My analysis shows Bitcoin's price is at the bottom and my analysis also shows a rise is coming.
and where is this analysis you are talking about?!
when you post an statement like this, you have to post the analysis too! use tradingview.com if you haven't already
Well, I am not so sure I want to publish charts, but I did describe my analysis earlier in the thread:
"Thanks for asking, but I don't have the chart posted anywhere and I would have to upload it somewhere to show it here.
Basically, the price seems to have gone above the downward trend-line it has been following since 1/15/18. Breaking above that trend is a big shift. Also, my estimate is that on 1/21 the price fell below where the BTC price would have been had December not had such a crazy shot up. I now believe December was an outlier. So, if you remove December's crazy growth, we have now reached (1/21) and then gone under (1/22 to today) where BTC should have been had December not gone crazy.
My estimate of where it would be today, if not for December is 12,500. Since we are both under that line (below 12,500), and also now breaking the downward trend from the past several weeks in an upward manner, I think we have already hit the bottom.
If you don't throw out December, we are due for rise to 18K to 24K which is why you see that number a lot.
I'm doing things differently by suggesting December is an outlier. When you find an outlier in research, you should throw it out.
The December to now drop is 50% (almost). That's not normal for Bitcoin - clearly an outlier. If you remove December, we are right on track for where we should be today, just a little under which should mean growth is coming back soon.
Throw in that people are waiting to jump back in, and who knows where it rises to. But the clearest signs I see are we are at, or already hit the bottom, the floor.
I know I sound sure, but I'm new to charting, so I'm not sure. I'm good at research, but new to charting Bitcoin though I have followed the community for years."
Updated analysis...it looks to me like like 11600 (or around there) is the new floor. That is a very new pattern, so it's less stable than what I used above. But it also fits with my theory that we should be closer to 12500 today, and we are not there yet. For me...I want to see us breakthrough and hold above the 12500 line, which by the way, is at 12750 for February 1st (it is a rising slope).
