Bitcoin Entering Accumulation Zone? 2020 Really Stinks!
Is Bitcoin entering accumulation zone? Who knows?
Please support my post if you find it informative. Thanks,
I shared a post long time ago (see tradingview.com/chart/BTCUSD/r72QIPrS-Bitcoin-could-be-still-in-bear-market-4200-4400-is-my-buy-in/) to compare this cycle with 2013-2015 as everybody does! But mine was different and nobody paid much attention to it, however, as time passes it proves itself day by day. I am following the same idea with slight updates according to our additional observation since then.
I am looking at monthly price, RSI and MT Plus signal. I see much more evidence that we are around February 2015 entering accumulation zone. Yes, I think 2020 will be the accumulation year and we will probably be ping ponging between $5000-$5500 to $7500-$8000 (I pick very rough numbers just to get the idea). YES, this is another reason that 2020 sucks and is not a fun year (as it has not been so far).
On RSI plot, I color coded the equivalent time frames and it sounds we are around that little blue line.
If these all are true, we should see the momentum fades out (as it has already done, see the MT Plus) and gain back in future months (6-9 months?)
I personally think any number below 7k is really fair and a cheap purchase if you think of long term investment (THIS IS NOT A FINANCIAL ADVICE, THIS IS WHAT THINK!) What do you think?
Please support my post if you find it informative. Thanks,
I shared a post long time ago (see tradingview.com/chart/BTCUSD/r72QIPrS-Bitcoin-could-be-still-in-bear-market-4200-4400-is-my-buy-in/) to compare this cycle with 2013-2015 as everybody does! But mine was different and nobody paid much attention to it, however, as time passes it proves itself day by day. I am following the same idea with slight updates according to our additional observation since then.
I am looking at monthly price, RSI and MT Plus signal. I see much more evidence that we are around February 2015 entering accumulation zone. Yes, I think 2020 will be the accumulation year and we will probably be ping ponging between $5000-$5500 to $7500-$8000 (I pick very rough numbers just to get the idea). YES, this is another reason that 2020 sucks and is not a fun year (as it has not been so far).
On RSI plot, I color coded the equivalent time frames and it sounds we are around that little blue line.
If these all are true, we should see the momentum fades out (as it has already done, see the MT Plus) and gain back in future months (6-9 months?)
I personally think any number below 7k is really fair and a cheap purchase if you think of long term investment (THIS IS NOT A FINANCIAL ADVICE, THIS IS WHAT THINK!) What do you think?
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