Hello,
After successfully predicting BTC moves in 2016 here on the forum, I have a new set of 2017 predictions that I'm using to trade the current move.
1. Rise to $1,200-$1,300 (Current move)
2. Correction to $800-$900 level and range trading for a while
3. Rise to $1,500
4. Correction to $900-$1,000 and range trading for a while
5. Continued rise to $2,000 by end of year
tldr; BTC will double this year after making a couple of moves up and down.
After successfully predicting BTC moves in 2016 here on the forum, I have a new set of 2017 predictions that I'm using to trade the current move.
1. Rise to $1,200-$1,300 (Current move)
2. Correction to $800-$900 level and range trading for a while
3. Rise to $1,500
4. Correction to $900-$1,000 and range trading for a while
5. Continued rise to $2,000 by end of year
tldr; BTC will double this year after making a couple of moves up and down.
Setting aside that your 2016 predictions weren't that accurate (50% accuracy is a coin flip), you provide nothing to back up your predictions, and currently aren't doing so well one week into 2017. Are you just shooting in the dark or do you have anything to base your predictions on other than whim? Because it seems more likely that we're in another deflating bubble period, as opposed to an environment that can sustain the momentum that ended 2016. This is a repeat of 2013.
I use a combination of technical analysis, fundamentals, and past behavior. I modify my results to account for the pump and dump nature of bitcoin movements. So basically, I increase variance.
What do you mean I'm not doing well one week into 2017? So far, I've traded all moves perfectly. I sold at peak and I am now looking to repurchase once I verify my support levels. Also, the 2016 predictions were extremely accurate from a trading perspective as following them resulted in a generous profit.
We've now dropped to the $800 level I thought would serve as support for range trading. The level was broken through briefly but the speed at which the price returned to above $800 strengthens the support significantly. I will probably begin to buy again if the level holds until Monday.
I don't think BTC is in a bubble phase. I think the bubbles are short lived and over time add long-lasting value.
Both my first and second predictions for this year happened almost exactly
