Here's my future outlook for Bitcoin , on XBTUSD Bitmex. There are many wild predictions out there, so this one may be a little compared to some. Sorry no rocketships.
As the bitcoin market is beginning to mature, and more liquidity comes into the space, I believe the charts will take on more conventional patterns and market structure.
Everyone is calling for $50k or $1k, so I don't believe we'll see either one soon.
What I believe we could see going into 2020 and beyond is a large consolidation in the form of a symmetrical triangle.
Fibonacci ratios from the run up to the $20k peak provide some levels to look for support and resistance .
This is only one possibility of many potential outcomes, but I believe this scenario is plausible and I have not seen it presented anywhere yet.
As the bitcoin market is beginning to mature, and more liquidity comes into the space, I believe the charts will take on more conventional patterns and market structure.
Everyone is calling for $50k or $1k, so I don't believe we'll see either one soon.
What I believe we could see going into 2020 and beyond is a large consolidation in the form of a symmetrical triangle.
Fibonacci ratios from the run up to the $20k peak provide some levels to look for support and resistance .
This is only one possibility of many potential outcomes, but I believe this scenario is plausible and I have not seen it presented anywhere yet.