Hi guys,
In my previous article 2 months ago I talked about one last scenario before we go bullish again. It played out very well and accurate with the help of TA. As mentioned there, I took all my positions back at $6600-$6800. Since then we went indeed bullish a few days after it and we had 4 beautiful green weeks after that. At this point we are sitting a few weeks in the red again but no worries!
I am still bullish since that point from my previous article and nothing really changed. After 4 weeks of green it was quite a task to break $10000 which can be considered as a psychological boundary and also it knocked against the 200ma line. And then not even talked about that huge resistance at $11800. We didn't reach so far but that is not bad, we needed a pullback after 4 weeks green. The same apply to this situation, we have had 3 weeks of red so if nothing really changes in the upcoming week we will see a new momentum upwards next week.
In this article I gonna talk about cycles and the importance of it. You have to understand that everything in life goes in cycles. Look at mother nature, she gives us four seasons and that is for a reason. Flowers, plants et cetera can't bloom forever. Exactly the same you can apply in crypto; crypto can't grow/go up forever. There have to be seasons were everything 'corrects' so that it can grow and bloom even further the next spring!
In trading, this is a basic example of a cycle. Now I can apply this on bitcoin but there is a guy with a lot of followers and what I like about him is he keeps everything quite simple. That's exactly the way how I make my decisions, not with overanalyzing things. You have to understand the bigger picture and you have to understand that predicting prices on the small time frames is nearly impossible. It is very difficult and even stressful in a market like this, that's also why I post only a steemit post once in one or two months because giving good predictions short term is very difficult and I don't have the time anymore to watch and analyze this market each day.
Back to the cycles, I recommend you to watch this from the 9th minute:
Below is the end picture of his analysis and I have to admit it doesn't seem simple but that is because all that yellow lines he drew in his analysis to explain his words in the video. Therefore the best thing you can do is watch the video if you want more background on it.
On that, I would like to give my comment because I could not agree more with this guy and I think end June/beginning of July we will see some positivity again and at the end of 2018 we will see some craziness when these cycles come together and strengthen each other.
I think a lot of people would take profits in january 2019 because they will think that this will be the period everything corrects itselfs again (because of this year and previous years). But I think that will be the moment where the small players are going to make a huge mistake and miss out a lot of profits because 2019 will be unstoppable.
So based on all this, I will be bullish till at least end 2019/begin 2020. I have taken my positions for the upcoming 1,5 year so I am not going to sell or trade anymore because it isn't worth it anymore for me. At this point, I'm gonna wait patiently and let the things come to me.
Cheers!