Today’s forecast is based on the results of voting by users of the cryptocurrency exchange Whitebit. Therefore, we present to your attention the analysis of the BTCUSDT trading pair.
This chart shows the dynamic and horizontal fibo levels. These levels perfectly show their performance as lines of resistance and support during the presented history of trading from 2013 to the present.
Gann box was also used on this chart. There are many complex and simple methods of its application. We show you one of the simplest – cyclical changes in price trends near critical vertical levels. They work well in history and “subtly hints” that a reversal is possible soon.
And “the cherry on the cake” on this chart is a possible fractal of the Bitcoin price movement in the next 1.5 years with a maximum value of 358 thousand dollars.
Bitcoin forecast on a 3-day timeframe
We will analyze this fractal on a smaller, 3day time frame.
It seems that for the next 2-3 months the price of BTCUSD may get stuck in a wide trade range of $20,000-27500.
How to use it? It is unrealistic to catch the absolute bottom, but it is realistic to get a good average buy price for a medium-term trade. To do this, place a grid of purchase orders in the range of $19000-20500 and let the orders on the straits be filling.
A good sign that the cryptocurrency market is recovering will be that when the price of the BTC will be traded in a wide range, the capital will gradually begin to flow from stablecoins to altcoins. As a result, alts may start “firing” in the coming months. Well, and further the strong general trend of growth, but about it in the following reviews of the market.