Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I´m playing with the fractal chart and its kinda creepy how similar the patterns are now compared to the bottom of 2015.
In the weekly chart with MA 20 50 100 200, having 3 MA crossings behind us it looks like we are at May 18 2015, touching the 20 MA.
Following that scenario, then likely a correction is coming down towards 200 MA ($3400-$3500) and then soon a bullish move up to visit the 50 MA ,
possibly around $5600 ?
Grab some nipples and HODL!
In the weekly chart with MA 20 50 100 200, having 3 MA crossings behind us it looks like we are at May 18 2015, touching the 20 MA.
Following that scenario, then likely a correction is coming down towards 200 MA ($3400-$3500) and then soon a bullish move up to visit the 50 MA ,
possibly around $5600 ?
Grab some nipples and HODL!
I agree. Except everyone is looking at the same charts as you and front running the fractal, so the dips are being absorbed.
I doubt were in May 2015 in that chart, more March 2015, the first bounce of the weekly MA20 after the bottom. See:
IMHO its too early to break out of the high $3k - $4k range. Am inclined to think we will be around this range until mid year.
What about:
Late March - early April up to weekly MA20 ($4.1k)
Late April - early May down to weekly MA200 ($3.5k)
Late June - early July up to weekly MA50 ($5-$5.5k)
Early to mid August down to weekly MA200 ($4k)
Early to mid October breakout above all 3 MAs ($4.5k)
Late October - early Nov short term peak ($6k-$9k) before normalizing above $6K and growing further.