Trading is not just a question of price, but it is also a question of timing. There are many technical analyses which try to predict how much the bitcoin will be worth in the future. However, those analysis seldom takes Time as an important factor to be considered.
In order to simplify this study, there was considered the a count outlined in the previous chart (chat 1) as one valid hypothesis. Consequently, the bitcoin if at the beginning of the wave five of one huge cycle. Another relevant hypothesis for this analysis is that bitcoin will keep respecting those long term represented by the blue parallel lines in chart 1.
Therefore, considering the previous considerations about the Bitcoin chart 1. It is possible to apply the time Fibonacci tool as it is explicit in the graphs below, in order to understand how it is the price behaviour along the previous bitcoin movement in waves (I), (II) and ( III ).
Moreover, based on the analysis of the charts 2, there are two interesting conclusions that should be highlighted. The first conclusion is that the wave (II) ended almost exactly at the 0.618 of Fibonacci of time and the second conclusion is that the price reached his peak exactly at the 2 Fibonacci time as it is explicit in the chart.
Finally, when it is applied at the chart 3. The Time Fibonacci tool shows that the wave (IV) ended at the 0.382 Fibonacci of time. Consequently, it is giving a strong evidence that the hypothesis that the a count considered in the chart 1 is coherent because it is known that the waves (II) and (IV) of , usually finish at the 0.382 and 0.618 of Fibonacci consecutively and alternately. In addition, it possible to find the likely peak for the bitcoin price in the superior part of his on the 2 Fibonacci of time considering that the asset will probably repeat his movement on the wave ( III ).
In conclusion, this present study shows that the bitcoin is at the begging of the wave five of a huge cycle and, based on previous movements, bitcoins likely will reach the end of his wave five on October 2023 with approximately 1 million dollars.
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Published at Mon, 13 Jan 2020 22:13:42 +0000