- January 4, 2020
- Posted by: Tradingshot Articles
- Category: Cryptocurrency
New year for Bitcoin and a whole new possibilities ahead. On this study I will share my 2020 year-end projection. There is no better place to start with than using the previous Bull Cycle, namely the start of it (2016 – 2017), as a reference point.
*The time from All Time Highs (ATH) to ATH test*
I think it is useful to point out that during the previous BTC Cycle (2014 – 2018) it took the price 3 years to test the previous ATH. That was at the end of 2017. 2 months later Bitcoin made new ATH and that initiated the start of the final (and more aggressive) parabolic rise towards the current ATh which is $19800.
If the same pattern plays out this time also, then towards the end of 2020, Bitcoin should test the current ATH and a couple of months later break it. Plausible? Certainly, considering we have the 3rd Halving in May 2020. Notice also how a -4o angle trendline from the ATH of each Cycle applies Resistance and keeps the price below it until only a few months before the ATH test.
Do you think the $19800 ATH will be tested towards the end of 2020 or you have a more bullish/ bearish prediction? Let me know in the comments section!
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