Ladies and Gentlemen. Traders. Hodlers and Skeptics alike. Gather round for this analysis on teh Bitcoin and longer-term forecast.
Before we begin, let me clear about one thing in particular. Over the course of me posting charts on tradingview I get asked a lot "Sherem, why do you do it?" I do this for myself, so I can have a clear understanding of my trades and positions. What i look for and how I do it. If you have been following since the beginning, i thank you. I hope you have learned from my martingale/ladder strategy positions and have profited from my posts. You can see, especially in recent times that we have had great success with recent calls like DASH, ZCASH, Tezos and had great long term entries in BTC at this $6,500 level from posts dating back to as early as September of 2019 where I pointed out that level multiple times.
At this point, Bitcoin seems poised to go to $20,000. Of course anything could happen as this is crypto, but lets see what it's poised to do and why it will probably be best to hodl.
After Bitcoin came off it's aggressive high of $13,500 in June of this year, we saw it begin to channel downward. This has been the first real penetration of the channel to the upside. Even a daily close. A weekly candle close above the channel will be that much more bullish. Notice what is happening to the MACD, we are getting a WEEKLY cross over from negative to positive. This only adds fuel to the fire. Notice also how the MACD crosses are sloping up and to the right. This also coincides with a strong RSI creating an upward trendline indicating strength.
ALl in all I think BTC will hit 20k this year and i outlined how I think it could very well happen.
Happy Hodling,
-Sherem
Before we begin, let me clear about one thing in particular. Over the course of me posting charts on tradingview I get asked a lot "Sherem, why do you do it?" I do this for myself, so I can have a clear understanding of my trades and positions. What i look for and how I do it. If you have been following since the beginning, i thank you. I hope you have learned from my martingale/ladder strategy positions and have profited from my posts. You can see, especially in recent times that we have had great success with recent calls like DASH, ZCASH, Tezos and had great long term entries in BTC at this $6,500 level from posts dating back to as early as September of 2019 where I pointed out that level multiple times.
At this point, Bitcoin seems poised to go to $20,000. Of course anything could happen as this is crypto, but lets see what it's poised to do and why it will probably be best to hodl.
After Bitcoin came off it's aggressive high of $13,500 in June of this year, we saw it begin to channel downward. This has been the first real penetration of the channel to the upside. Even a daily close. A weekly candle close above the channel will be that much more bullish. Notice what is happening to the MACD, we are getting a WEEKLY cross over from negative to positive. This only adds fuel to the fire. Notice also how the MACD crosses are sloping up and to the right. This also coincides with a strong RSI creating an upward trendline indicating strength.
ALl in all I think BTC will hit 20k this year and i outlined how I think it could very well happen.
Happy Hodling,
-Sherem
Comment:
Look at that, 13k next, then eyeing 20k after that.
