My Bitcoin Chart Predictions With ZERO Technical Analysis
If you follow me you know by now I place little substance on "models" and "math" when the reality is the markets are far more complex than a simple theory or model can predict! So I look at ranges! I look at where are breakout points (not highs) and where are the end to sell offs (not lows)!
My charting is simple, I look at my own logic from literally watching hours a day almost 7 days a week the prices and see how the relate to eachother and how things work. I realized over the past few years a very similar pattern in not only Bitcoin but cryptocurrency in general. Almost every coin, especially the majors, go up and down in sync with eachother, outside a few minor factors.
Notice how all the charts look almost identical in the top 10 coins on https://coinmarketcap.com/
Is this not showing a pattern?
Did it take math, rocket science, or some charting guru for you to see that? I think not! We all see relatively the same thing across almost all the major coins! In fact even the Stock market is showing the same downswings today with the DOW having the historical biggest single day loss of over 1000 points!
Did it take a rocket scientists or advanced wizard charter to tell you this all was related?
So what should we do? Well using absolutely nothing but my heuristics and a little background on how this game works I came up with the following chart. It shows we should break below $4,000 in Bitcoin before we break out to a new high over $20,000 before the end of 2018!
Cryptocurrencies love to over shoot both directions, so $4,000 low could really be $500 and $20,000 high could really be over $50,000! The cycles are really what you need to learn which I discuss in my previous article:
https://steemit.com/steemit/@bigdeej/when-should-i-buy-where-is-the-bottom-what-is-happening
I’m not much of a chart guy but what you are saying makes sense. There’s definitely a pattern going on. I’m a buyer when it Bitcoin gets to 3-4K.
Neither am I, at least not in the conventional sense. I look at charts after I look at everything else and only use them to confirm what I believe to be true. Most "chart experts" look at the chart as reality, I look at reality and try to see how the chart fits it. This is why I don't use complex models or math or any pricing equations. I simply think how I WOULD FEEL buying or selling at certain ranges and see how that matches up with the prices, combine that with a few obvious trends and you have a pretty accurate "model" that literally anyone could put together!
i wish cryptocurrencies will be legalized in nepal, so i can buy some :(
If it does hit 500 I'm selling everything and buy btc.
$500 Bitcoin haven't seen that in years now! Wow that would be amazing to see again! This is just like the 2014 crash was!
Too good .. in my opinion accurate As well
appreciate you reading!
whats your take on masternode coins @bigdeej ! All of the masternode coins are also in the dip.. do you think it is a good time to invest in masternodes?
I don't track masternode, the only coins I track right now are STEEM, ETH and BTC. The rest of the markets I don't keep much watch on.
Thanks for the reply @bigdeej !