Bitcoin possible scenarios for next move, I still see BULLISH

in #bitcoin5 years ago

If you have followed my blog from the beginning of 2018, I always said I don't think 2018 would be an interesting year for crypto adopters, specially new comers. It's very disappointing to opt in an environment which is hyped to the roof (2017) and as you jump in, it gets dead and boring (2018)

But I have also always said, 2018 will be over! 365 days, not less, not more! It's not about 12 months to be passed, it may finish before Dec (not so sure though) or may end in mid 2019 (more likely) but anyway, 2019 will be a better year for Cryptocurrencies;

Again, if you have followed me carefully, BTC above $6200-6400 channel, means struggling bears to pull it back to lower channels, but still the bulls are more powerful. and about being too long in the sideways, we had this post.

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image source

My method is to see all the possible scenarios, bull, bear and sideways, and then try to draw how the trend may move between. there is no 100% scenario which you can rely on. you should study all possible scenarios, and act based on probabilities.

So what I'm saying is, neither I nor any other trader can't predict a trend exactly on every step and pip it takes; but we can and we should see all the possible probabilities and study the strength of each one. and in the end we have to manage our money with measured risks, to start a trade.

OK, back to current situation:

Bitcoin's next move

I'm still on bullish scenario with a probability of 80% to touch $6800. here is why:

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I was expecting BTC to get out of this tri-angle pattern by the end of OCT, if you have read this post of mine.

Now with a one week delay, we witness that break and hopefully to the UP! the $6200-6400 support channel has performed very strong, actually stronger than what I was expecting, and now the move should be uptrend in coming few days.

Keep an eye on how it behaves, the juice shouldn't be missed by those who have waited too long ;)

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Nice article but can you also write an article outlining major developments in the space which supports bitcoin prices to rise. 2018 has been a big year fr bitcoin with so many new developments. For example people all around the world can finally spend bitcoin now on physical goods with the Bitplaza app. Also Sony is entering the bitcoin space with a new crypto hardware wallet. And there has been many there exciting projects in the bitcoin community. It would make a very interesting article.

that's a great point. i will put it in my bucket list 😉 if you did so, let us know 🙇‍♂️

We still have 2 months to go, and I think we will see the start of a bull run as the end of Nov comes. There is too much positive news in regards to institutional investors getting on board quietly through OTC markets

informative comment :) thank you

That's the point, they quietly onboard and hoard enough. When they feel like their position is optimal, they start to pump in news that sends the market crazy. They won't allow prices to prop up beyond a certain level till they hoard enough. And anyone who is long term bearish on Bitcoin is in for a lesson.

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If you got into crypto at the beginning of 2018 you have to be patient and hodl. Also, you have to be willing to reinvest now maybe 2-3 times the amount you invested at the beginning of 2018. This is the best time to buy into whatever coin you like and hodl.

I had a gain in 2017, and I don't have any problem with patience ;)
have you finally stopped auto comments?! fingers crossed :D

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