BTC Big Move Coming by June 18th is Highly Likely

2020年6月8日

BTC is heading for the corner of a long-term trend (top of the orange triangle) and a medium-term trend (bottom of the orange triangle). That to me says Bitcaoin will likey move dramatically up or down by 6/18/20.

The remaining question is: does is shift up or down? Please comment if you have a view on that.

I've been watching this long-term trend for years and the medium-term trend formed middle of March 2020 when the COVID dip bounced.

Given the medium-term trend is from the COVID recovery and the economies of the world are all now in a slow upswing, it is possible that because essentially BTC got a running start here heading to breach this longer-term trend - it can now break through the resistance line formed 2.5 years ago. In fact, it already did just a few days ago on June 1st. That was an unusual spike but did not last long. Perhaps that was big money testing the waters of above 10K sentiment?

Normally I would think a 2.5 year trend would hold and I would be bearish here. However, there are many reasons to think now might be the time this trend breaks and BTC launches above and holds above 10K ushering in the march to +20K BTC...

1) COVID recovery has started freeing up cash to move back into all market (including crypto)
2) BTC halving has occurred
3) The psychology of 10K BTC is powerful. Once the news media can focus on BTC and the price goes above 10K, it could easily bring in many more retail investors
4) Adoption has continued to increase and move to the mainstream
5) BTC sentiment seems hopeful in a way I have not observed outside of a time of rapid price increases
6) The upward moves of BTC by large percentage swings (like the move above 10K on 6/1/20 in such a short time-frame) means there is a lot of cash on the sidelines waiting to jump in - cash jumping in is what causes Coinbase to crash and prices to soar (can someone please fix Coinbase's servers???)

One last idea if you read this far - I'm seeing sentiment from long-time crypto traders/supporters move in a positive direction toward ETH. I recommend you study up on Ethereum.