Next 2-3 months will be pivotal for BTC and crypto in general

COINBASE:BTCUSD   Bitcoin / Đô la
The next few months are going to be pivotal for BTC             and the crypto markets in general.

For BTC             , we have a confluence of:

White Line: 0.618 retracement measured from Jan 2015 low to Dec 2018 high

Red Line: DAILY 200 SMA

So far there is a nice INTRADAY (Feb2, 2018) reaction to this level... so far.

Keep an eye on the weekly and monthly charts... if BTC             does not close below this level on the weekly or monthly charts, this is good for BTC             and the whole crypto market in general.


If there is a WEEKLY close below this level, BTC             is likely to move to the September consolidation range (3-5K).

If there is MONTHLY close below this confluence level, there is a near 100% chance that the 3-5K range will be hit. Actually, if there is a monthly close below this level, it will probably go to the May August consolidation range (1.7-3K). If this happens, BTC             is going to take a long time to recover... like probably over 2 years before new highs are made.

What this scenario will mean for the crypto markets in general will depend on the ability of ETH to replace BTC             as the cryptocurrency 'bellweather'... a process that already 'feels' like it is underway IMHO. If this transition can happen, then BTC             plummeting will not be a big deal. If the transition never really occurs, then the entire crypto market will languish for 1-3 years.

Hopefully this level will hold.

Bình luận:

I missed something pretty important in my original comment: The A-B-C correction is also complete at the confluence level with AB = BC. This makes the confluence level even "stronger" ... it also makes it that much more important that it holds.

As I stated in my original comment, a weekly close below this level is bad. A monthly close below this level will put BTC and possibly the entire crypto market on ice for at least a year... maybe 2. The psychological impact will be pretty big if this happens and, though it will probably recover eventually, it will not recover quickly.
VI Tiếng Việt
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Trang chủ Sàng lọc cổ phiếu Công cụ tìm kiếm tín hiệu Forex Tìm kiếm tín hiệu Cryptocurrency Lịch kinh tế Cách thức hoạt động Tính năng biểu đồ Điều khoản sử dụng Người điều hành Giải pháp Website & Môi giới Widgets Thư viện biểu đồ chứng khoán Yêu cầu tính năng Blog & Tin tức Hỏi đáp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh hồ sơ Tài khoản và Tính phí Tickets Hỗ trợ của tôi Liên hệ hỗ trợ Các ý tưởng đã xuất bản Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất