Today for the Bitcoin price and today is the single most important day for Bitcoin for a very long time. If you are asking yourself are we going to go lower? Are we going to reach a price target or was this already? It is time to buy this. The time to sell is the time to just wait. I want to give you very clear evidence about what I am thinking is going to happen to Bitcoin right now in the immediate short term. I have two indicators that have never failed to predict when it’s the right time to buy Bitcoin to predict the bear market bottom and to predict what is the right strategy for Bitcoin.
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Let’s start off with this chart. I want to make it as easy to understand as possible for you. This is the weekly canvas for Bitcoin and as you already know, this line here represents the perfect fit for the all-time highs the lower line here which I just added recently represents the perfect fit line for the Bull Marg Bear market lows right. This is not even the indicator, I want to talk about what I want to show you here though is this would mean Bitcoin could still go down to a price of, approximately, 21621-21622 US dollars for Bitcoin. But what I wanna talk about is these two moving averages. These two moving averages are every single time perfectly indicating when is the right time to buy. When is the bear market low? So, let’s go a little bit back in time. Let me actually show you exactly what I’m talking about. Let’s take the example of 2014-15 the blue line is actually the 100-week moving average meaning it’s calculated from the last 100 weeks. It’s giving you the average at every single point of time whenever the Bitcoin price is going below that this is when the capitulation starts. This is when the bear market low is coming very soon. The Bitcoin price is hitting the orange line which is the 200-week moving average is the moment where you can say.
We are not gonna go lower again, so the moment we break the blue line. The hundred-week moving average capitulation is happening at the moment. We hit the orange line and we’re not gonna go lower than was the case in 2014-2015. Let’s go back to the next cycle 2017 the moment we were breaking at 6 000 US dollars, the 100-week moving average. This was the moment we knew capitulation is on a bear market low is happening very soon. We hit the orange line bear market low every single time you could even say this was an exception because of the exogenous risk of 2020. We were breaking lower but even there, tell the truth right look at this maybe. We rigged below but the moment we broke it capitalization is on the moment. We hit we actually closed above or at the 200-week moving average Boom Bear market low is in. Now, the question is the same thing here happening once again and now quickly.
Now, I want to know before I continue with my price targets and my actual predictions. What I am doing on my trade here. Let me quickly go into it. I am having my own trade open on BuyBit as well. Fifty thousand dollars in profit is more than a hundred percent. I wanna talk about that just very shortly. Let me know down below in the comment section. Do you think the bottom is in? Do you think we are going to roll over, please, right now? Before I am sharing my opinion with you, let’s go back into the chart and by the way, before I continue with my price target here of course with my expectations for Bitcoin right now in this exclusive content. I wanted to make sure that you are aware of something. Let me quickly go back into it. Actually you see me constantly trading on BuyBit and Femax. I am actually right now boarding another partner into my affiliate section. Let me quickly go into where it is right here prime XBT and Primexpt is not only an affiliate. Why am I adding this this is because they’re actually a little bit different. They are doing margin trading so whenever you are looking out for doing something else then futures trading inverse perpetual which I am trading on a regular basis. I want to trade a little bit more on margin trading as well in the future as it is offering a few advantages. Other ones are not offering and at the same time have a few disadvantages.
You always have pros and cons right. So, make sure you educate yourself about that and the nice thing is, of course. I was able to secure another bonus using the code bull 50 down below and making your own account after I’m using this bonus code. Of course with your initial deposit you can get the 7 000 us dollars on top of the other bonuses as well which is a beautiful thing. So, thank you, so much of course for prime XPT for reaching out multiple times, finally, I boarded them. I think it was about time and thank you for sponsoring the channel now. Let’s go back to chatting. Let’s talk about what’s happening here. So, what you can see is Bitcoin was once again breaking the 100-week moving average towards the downside. This means just based upon historical evidence at the moment. We were breaking it capitulation should be in. You can see we are very. Well, in capitalization. What the question is? However, are we going to break lower? Are we going to break lower to 21 700 here perfectly in confluence actually with the lower band of our perfect fit for the bear market low? You might say yes..this is possible and yes I am also saying yes this is possible. The only reason why I am actually in this long trade which you can see right here right and this is right now almost here. It’s more than 100 in profit, the reason why I’m in. This long trade is actually this chart here which I want to show to you.
Let me actually eliminate the moving averages and what you can see here dear ladies and gentlemen is, of course. This perfect fractal which I was talking about earlier and Bitcoin actually holding also so far the um the orange area which I always mention as my worst-case scenario for Bitcoin if Bitcoin breaks lower now to 21 700 obviously that would be to my surprise so far we are holding my worst-case scenario for Bitcoin and as long as we are not closing this is important to understand a weekly calendar below 28 800. I am sticking to this when we are closing below 21 700 is as long as we are not closing below my worst-case scenario area.
I am sticking to my worst-case prediction of a weekly clause of 28 800 US dollars for Bitcoin this is what I said before and this is what I am sticking to right now unless proven the wrong Bitcoin is above that. This is why I’m saying today is the day Sunday today is the weekly close if Bitcoin closes above 28 800 beautiful perfect if we are closing below. I’m gonna make another video tomorrow. I might change my opinion as long as we are above that as long as we are closing the weekly above. We are at least on track on my prediction which I was quoting since December. I think my worst-case scenario prediction I didn’t predict it necessarily but I said that is my worst-case scenario, unfortunately, it is what it is sometimes the worst case is coming into place let me know what you think about that guy smash up the like button to a new all-time high end.
This article is a transcription of a video made by Andy Bitcoinsensus
Original video: https://youtu.be/kYGyk2magd0