Bitcoin weekly log chart

Jun 25, 2018

This weekly log chart shows my view of the future of Bitcoin for the next couple of years. The trend line shows the minimum levels I expect to see, but I also anticipate BTC testing the $4200 point of control. This sits under the 100-week moving average and will set off a lot of alarms. Falling under $5000 could create a panic sell which will be bought swiftly by the whales. After that I expect BTC to move only higher and trade between $5700 and $8000 for at least a few months. ETFs could still change a lot of that.

Jul 9, 2018

Note

Here's another view of my idea above. The $5000 mark nicely represents the 100-week. Falling below this point and confirming the $4200 support will end the long term downtrend and move into a slow but lasting uptrend.

Jul 9, 2018

Note

Jul 9, 2018

Note

P.S. The volume profile shows a potential 40% profit if bitcoin was bought at that $4200 support :)