Topic: The end of the sideways market is only a few months a head. TA - page 3. (Read 697 times)

well the real question is whether you think bitcoin has stopped growing or being adopted.
if yes then you can conclude that there will be no more rises this year and we will continue seeing price going sideways or even drop more.
but if you think it is still growing and the adoption is happening then you can't say there is no rise this year. we have already had the drop which purged the market from that "hopium" dudes and all traces of the bubble and then some. so there is no other option left but to rise after this accumulation phase ended. and this phase can't take much longer.

indeed things are different now, but this does not invalidate the high possibility of things happening again, things can happen 1 month/ 6 months earlier or later than how they happened in the past, also giving the size of btc market, values can differ 10%/100% , but the overall picture is  most likely going to be the same.

From the point of view of technical analysis what you say is valid, what happens is that the conditions in 2014 and 2015 were very different from those now, if we take into account 2018-2019. I agree only that it has been 1 year of the accumulation phase, so it lasted until 2017, so that bitcoin was located in an uptrend.

If we are guided by repetition of the story, we should wait at least until the year 2021, which, would be 4 years of the accumulation phase to enter the uptrend.

But to say that this year we reach an ascending phase, it is not impossible, but in reality it is very difficult, normally the Maker Markets, usually wait a long time in the accumulation phase (according to my analysis in the philosophy of Wyckoff) until El 70 80% of the bitcoins are accumulated, at that time, it would be predicted that the bitcoin price would be ready to start its bullish.

What makes you so confident that a bull run is due this year? More hopium is definitely not what these people need.

I honestly think that it's more likely that 2019 will be quite boring overall, and if we do happen to see an increase of some sort, it won't be anything like a bull run. On top of that, due to clowns such as Tom Lee people have given up on perma bull type of predictions, and that's actually a good thing. It's super deceiving to promise people golden mountains while the market is a pile of rubbish in the short to mid term.

Well said! Bitcoin price had prove out for a thousand times that it doesn't really follow on TA's analysis anytime.It can break out nor follow, no one really knows
and that's why im not relying too much to look actively or do make chartings but well we do have our own ways but it isn't really bad to have some analysis at all
rather than seeing blindly.

No matter how good the prognosis looks, the market is not definite and we can only be optimistic but never completely convinced about the outcome.
Checking the price now I can see it's dropped below the $4k mark. I do not follow up the charts as often as before, I prefer to hodl and wait for whenever it reaches myself target profit.

I am just so happy that I am not the only one who has faith in the market this year and believe that we are definitely going to see a bull run in the price of bitcoin and order relevant cryptocurrency in the next few months to come in 2019.

There are a lot of persons who have already given up on crypto because of the lost they faced in 2017/2018 but I have been advising them this year to forget about that lost and focus on the profit they could actually make when we begin to see a bull run in price this year.

sup people !

 so up to this point, the 2014-2015 seems to be playing out quite accurately, or maybe because we have no better reference, this seems to be the only proper way to make these long-term analysis.





looking at the weekly chart, 2015 aside, we can clearly see that the 40-42 zone on the RSI has been the most circuital area for the lower side of the market.

by looking at the 2015 bottom, we have the following.

a major drop to around 28 level on the weekly RSI,  3 breakout failures, a break out , a retest and a bull run.

so what do we have in common so far ?

a major drop to around 28 on , 1st attempt to break above is about to happen - this leads to a short term market analysis ;

For this mini rally we having, many traders are calling for a test for the 6k area, but why do i doubt that? along side with many other inductions, breaking the 42 RSI on the weekly is something MAJOR , i don't see it happening this time, we are already at 39.5 , i don't see much room for price to move up , a few hundreds is probably it ,if ever.

Back to the long term view, now assuming the theory remain valid and we drop from the 40-42 level, we should head back to 3.3 to 3.4k where the 50SMA on the monthly and the 200SMA on the weekly sit, we then need to test the 40-42 level again maybe 2 times, once we break it, we going to test it again, fail to break below and the bull run begins.

this puts us some where around July, tho timing is not important, it's all about breaking that 42 level and then retesting it , that will probably be the best time to go long if you want to watch your portfolio grow every week, but as far as we are below the 42 RSI on the weekly, chances are we going sideways or dipping even more.


This is not financial advice, buy/ sell as you see fit at your own responsibility.