Welcome to our today’s Bitcoin price analysis at the TA-Tuesday. We throw in the usual outfit in this short course-Update a look at the Charts and look, what can you tell us about the future BTC price may be.
In our today’s Outlook on the future Performance of our favorite digital asset, we zoom in on the Chart and consider the long-term Trend of Bitcoin. In doing so, we will find that there is every reason to believe that 2020 will be a good year for the Bitcoin price. For the basis of this argument I will draw on a Trend that exists since 2013 and is still valid. This is the same Trend with a clear direction and shows up… What does that mean exactly, you can find out here and now. It is so exciting! A Lot Of Fun!
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Contents
Bitcoin rate and his good intentions for 2020
The Bitcoin exchange rate has made it according to the holidays such as the most relatively easy. In the last days there was hardly any movement in Bitcoin, if one ignores the Crypto usual +-3% on the day.
In the last 7 days of Bitcoin had to lose rate overall, -1,23, where he has in the last 24 hours of 1.88%, a further screwed down. But tomorrow, we write the new year in 2020, and we ask ourselves, of course – What are the intentions of the Bitcoin exchange rate for the new year?
Can we expect the long-hoped-for Bullrun or failure of the project “Bitcoin” as such, and we will be doomed to be a purely speculative Asset chasing that somewhere between 8,000$ and 5,000$ is eggs?
Now, as a Bitcoin Enthusiast I reject the latter. Not only from a desire to think, but because there is a whole range of arguments for why we need Bitcoin, and why is it in the future, an increased demand for this digital Gold will be. Above all, the need to have the possibility of assets outside the system in a neutral Zone camps.
But what will happen in 2020, with the Bitcoin price? To answer this question, from zoom, we are in the today’s Bitcoin price analysis and consider the long-term Trend of Bitcoin. A Trend that has been in place since 2013, is still in tact and the hope that 2020 will be a strong year.
The soil in close proximity
Anyone who has read my analysis about the triangles of death, already knows a little bearisheres scenario, according to the us, a rapid collapse of the Bitcoin price is imminent. According to this theory, the Bitcoin exchange rate will eventually rise once again to about 8,300$ before he suffers a severe slump that is driving the Bitcoin price down to approx. 5.800$. There, supported by the 200-Weekly-MA, could be found the necessary stability, a medium-term reversal of the trend to initiate.
On the Chart, this means that the lower edge of the 3. Resistance and support zone, and Rock Bottom is.
At exactly this point, the Bitcoin could take price back to its long-term upward trend.
The Bitcoin exchange rate is on course?
Supports my theory from a long-term Channel, in the Bitcoin price moves since April 2013. According to this, the 23 marked. March 2020, the absolute Deadline to get out of the current medium-term trend channel break out to follow the long-term Channel.
On the weekly chart, the Whole then looks like this:
The fact that the Bitcoin price is not returned at the end of the year 2018 once to the bottom edge of the trend channel, can be interpreted as a bullishes Signal. Furthermore, it illustrates the significance of the 200 Weekly MA line for the Bitcoin exchange rate and is an indication of why you might be for the Rock Bottom, the Bitcoin exchange rate.
From there, it is in the long term, only two significant Resistances for the Bitcoin exchange rate. The first is located at approximately 11,800$ and the second marks the highest completion rate on the weekly Chart, we have so far for Bitcoin experience. This is about 19.400$.
In any case, is likely to be 2020 for all investors of Bitcoin, a very worthwhile year, because even the first target price of 11800 price is already a whopping 63% over the current Bitcoin. Of course, in case that the Bitcoin exchange rate also follows in the year 2020, continuing the Trend that has been around for over 6 years.
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