When will BTC moon?

in #bitcoin • 7 years ago

Where will Bitcoin (BTC) go? When will BTC moon? Will it go down again? These are the questions that most people ask these several days. BTC seems to go nowhere and even worse, it seems like it’s going down. So, let’s analyze a little bit.

The perfect Fibonacci retracement

If we draw a Fibonacci retracement from $6,500 to $19,900, we could find beautiful trading zones for BTC. I believe this Fibonacci is one of the most important prediction tools we can have for the current situation of BTC. As you can see from the zones, since mid-March, BTC has been trying to break the 23.6% with no success. So, when will BTC can be said as moving in a bullish market? Will BTC breaking the 23.6% Fibonacci can be considered as a bullish movement? I myself believe that if and only if BTC can break the 38.2% (around $11,700), we then can assume that the bullish sentiment is in charge.


Fibonacci ($6,500 - $19,900) on daily chart. click to enlarge

The normal boring indicators

If we are looking the normal indicators such as RSI, MACD, EMA, or even pivots, we would find that they are not really helpful in determining how BTC is moving. All are indicating that BTC is weak, on the bearish market, and consolidating. Thus, I love the Fibonacci retracement above.

BTC Daily pivots


RSI, MACD, and EMA-200 on daily chart


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BTC : 1HqYTjRdZvss32vDrp1T8gRAXTgdqfZ6VS
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#cryptocurrency
7 years ago in #bitcoin by
$1.09
  • Past Payouts $1.09
  • - Author $0.97
  • - Curators $0.13
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    • [-]
     7 years ago 
    No.Q. roi.
    Total1.83 (45.75%)
    Subtotal2.44
    170.20
    160.12
    150.12
    140.11
    130.12
    120.23
    110.23
    100.14
    90.13
    80.21
    70.21
    60.07
    50.15
    40.14
    30.12
    20.11
    10.03
    $0.16
    • Past Payouts $0.16
    • - Author $0.16
    • - Curators $0.00
    1 vote
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    [-]
     7 years ago 
    No.Q. roi.
    Total1.83 (45.75%)
    Subtotal2.44
    ==============
    20 =10= 0.14
    19 =09= 0.13
    18 =08= 0.21
    17 = 0.2007= 0.21
    16 = 0.1206= 0.07
    15 = 0.1205= 0.15
    14 = 0.1104= 0.14
    13 = 0.1203= 0.12
    12 = 0.2302= 0.11
    11 = 0.2301= 0.03
    $0.15
    • Past Payouts $0.15
    • - Author $0.11
    • - Curators $0.03
    1 vote
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    [-]
     7 years ago 

    never. everyone cashed out to buy pizza yesterday. dominos has lost its private key. no more btc for anyone ;)

    $0.13
    • Past Payouts $0.13
    • - Author $0.10
    • - Curators $0.03
    3 votes
    Reply
    [-]
     7 years ago 

    I think that would make it MORE likely to moon.
    Less in use, = more scarcity.

    [-]
     7 years ago (edited)

    Answer: After everyone has panic sold their BTC

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      [-]
       7 years ago 

      Coins mentioned in post:

      CoinPrice (USD)📉 24h📉 7d
      BTCBitcoin8263.780$-2.22%-4.58%
      DOGEDogecoin0.004$-0.4%-9.08%
      ETHEthereum686.834$-2.57%-5.33%
      LTCLitecoin132.807$-1.97%-7.37%
      XMRMonero187.984$-4.94%-11.26%
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         7 years ago 

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