The Daily Chart 50 MA continues to show a healthy uptrend slope. And while the price is bumping up against the upper channel of the Bollinger Bands, and the Stochastic is in overbought territory, we are looking at a continuation of the trend going into next year.
I would expect a slowdown for a little here but with the chart edging up through January 1, tempered with very few red candles or shorter green ones, and the 50 MA working towards catching up with price. The 50 is the mean, and all charts eventually revert to this, but it goes one of two ways, the 50 catches up with price or the price goes to the 50. But the trend slope shows us the direction of price, and that is UP! This is technical analysis 101.
All dips in the previous few months have been short term lasting only a few days, and then some consolidation before moving higher. But we may actually be in a Santa Claus (end year) Rally for bitcoin and that could prove exciting.
Remember, Not everything is Technical Analysis. You have to balance it with Fundamentals as well. When the C.M.E starts trading futures (and soon the C.B.O.E), there will be billions of dollars from institutional money coming into bitcoin both directly as the coin itself and indirectly as a derivative. It will like an ocean of water forced into a smaller and smaller pipe towards a tiny opening, and the pressure will build. Couple this with only so many bitcoins out there, and multi-millionaires who have been in traditional investments wanting a piece of the pie, and gobbling up a limited supply of bitcoins and we’ll see much, much higher prices.
Big Bang Theory will also introduce 15 Million Viewers to bitcoin on Thursday, the majority of who know nothing about crypto.
You can be assured we are going higher. We reached our goal of having a close between $8000-$10000 by the end of the year, and this sets us up for a minimum of $45000 for next year......that’s right.......a MINIMUM.
HODL.
I would expect a slowdown for a little here but with the chart edging up through January 1, tempered with very few red candles or shorter green ones, and the 50 MA working towards catching up with price. The 50 is the mean, and all charts eventually revert to this, but it goes one of two ways, the 50 catches up with price or the price goes to the 50. But the trend slope shows us the direction of price, and that is UP! This is technical analysis 101.
All dips in the previous few months have been short term lasting only a few days, and then some consolidation before moving higher. But we may actually be in a Santa Claus (end year) Rally for bitcoin and that could prove exciting.
Remember, Not everything is Technical Analysis. You have to balance it with Fundamentals as well. When the C.M.E starts trading futures (and soon the C.B.O.E), there will be billions of dollars from institutional money coming into bitcoin both directly as the coin itself and indirectly as a derivative. It will like an ocean of water forced into a smaller and smaller pipe towards a tiny opening, and the pressure will build. Couple this with only so many bitcoins out there, and multi-millionaires who have been in traditional investments wanting a piece of the pie, and gobbling up a limited supply of bitcoins and we’ll see much, much higher prices.
Big Bang Theory will also introduce 15 Million Viewers to bitcoin on Thursday, the majority of who know nothing about crypto.
You can be assured we are going higher. We reached our goal of having a close between $8000-$10000 by the end of the year, and this sets us up for a minimum of $45000 for next year......that’s right.......a MINIMUM.
HODL.