Is BTC Dead? And Price Prediction.

in #bitcoin6 years ago

https://i.imgur.com/mjRDA7h.jpg

My Analysis On The Past 8 Months.

As I observe the movements of the past 8 months I start to see a bit of a pattern and trend....

...price drops...

...then goes up 50% (roughly)...

...price drops...

...then goes up 50% again.

https://i.imgur.com/zpq1Cl6.png

I also noticed that these swings happen "roughly" every 30 days or so.

https://i.imgur.com/hu9oS0y.png

Using this pattern I figured, if true, it should drop somewhere in this green circle

https://steemitimages.com/0x0/https://i.imgur.com/RSxjO6u.png

It Worked!!!

Sure enough (or I got lucky), it reached to the mark close enough, roughly 30 days and 50% up and then it dropped like a rock.

https://i.imgur.com/z0unXJM.png

Now I can Draw a trend line to where I expect it to be in 30 days (8/22/18), but also assuming the price goes back to ≈ $5800.

This helped me in drawing new green circles where I expect the next quick dip before reaching the 30-day mark and $5800.

https://i.imgur.com/WyCWQIa.png

https://i.imgur.com/HTJHV4a.png

Will this happen? Maybe...but it really seems likely.

https://steemitimages.com/0x0/https://2f97901ltsqi43cw202e80y3-wpengine.netdna-ssl.com/wp-content/uploads/2016/05/DividerLine2.png

My Thoughts...

  • I see predictability, to a degree.
  • I see a rather solid support line (+/- 300).
  • I see new opportunities to jump back into the market!
  • I see where this "wedge" may be squeezed too tight. I don't know 100% that BTC will break $50k by end of the year but I do this it will happen within Jan -- April of 2019.

As I see it, Bitcoin (BTC) is not dead and this year is like the "Black Friday" of crypto specials. As for myself, I'm going to wait until it reaches closer to the 30-day candlestick (8/22/18) and then I'll buy a LOT of #STEEM and #EOS.

https://steemitimages.com/0x0/https://2f97901ltsqi43cw202e80y3-wpengine.netdna-ssl.com/wp-content/uploads/2016/05/DividerLine2.png

Legal Crap

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

https://steemitimages.com/0x0/https://2f97901ltsqi43cw202e80y3-wpengine.netdna-ssl.com/wp-content/uploads/2016/05/DividerLine2.png

Sources:

  • All images used were of my own creation

https://steemitimages.com/0x0/https://2f97901ltsqi43cw202e80y3-wpengine.netdna-ssl.com/wp-content/uploads/2016/05/DividerLine2.png

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good work. Upvote for You:)

Thanks, funny how we're coming onto this 30-day mark ending on the 23rd to the 24th and really looks like the price is going to dip big. Just interesting.

You got a 3.73% upvote from @postpromoter courtesy of @truth-be-told!

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Absolutely fell as predicted...

This is what I'm expecting in the next few hours

If the pattern continues...this is what I expect to see. A final drop in price to $5300'ish

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