I wrote this post two days ago: missing logic in people's expectation of crypto prices
and I had different feedback, from people with different attitudes and interests.
Then I came in to this poll: what will BTC price be at the end of the year?
I suggest you participate in the poll. Here is my thoughts + my technical/chart analysis:
REMINDER: this post is not a trade or financial advice and I am not paid to be your financial adviser :D so please take responsibility for your own actions and do not blame on others who are just expressing their point of view!
My thoughts
as I have expressed many times, 2018 was a boring year for crypto, due to the cooling off period after the shockingly rise on 2017. I expect 2019 to be better, more mature, juicier, but still far from McAfee's expectations!
Chart analysis
As long as BTC is above $6100, I stick to my long-run bullish point of view. $ 6100-6200 support channel plays a very important role in forming new possible downtrend, and I believe BTC have tried to break this support 9 times since June 2018 and every time, it failed. So I remain bullish in a long run.
looking at the green and the blue lines, which are drawn based on weekly chart and on a long-time window (almost all time) the uptrend is visible. if you try to picture the ending days of Dec 2018, you will come to $ 7500-8500 based on my drawing. So my vote is for $ 7500 - 8500 each BTC by the end of Dec 2018
I really love the way you presented your thoughts , you are such a good professional to be honest. However, I still do not agree with $7500 to $8500 price range, but for sure anything could surprisingly happen in the crypto world.
I say from my point, if we continue going bull as happens if the few passed days. I can see BTC playing between $9500 to $10500 in the end of this year.
thanks for your kind comment
we both agree there is a sustainable bull run, the result will be heavier market cap and more people adopting the new tech. 👍
If the ETF will be approved and if the herd will enter the market, I believe we'll see +12000 again by the end of the year. But that's a lot of "if's"😁
that's fundamental ifs and your point is right.
i don't see that happening in 2018
just my opinion
thanks for sharing your point of view
Some say the end of September, some December and some February. I guess the time will tell.
Cheers!
time solves and answers everything!
we are not patient enough 😃
I hope your predictions will be right, however I somehow believe tech analysis is rather good to interpret the past (so after the change really happened) :P and the lines seem more and art then sci to me (not your lines - tech analysis lines in general).
PS did you ever check if tech analysis make sense at all this way: take random piece of BTC prices from the past, draw your lines (seeing only that historical part), and then uncover what was there later and if those lines match? And experiment like this? :) I wonder what would be a % of correct predictions...
you are right, not all predictions are correct.
I draw lines for trends only, for analysis I use RSI, Bollinger Bands, Fibonacci levels (especially the 0.618) Moving averages, elliot waves etc
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I am thinking around those levels away. Get the feeling the market will continue sideways pretty much till December before increasing slightly.
agree 👍
I am a newbie to the crypto, although I collected some staring in 2012, But this year I got started back at collecting from free faucets in March, and I have noticed that Bitcoin seems to have found a area which is pretty much around where your predicting but in my mind the I think that it will be 6500-7700ish, that seems to be where Bitcoin as been sitting since about June-ish this year. Nice post and we will see in December whom is right.
thanks for posting your comment 🍀🙇♂️
this is how we learn from each other 👍
仅对图表来说，横有多长，竖有多高，哈哈，等待和希望！
please english
wait and hope
sure! 🤞
I'll say we hit a new ATH and settle at 12500 by the end of the year.
that's very optimistic :D let's see, fingers crossed
Dear my friend, I'm very new to crypto and just increasing my knowledge about it. Then want to ask you whether any political issues influence on the rate of it or not.
Nima jan, it's a great question, I will comment on this in a post, will let you know.
my closed answer is yes!