Trader and cryptanalyst Josh Ranger suggested that the bitcoin accumulation phase will last until mid-July, followed by a steady increase in price.
$ BTC Accumulation Pattern
It took Bitcoin 216 days for accumulation from bottom to spring in 2015
If you were a cumulative candle of $ 1000
Pic.twitter.com/I6YfHiqwdW
– Josh Rager (@Josh_Rager) 5 April 2019 p.
According to him, the current price dynamics is similar to that observed in 2015. After Bitcoin reached the "bottom", the accumulation phase lasted 216 days:
Comparison of the dynamics of Bitcoin price movement in 2015 and in 2019. Daily BTC / USD charts of Bitfinex from TradingView
At the same time , a bull candle formed on April 2, with a value of $ 1000, corresponds to the middle of the current accumulation phase. The latter, Rager is sure, will end on July 19, 2019. However, the trader stressed that this is only a hypothesis.
Later, he published a tweet with a schedule, which indicated that the borders of the consolidation zone could be simple moving averages (MA) with periods of 100 and 200 weeks, acting as resistance and support, respectively.
$ BTC Accumulation W Chart
Previous bear market Bitcoin accumulated under the 100 MA & supported by the 200 MA
Similar accumulation could happen with 200 MA (wick below) with the next uptrend starting after breaking above 100 MA
One possible scenario to observe the next few months pic.twitter.com/BHZ3YN6kHZ
– Josh Rager ? (@Josh_Rager) 6 April 2019 p.
Thus, to start a bullish rally, the price needs to break through resistance in the form of a 100-week MA.
A week ago, Josh Rager shared his opinion that the upcoming phase of the bitcoin bull cycle will end in 2023 at $ 150,000.
The next bitcoin cycle should be reached at $ 150,000 or more per bitcoin
Cycle Peak Prices:
2011: $ 31
2014: $ 1,177
2017: $ 19,764
2023: ??? ($ 150,000 + projected) pic.twitter.com/ikicZbJRhe– Josh Rager ? (@Josh_Rager) 31 March, 2019 r.
In February, the trader expressed confidence that after 2021 most investors will not be able to purchase more than 1 BTC due to the high price of the first cryptocurrency.
The this «Could the BE» for last time the general of the population CAN Afford to the buy an Entire $ The BTC
After 2021 – where the price will most buy fractions
The per household income's of Global is debatable, regardless, $ The BTC Speculative Could the BE of value out of their reach for will most pic.twitter.com/GrmepQyNPp
– Josh Rager ? (@Josh_Rager) 11 February 2009 p.
Recall, according to the head of the exchange Binance Changpen Zhao, huge sums of money are ready to rush to the market of cryptocurrencies , which will go into "FOMO mode".
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