When BTC Price Can Reach $100K? Secret Patterns Revealed By Traders


When BTC Price Can Reach $100K? Secret Patterns Revealed By Traders

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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There’s a huge amount of crypto pundits who believe in might and potency of Bitcoin, thus reckoning that BTC will multiply its cost in the nearest years. Take John McAfee alone: he states that Bitcoin will cost $1mln! However, even if it’s true, years should pass for BTC to reach such heights. Let’s take a more viable Bitcoin price prediction - $100,000. What are the chances for BTC to rise its value by x12? And most importantly, what will drive its growth?

Let’s take a look at several BTC price charts and interesting patterns – that might give you a hint.

The pattern that we missed

Will we see BTC reaching $100K by 2020?

Bitcoin is now next to making the 0.382 Fibonacci retracement test (ATH to $3,150 bear cycle Low) and one thing has shocked the crypto world more than anything: considerably shorter time it has taken for BTC to do so compared to the previous two cycles. Few expected such a strong and continuous rebound since the $3,150 bottom. Is that right? Since most researchers thought that market cycles take longer within Bitcoin's parabola, why are we seeing such a strong rise and such a short test of the 0.382 Fibonacci?

TradingShot has already noticed BTC/USD band shift on the Fibonacci Channel, warning of an upcoming hyper strong bullish sequence while the price was still $3,800, and it is now more relevant than ever before.

Maybe the cycles don't become longer each time. Maybe they take turns. One is longer, the next is shorter and then the process is repeated. So far, the Fibonacci Channel since its inception has been providing very clear supports for the cycles' bottoms (on 0.5, 0.382, 0.236 and near 0 in succession). This process may be reversed from now on with each bottom being on a band higher.

The current strong rebound from $3,150 to $9,100 may be an early indication of this band shift showing that the very aggressive bull cycle of 2012 - 2013 may be repeated. This suggests that the $100,000 land mark may come as early as 2020.

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Double bubble: $50-100K in a month

BTC could boom if $11K resistance is broken

VictorCobra has posted a scenario of the accelerated boom, which is pure speculation, but seems to be interesting.

Looking at the only time Bitcoin behaved this way of a bottom (2013), we can see that it barely corrected before it made its next top. A lot of people have been joking around, saying that Bitcoin may not experience large corrections during this current bull cycle, before the eventual top. They may end up being correct.

If Bitcoin follows a similar path to 2013, something like the past scenario could happen. This also means that Bitcoin could increase by over 1000% within the next several weeks.

This seems to be extremely unlikely, but it was also unexpected for Bitcoin to smash through all the bear market resistances so easily. On the downside, there IS still a possibility that we will have one more drop. This rally seems overextended as it is. But this extraordinary bullish possibility shows you why trying to time this market is nearly impossible. Long term investors "holders" almost always outperform traders for this reason.

The probability of this actually occurring would dramatically increase if the light blue channel resistance in the mid $11K area is taken out. Likewise, it would decrease if we continue to stall in this area for more than another week, and if we break down from the blue uptrend again. What's also really crazy, is that many established altcoins are coiling right at a major neckline resistance - which, if broken, would immediately give way to the possibility of new ATH's.

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Through the channel to $140K by mid-2021

BTC can top $140K by Q4 2021

User NickSnydz has made a conservative BTC price chart, which shows more realistic opportunities. BTC will do a double top on this channel between now and November 2021. It will hit the channel top for the first time around $40K at the end of 2019 going into Jan 2020. It then takes a quick dip for a while but begins up again for a double top in this channel. T

The second top before the large bear cycle will happen in November of 2021 possibly into December and has BTC topping near $140K. If you really want to know when to sell in this long term Bull-Cycle, put BTC on the all-time log view. Pull up the RSI. Every bull cycle top goes thru 2 RSI tops near 92-97. Just wait until the second part of that double top starts to come in this time and sell somewhere in that area to be safe.

Final thoughts

It’s up to you to decide whether these price predictions are viable. From one point of view, it’s less likely that we see the same burst as in 2017, from another – BTC is able of doing unpredictable things. Anyway, it won’t hurt to keep some of your assets in Bitcoin – one day, your profits are to multiply.

Bitcoin price charts from TradingView

Cover image via 123rf.com
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About the author

Vera Yurina (aka Vera Thornpike) writes on web tech and works as a translator, copywriter & crypto geek with a strong passion for creative writing and wordplay. Creates marketing and SEO content for IT & hosting companies, ICOs and finance media since 2013.

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ETH Price Is Heading to $400 Mid-Term Level: Why Are Most Traders Bullish?


ETH Price Is Heading to $400 Mid-Term Level: Why Are Most Traders Bullish?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Resisting the bears’ attempts to beat it down, Ethereum price retains its positions around $250. Moreover, it’s said to be approaching the $400 goal. When should it happen, and why are most traders optimistic about ETH’s future? Let’s analyze Ethereum price predictions from tradingview users and compare their price charts – you will be surprised to discover most of them share similar opinions.

Target – wave III

Ethereum moving on waves

Look at the pattern from Crypto_Boer: the wave pattern is playing out perfectly, and now Ethereum keeps moving to the wave III somewhere at the $377 level. The finish target here is $440, which can be achieved in mid-September or October.

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$360 by the end of June

 $400 mark can be hit in August

Here’s another price chart showing us Ethereum’s way to the heights. Bulls may show up soon. Our target is $360 for 50% upside potential. If ETH reaches such a level, crawling to the $400 mark in July-August will be more than possible.

Beware of a double bottom

ETH should go through a correction

Of course, before Ethereum is able to reach the desired heights, it should go through a correction. User JRghost predicts that ETH should touch $287 before starting the retracement. Price may look to hit PRZ and retrace, then extend to double bottom measured move.

Here are the technical indicators to prove that:

  • Coinciding bearish patterns - Cypher/Butterfly.

  • PRZ is highlighted in red

  • .382 and .618 zone for each pattern highlighted in Green

  • 382 is confluent for a back-test of double bottom confirmation line.

  • Higher Levels of Relative Strength

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Closest targets for ETH

Major targets for ETH

User bread911 has noticed a major momentum divergence on the ETH/USD 4 hr chart. The average is $236.50, while our major resistance targets now are $265, $280, and $340. The first two targets can be easily overcome during June, but what about the third one? It’s possible to reach, too!

Final words

ETH looks really good on the weekly and daily charts – we have broken the trend-line resistance, and begun fresh up-trend. The 5th Elliot wave count is looking primed.

If we manage to break up in the coming days, there’s a big chance Ethereum will reach $290-300 and then simply turn down again. It could potentially even become high for the coming months. If we drop and break down from the current patterns, ETH will stay inside the $220-260 range during June, but it will be more likely to break resistance later, and we’ll see a much bigger rally in the coming months.

Some traders also claim they see a triangle on the price chart, which is a sign of bulls being eager to get in and bears giving up. They simply can't break the flag support because there are just too many bulls wanting to get in.

Ethereum has already managed to break the major $230 resistance, but there’s a possibility of an H&S pattern, which we can consider to be some kind of neckline. If it breaks, outcomes might be sad. $250 is a clear short term resistance now, and the trend is still up, so candles are likely to pop up.

It should be noticed that a lot here depends on Bitcoin. For instance, ETH can repeat its current head & shoulders pattern and take a short nosedive. But in case of growth, we’ll see kicking off the push to $400 for the ETH/USD pair.

Ethereum charts by TradingView

Cover image via 123rf.com
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About the author

Vera Yurina (aka Vera Thornpike) writes on web tech and works as a translator, copywriter & crypto geek with a strong passion for creative writing and wordplay. Creates marketing and SEO content for IT & hosting companies, ICOs and finance media since 2013.

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