waves I'm going to draw in the BTC Graph:
Use the "log Chart"that you over longer periods of time a more accurate picture. To do this, you activate the "Toggle Log Scale" in coinigy on the bottom right next to the automatic scaling.
The Elliott Wave Theory you can use the tools on the left of to select and step-by-step drawing.
In the analysis you will need to have a view of 1 day (for me), or 3 dayselect.
A simple theory is and well. But you know me and maybe something.
It must always be several indicators combined . In my analysis, I use the Fibonacci Retracement.
I set the Start after the first rise (1) and use the low point of the correction (2) for the lower line of the Fibonacci Retracements.
The theory States that we can accept in a good "bull phase" is the 2,618 line as the next possible high point.
And as you can see โ BAM.
We met almost exactly at around 5,000 USD.
Now, we apply the indicator to the second correction.
When we get back to the 2,618-line to adopt, then we have a very conservative estimate.
The course is in the forecast. 8.300 USD to rise. In the scenario you've made a good Plus, if you have purchased at the current rate, (approx. an area of 5,600 USD).
I guess the 3,618-line but very realistic . Then the rate would rise to about 10.400 USD.
A smart capital management would be in this development that you are already at the 2,618-line a part of your Bitcoins to take out. So, you have by the removal of perhaps even your investment (depending on when you went in). The Rest comes "on top", but you're on the safe side.
If I of my beautiful 11.300 USD for December at BTC talk, then corresponds to the approximately 4,236-line. This is my designated target, what I expected even 2 months ago. Only, the number not released now so blatant. ๐
Then let's look at a few indicators and more.
Trend lines in Trading one of the most important indicators. I have allowed myself a couple of times einzumalen.
Not to scare you, there are a total of four trend lines:
That's what we call a "parabolic development". The course develops a non-linear, special on a imaginary parabola.
With the trend line no. 1 would be the beginning of December, 2017, the rate on approximately 8.300 USD. (The point of intersection of the violet vertical line)
But if we assume that the parabolic development, it is possible that the price breaks through this trend line out.
And still steeper, than was previously the case.
A couple of important data are still the Bitcoin Gold Fork on 25.10.2017 and another Fork planned in November.
To these data of the Bitcoin show a little more movement.
Around the turn of the year, and Christmas is, in General, reached the peak.
If you know the beach test and about it, then you can, if it goes down again, cheap new BTC shopping.
With the current Trend and the history I have led lines in 2019 and 2020.
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In the graph, the data is no longer on it, but the points of intersection lie in the following Ranges.
I give to you.
Just as BTC was in 2013 to a level of USD 10 could also imagine no one the development of 6,000 USD.
But it remains exciting, what is the mass market and the countries up to the end of 2020, with the Bitcoin of the line.
The purely technical forecast looks good. You will only be braked, if, for example, would decide the United States that BTC will be banned or other similar actions.
The can so far see no one in his crystal ball.
With a few BTC on the "High edge" are you advise but in the long term.
The mentioned correction had taken place. Also, the mentioned development.
That is not to say that I me on the shoulder knock, but that the market situations repeat themselves , and the signs of my forecast.
Even if we "only" up to the Level of 8,300 USD, it would be a very good development.
So take my value is not as accurate and you can look forward, if the Call is pointing in the right direction for you.
grabs his crystal ball again
Much success in Trading and HODL
