bodeen88

Typically, if the price falls below the 111D moving average for more than a few days, it signals a downtrend in price to come for the next significant period of time. The 350D moving average (green) is still likely to trend upward for the next 2 years at least. Price will likely catch up to this 350 Day Moving Average (350D MA) in the coming years, probably at a price of around $150,000 - $250,000. It may take a while to reach that amount if the price falls below the 111D moving average for a significant period of time. Recently, the price bounced off of that MA, so we will see in the coming weeks if there is going to be a major trend shift in price or if the price will continue to bounce higher away from the 111D MA. If there is a trend shift to the downside, we will see a divergence between the 111D MA and the 350D MA. If not, they will continue their path of convergence until they reach the Pi-Cycle Top. My guess is that the top is around $150,000 - $250,000 for this 4-year cycle.

Take a look at the fibs. Price is in a descending channel currently. Price is at the bottom line of the rainbow log regression channel shown. According to PlanB's model, the price should be much higher right now. This is a severe discount seen only a few times, the Crash of 2018, the COVID-19 Crash, the Mount Gox exchange hack, to name a few. These are times of capitulation. I will need to investigate further, but I see some indications of a local bottom. My strategy is simple. Buy Bitcoin and hold it until retirement. Try to buy low. But don't beat yourself up if it drops You are just going to buy more cheaper, So it's like everything's on sale. My investment is based on the conclusion that Bitcoin will remain the dominant "reserve" cryptocurrency, and that cryptocurrency will continue to proliferate in business and technology applications. Lately we have seen a dive in all cryptos, with most altcoins diving even lower than bitcoin. I had to adjust my expectations 50% lower than my last prediction, due to the outflow of speculators and institutions hitting their margin calls, etc. I wish I had more money to buy with at this point. Those who were sitting on the fence, now might be a good opportunity to get in.*I think it has the potential to get to $16,000, but if it doesn't get there soon in the next day or two, then 20k will probably be the bottom*

I think sometime between now and the end of the year, Bitcoin price will start rising. And when it starts rising, this will start the next bull market. It may not happen today. May not happen next month, or even the next 6 months. But sometime soon, the market is going to explode upwards. This all assumes that the current macro trend in bitcoin continues. Which, if you have faith in your research into bitcoin like I do, it most certainly will continue. Right now is a good time to accumulate more bitcoin. The next bull market will likely see prices rise between 400%-500%. If you want to own a % of bitcoin, now is the time to buy it. Soon after the next halving event, maybe 6 months after (halving event approximate time marked in yellow dotted line), the price will probably explode again.

While everyone on here is just drawing a bunch of random squiggly lines with a paintbrush and drawing big green up arrows right beside big red down arrows... and saying, "the price is either going to break out and go way up, or it's going to break down and go way down," I figure that I would add my own randomly generated "dice throw" of an analysis based on absolutely nothing but my hopes and fears and emotions. THE PRICE IS GOING UP, YOU FOOLS! BUY! You will be the same thing about a year or two from now when the price drops down to $50k-$60k from $350,000 anyway. So why not buy it now and watch the ride up. You know you're going to miss the big sell opportunity at the top because you will all be full of hoping and endorphins and dreams of many Lamborghinis by that time... But hey... At least you'll get to enjoy the ride up. From a technical perspective, the 1 week RSI has not reached even 70 yet. While the daily RSI is at 70 already, that only confirms a strong uptrend on the daily chart. The first major resistance past the ATH is at about $85. It will most likely get rejected there since it appears we will NOT be rejected at this $64k level. I predict a bounce back to $64k after reaching $85k. So undoubtedly you will get another chance to buy at this level ONE MORE TIME before the fun ride to $350k.

If so, a major breakout will ensue. First price target 120k, major resistance based on upper trending. If break through that resistance, next price target is 400k.. Expect to reach by early 2022.

It happened pretty recently. Is it possible for it to happen twice in one year? It should be the shortest Pie cycle ever.

I see a long term pattern here. The vertical yellow lines represent halving event dates, spaced about 4 years apart, which seem to be good buy zones. About 14 months before a halving event also seems like a good buy area. The vertical red lines represent bitcoin bull market peaks, spaces about 4 years apart, which are sell areas. Correct me if I'm wrong, but take a look at the long green arrows. They follow periods where bitcoin had some significant peaks, but those peaks were not even close to how big they were in late 2013 and late 2017. If the price breaks above this green upper trend line to the upside, which also happens to be right at the all time high as of today, wouldn't there be a huge FOMO-powered rally that drove bitcoin prices to unprecedented levels? But what could cause this rally to happen? The lack of buy volume from retail investors is slowing the ascent of bitcoin prices today as well, but I think some institutional investors are starting to realize the potential of bitcoin as a safe haven from both stocks and the U.S. Dollar. Once the Institutional money jumps into the bitcoin boat, the retail investors will follow their lead. The could all be very easily manipulated too. Like a MASSIVE bitcoin pump and dump. I'm not really sure what the reason was for the latest jump from $40k to $58k, but I do smell a big pump coming out of nowhere. I called the drop from $55k-60k range earlier in the year. My price target was around $30k, which turned out to be a fairly significant support zone. So I think I should have some credibility here. Although this price target does probably seem extraordinarily high, I do think bitcoin will at least reach $120k by early 2022. That is almost a given if the price breaks the all time high soon. ----------------------------------------------------------------- Factors favoring the alternative bearish scenario of a drop from here to the $30k support line by early 2022: 50 week logarithmic bollinger band is starting to pinch, the resistance at the all time high, and just the fact that the U.S. stock market and generally all markets around the world today are extremely overvalued according to many different metrics. Bitcoin is not an exclusion to this phenomenon. Bitcoin is still in its early stages and is considered a risk asset by many. The Federal Reserve beginning to taper its asset purchases and possibly raising interest rates as early as 2022 is also cause for concern. Bitcoin has risen substantially since the second half of 2020 (about 500%), and has is currenly 100% above the nearest support level of $30k.If it drops to $30k, just BUY MORE if you have cash.