Hi 123, nice to talk to you again, I have been following the news in this post and I would like to ask you two or three things.
Regarding the usual Christmas rally, do you think this up price is part of it? It seems despite the time in the graph (which you always say is orientative) it would march with the pike near Jan 2019, but in Dec 2018. Which would then be followed by a new down.
How this analysis have in mind the possibility of the authorization of the first fund based on crypto on february? acording to different analyst this would develop a real base for Bitcoin to rise.
Last but not least, could this be the Bull market before another down? I would like to see an update on this analysis.
As usual a pleasure to talk to you.
Regards,
Regarding the usual Christmas rally, do you think this up price is part of it? It seems despite the time in the graph (which you always say is orientative) it would march with the pike near Jan 2019, but in Dec 2018. Which would then be followed by a new down.
How this analysis have in mind the possibility of the authorization of the first fund based on crypto on february? acording to different analyst this would develop a real base for Bitcoin to rise.
Last but not least, could this be the Bull market before another down? I would like to see an update on this analysis.
As usual a pleasure to talk to you.
Regards,
$3270 was a noted support zone on BITFINEX. The market reached a low of $3215 on 15-DEC and has staged a +30% rally into CBOE futures expiry on 19-DEC.
Presently would expect a pullback to around $3650, and then quite possibly another rally towards $4500 around CME futures expiry on 28-DEC.
Eventually expecting the bear market resume to sub $3000 starting in early 2019.
$2650 BITFINEX is the first major support below $3000. This support zone may coincide with news of an ETF fund launch in 1Q2019 to produce a bounce, which may commence the elusive wave-x bull market.
A failure of the $2650 support zone would likely suggest the bear market resumes towards $1000 by 4Q2019 as originally presented.
At this stage, the market would have to exceed $5890 BITFINEX to confirm a new bull market. Exceeding $5178 BITFINEX would provide an early signal to consider a potential change of trend. Until then, any rallies are considered as temporary dead-cat bounces.
BITFINEX Major Support Zones:
$3270, $2650, $2150, $1650, $950
BITFINEX Major Resistance Zones:
$4270, $5178, $5890
Personal interest in cryptocurrency is waning as the market deflates, hence winding-down the cryptocurrency analysis since the objective of the thread as been generally attained. This is a 2018 thread, and suppose it can now be closed. Thank you for the discussion and shared thoughts, Merry Christmas!
