BTC New Historical High in 2020

BTC New Historical High in 2020

With BTC in the early phase of the next bull cycle, it’s time to take a look at where we may end up at the end of 2020.

Leading up to the 2013 100x bull run and the 2017 10x bull run, two common occurrences we saw were the following:
– Prolonged consolidation periods before and after the initial price pump
BTC Halvings (November 2012; July 2016)

So far, we’ve already seen the consolidation at 4k and the initial price pump to 14k , and we all know that the next halving will happen in May 2020. Given the still heated discussion around whether 4k is the bottom or we are going to drop below 1k, we do think the key resistance zone at 14k needs to be tested before we break to the upside. This will lead to several months of consolidation in the 7-14k zone.

Similar to the 80% price pump before the July 2016 halving, we may see a speculative effect in March – April next year, breaking above the 14k resistance. (The less of a speculative effect before the November 2012 halving may be due to the digital asset’s lack of media attention at the time.) This same type of “buy the rumor, sell the news” behavior has occurred numerous times in the crypto space, leading by the BTC future trading launch on CME and CBOE . BTC price increased more than 300% prior to the actual launch, followed by the 2018 and 2019 crypto winter.

As for specific entries, we still are a big fan of RSI holding/failing its MAs. And this type of pattern is always magnified when it happens at MA crossovers.

For our subscribers, if you are trading on both sides, congrats on the 5% profit in the past two days! Keep it up! However, we do have a long side bias at this point, and highly recommend focusing on the long Crypto Performer/Performer Pro trades. Any of these alerts could be a 1-5k rise! Also keep an eye out for EOS, as we are spotting stronger bullish momentum compared to BTC . In fact, for the next long side alert, we are going to be mainly trading EOS.

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Published at Sat, 09 Nov 2019 05:08:30 +0000

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