BITCOIN: How Will Q4 2019 Play Out? (Bounty Post)
Bitcoin Daily - Averages
In my previous post, I stated that the sideways movement could continue until we reach the 200 day MA (grey) - and here we are, just about to see if there will be any support reaction. The MACD indicates a growing bearish Histogram, but the RSI just entered the oversold area and a bullish response can happen anytime. Now it's just about when and if a bullish divergence will form.
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Bitcoin Daily - Fibs
It is the first time when we break the golden pocket (0.618 - 0.65) area, after bouncing there a couple of times. We're heading now towards the 0.786 retracement, which 'magically' aligns perfectly with the 200 day MA.
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Bitcoin Weekly
Here's a simple drawing of how things will probably play out in this last quarter. Bullish scenario: we can have candle wicks as low as 7780$ - where the 55 EMA and the 100 MA are to be found - and afterwards push towards 12000$. Bearish scenario: Breaking these support levels will probably bring us to around 5500$, to our old beloved 200 wMA.
The green and red arrows are just for orientation.
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Bounty:
Where do we go now? Are you a bull or a bear in Q4 2019?
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I'm not too good on charts, and I do not own any BTC. But my two years on STEEM have sure proved that btc is the leader for all these coins, so I try to pay attention. Your charts today are very helpful and show a clear picture @aezakmi, so thank you for posting them.
One thing I have noticed is a lot of the mainstream coming in to BTC, other coins, and blockchain technology in general. These are big players like governments, banks, and insurance companies. I see this since I look out for news of crypto mainstreaming and tweet it. I have a pretty good presence on Twitter and so tweet out "the mainstream is coming" whenever I can.
So now I think we are seeing market manipulation while the big guys and others try to get in. Not to mention the original btc whales who were already manipulating. The lower they can get the prices, the more they will come in, (I hope).
So will we get to a tipping point where the price explodes? I sure hope so, and it cannot come too soon.
Thank you for the kind words, @fitinfun! I must say, I share the same thoughts with you. The big players are indeed accumulating and the crypto space will go mainstream again. It is just a matter of time in my opinion.
I believe btc will have a all time high pretty soon
Posted using Partiko Android
Let's see if you're right!
Time will tell
I think we are in a situation of Hope, thus there will be a slight growth in Q4.
I think there is a possibility that the price continues to fall to or around the $6k support.
However, I do see BTC by the end of Q4 being back or above the $10k price, so I guess that makes me a bull.
Well, you might be right! BTC usually rallies when approaching the end of Q4 and Christmas.
Thanks for stopping by.
Yeah I've seen a lot of people predicting that could be the start of the next bull run, but ever since the bubble popped I've seen people predicting the next bull run, so not holding my breath.
@aezakmi, In life we face both phases Good and Bad. Same way we have to stay strong in both Bull and Bear Market. Stay blessed and good wishes from my side.
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