Bitcoin Price Forecast and Beware Bitcoin Regulation
Weekend trade returned the Bitcoin Price to the lower trendline of a channel that previously contained wave action. Price action is animated but awaits Monday trade to set direction. Today's analysis takes a long-term view to try and put expectations in perspective. Weekly Bitcoin Chart. In order to get a coherent historical picture, the combined BTC-China and Mt. Gox weekly charts provide us with the most thorough price records. Mt. Gox. Firstly, the blessed Mt. Gox weekly chart. Notice how, at inception, price spikes out in an expanding triangle formation that pivots around $0.06 before....
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I have been asked both publicly and privately to speculate as to when and where the price will bottom. Speculation of that nature is risky, because it is so very easy to get the forecast wrong. Unfortunately, the nature of the internet audience is such that even if the forecast pans out, trolls will say it was a "lucky guess," or otherwise find a reason to minimize that success. On the other hand, if the forecast proves to be mistaken, the mistake will be loudly heralded as proof positive that the analyst knows nothing at all. However, there is a place in price-time which is increasingly....
Bitcoin price is back above $55,000 in a lighting fast recovery from below the key level of $50,000. Although the rebound thus far appears as if it is a gift from the heavens above, the technical forecast suggests cloudy days are ahead. Here’s a closer look at everything going on with Bitcoin “at a glance” […]
Last month, the popular bitcoin analyst and creator of the stock-to-flow price model, Plan B, explained that he believed the “bull is not over.” On August, 6, Plan B is still showing confidence in his forecast and reconfirmed his message from last month. Meanwhile, bitcoin prices have been able to bounce back and on Sunday, bitcoin prices tapped a high of $45,355. Plan B Shows Confidence in Previous Forecast While Bitcoin Prices Tap Fresh Highs Bitcoin (BTC) has been on a tear lately and oddly enough in the face of regulatory uncertainty in the United States. BTC has gained....
Throughout yesterday Bitcoin’s price was shivering between $430 and $440. Strengthening of the Dollar continues to pressure Bitcoin. Furthermore, after two weeks of Bitcoin growth from $380 to $458, we should now expect a price correction. US GDP data released yesterday turned out to be higher than predicted, but still were lower than in the previous period (actual 2.0%, forecasted 1.9%, but previous 2.1%). Today an important block of Statistics that should highlight the main index for personal consumption expenditures in November (forecasts 0.1% against previous 0.0%) will be published in....
I think even any remaining sceptics can likely agree with what I have been saying on this page for the last week, i.e., that lower prices were coming before higher prices. Now I would like to try to answer the question of when the most likely time to reach the bottom might be. To do that, I used a Fibonacci accordion to measure time ratios across a 5-hour chart. If any of you do not know what a Fibonacci accordion is, you owe it to yourself to do some research. It is a powerful tool to forecast likely high energy time frames in the future, as well as price support and resistance. IMHO it....