BITCOIN WAVE 2 PROJECTED PEAK OF $84K NOVEMBER 9TH-15TH IN PLAY!! NASTY BTC CRASH PREDICTION!!

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Bitcoin Price to Target $11,500 in the Short Term Because Of These Simple Factors

TradingShot – a well-respected technical analyst on TradingView – explained in a recent post that he is closely watching a recently formed inverse head and shoulders pattern for insight into where the BTC price will go next.

Based on this pattern, which he outlines, he believes that Bitcoin (BTC) will retrace towards $7,300 before rallying up to $11,500.

“I expect Bitcoin to retrace now back to roughly 7300 and price the top (inversed) of the Right Shoulder. Assuming the pattern is to a good degree symmetrical, I then expect a peak (before the May Halving) within $11000 – 11500,” he noted.

Analyst: Post-Halving Momentum Likely to Lead BTC to $20,000 TradingShot doesn’t believe that $11,500 is where Bitcoin’s 2020 rally will end, however, as he further goes on to note that post-halving momentum could lead the crypto to its previously established all-time highs around $20,000.

“The Halving will then take effect and after an initial consolidation I expect the 20k ATH to be tested before the end of the year,” he bullishly explained.

In addition to leaning on the inverse head and shoulders pattern and the upcoming mining rewards halving as bullish catalysts, he also references BTC’s position within another macro parabolic channel as a reason to be bullish.

The culmination of all these factors does seem to suggest that the crypto will soon see a significant extension of the uptrend it has been caught within over the past several weeks.

In other Crypto news today, 3 top Cryptocurrency analysts, Peter Brandt, Tom Lee and Mati Greenspan all remain Bullish on Bitcoin right now.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

Charts are constantly morphing. The idea of drawing a chart boundary definition to be fixed forever was discounted by serious traders 80 years ago. Often, the exact configuration is clear only after the fact. #FACT

— Peter Brandt (@PeterLBrandt) January 24, 2020

Wouldn’t trust trendlines… As everyone is drawing them as per their own bias. It can be drawn multiple ways on many Tfs. Market structure is bearish on weekly… unless proven otherwise. Wouldn’t look at daily for a trend change. The bread n butter is weekly for btc.

— Sanchit (@SanchitLuthra87) January 24, 2020

Peter Brandt Remains Bullish on Bitcoin

$20,000: This Pattern Suggests Bitcoin Could Rally 135% in Coming Months

https://www.tradingview.com/chart/BTCUSD/WibvuiXX-BITCOIN-The-hidden-Channel-the-I-Head-and-Shoulders-to-11000/

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The creator of the stock-to-flow (S2F) Bitcoin (BTC) price model says that the upcoming block reward Bitcoin halving will decide if it lives or dies.

In a series of tweets on April 16, PlanB said that he is sticking by the Bitcoin price increasing by “an order of magnitude” in the two years after the May halving.

“IMO bitcoin 2020 halving will be like 2012 & 2016. As per S2F model I expect 10x price (order of magnitude, not precise) 1-2 yrs after the halving. Halving will be make-or-break for S2F model. I hope this halving will teach us more about underlying fundamentals & network effects”

Stock-to-flow measures the issuance of new Bitcoins each block against Bitcoin’s existing supply, a method which has proven highly accurate in charting price performance. 

According to the model’s latest incarnation, BTC/USD should hit $30,000 by the end of 2020. 

Continuing, PlanB responded to queries regarding Bitcoin’s correlation to traditional markets.

A key concern among many traders is that a repeat of March could still occur, BTC/USD shedding 60% in a day as stocks crashed.

Highlighting the Dow Jones, PlanB argued that current correlation was the result of the broader coronavirus crisis, and was not a permanent feature for Bitcoin:

“During crisis everything is correlated. What’s next is what’s interesting. They will not be correlated forever (in my opinion).”

Promising to throw out the stock-to-flow model altogether if it fails to deliver as planned, he added that he nonetheless was not nervous about such a scenario occurring. 

Recently, some well-known cryptocurrency figures have criticized the concept, arguing it is simply too optimistic and has created a “cult” which reinforces its prognosis.

As Cointelegraph reported, they include Ethereum co-founder Vitalik Buterin and a Bitcoin whale known as J0E007.

“To be clear: I expect S2F-price relationship to hold,” PlanB confirmed.

Here’s Why Bitcoin Rallying 15% to $8,000 Is Just a Matter of Time

Ever since the $3,700 bottom, Bitcoin has mounted an impressive comeback, rallying as high as $7,500 last week as global markets have also seen a similar recovery to pre-crash levels.

But the rally might not be done yet. Crypto trader LightCrypto, or just Light, recently remarked that it “feels like $8,000 is at hand,” referencing his sentiment that the cryptocurrency could soon rally just under 15% from current levels to $8,000.

As to why this is the case, he remarked that with the potential of new buyers “absorbing profit-taking [by longs] and miner selling,” there’s a good chance $7,000 will be “accepted,” which could result in another strong leg to the upside.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

IMO #bitcoin 2020 halving will be like 2012 & 2016. As per S2F model I expect 10x price (order of magnitude, not precise) 1-2 yrs after the halving. Halving will be make-or-break for S2F model. I hope this halving will teach us more about underlying fundamentals & network effects pic.twitter.com/kiTdN0n3Lu

— PlanB (@100trillionUSD) April 16, 2020

Acceptance of this price level comes from new buyers absorbing profit-taking and miner selling. After 1 month of consolidation, it seems that tension will be resolved shortly, with enough kindling built up for a strong leg.

Feels like $8,000 is at hand. pic.twitter.com/xHCAIgtVU1

— light (@LightCrypto) April 16, 2020

Here’s Why Bitcoin Rallying 15% to $8,000 Is Just a Matter of Time

https://cointelegraph.com/news/bitcoin-halving-will-be-make-or-break-for-stock-to-flow-model-planb

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The Bitcoin Price Could Hit $16,000 Before The 2020 BTC Halving…

Bitcoin’s price action at the end of 2019 was largely unexpected; the 40% surge towards $10,000 then the subsequent crash to the $6,000s caught many with their pants down, so to speak.

But, there was at least one trader who called this turn of events: Filb Filb, a pseudonymous cryptocurrency trader known for making some crazy accurate calls, including a forecast of a ~$3,000 BTC price bottom in the 2018 bear market.

In October 2019, he published a chart, which shows that his estimation was for Bitcoin (BTC) to surge vertically to the $9,000s, then plunge to the low- to mid-$6,000s by December, to only recover back to $9,000 by January or February of this year.

In the latest edition of his Decentrader newsletter, Filb Filb wrote that Bitcoin could be on track to move to the $15,800 price point just prior to the halving.

He backed this tentative forecast by noting that prior to the previous halving, Bitcoin found a temporary top at $800, the 78.6% Fibonacci Retracement of the bull market before the halving:

“We can see that the pre halving ultimate top was around $800, or the 78.6% fib retracement. While history never repeats but often rhymes, this would actually put a top in around $15.8k.”

While his $16,000 target was based on historical trends, there is a confluence of technical analysis from Filb Filb suggesting that more upside is imminent.

In a post to his Telegram channel, Filb Filb wrote that 8/8 of the time frames he actively tracks, which includes the four-hour, one-day, and one-month candles, are signaling a buy per his indicators – “the holy grail.”

This suggests that the price of Bitcoin will surge even higher in the coming weeks and months.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

/4 If and when we break the $10,000, we teleport to probably $11,000 in an hour.

— light (@LightCrypto) February 7, 2020

No Asset Follows Trend Better than Bitcoin.The 2016/2017 Bull Market Mania:

On 10/13/2015, Bitcoin closed above its 200 dma & did not close under the 200 dma until 2/5/2018: 846 days of maintaining long-term trend. pic.twitter.com/pGuh7YA8nH

— Matt D’Souza (@mjdsouza2) January 18, 2020

Bitcoin vs. Altcoins: Which Will Make You More Money in 2020?

How Bitcoin Could Surge to $11,000 After Hitting Five Figures

Top 5 Crypto Trading Tips to Prepare You For the Upcoming Bull Market

Why This Top Analyst Says Bitcoin May Hit $15,800 Before 2020 Halving