Monthly upper bband will be strong resistance at 12-13K

It has been a while since we've taken a look at the monthly picture.

We can see that the monthly candle from May went effortlessly through the middle bband. This is a very strong sign.
Also, the monthly stoch RSI, is going from oversold to overbought, which traditionally has always been the beginning of the
new bullmarket.

Therefore I think that BTC will not go above 12-13K in this run, as an upper estimate. We need a long while of sideways consolidation,
with some dumps here and there, down to the 6-7k range.

After a long while of slowly creeping upwards, we'll pick up steam again to get to new ATHs by the late 2020, early 2021. Peak sometime in 2021.
100k lower target, 200k upper target. Let's see :)

コメント:

This chart here is at play again, since BTC doesn't want to correct just yet. The upper monthly bband will at least make BTC go sideways for a few months at the 12-13k range.
After that, the bulltrend will resume at some point, going for the old ATH, possibly making the good old giant cup and handle with the old ATH.

Then we might see new ATHs already in 2020, in extreme cases even later this year. We can watch and observer how fast BTC wants to make new ATHs, because that will also impact how high the ultimate ATH in late 2020-mid 2021 will be. It could break above the curved resistance, and go back into the old exponential channel. In this case, we might see insane prices, north of 100k.

コメント:

It exactly hit the upper monthly bband. I cannot yet get throught it seems. If we see larger dumps here, we will do the gold chart: Back down to 8k, then up again and to ATH and beyond.