Bitcoin vs Silver Parabolic: BTC $8.000 – $10.000 Next?

Technical Analysis and Trading Ideas

Bitcoin vs Silver Parabolic: BTC $8.000 – $10.000 Next?

So far, the resemblance between the parabolic pattern of Silver 2006-2012 and the current parabolic pattern of Bitcoin is remarkable.

If this pattern keeps aligning, then it looks like Bitcoin is on its way to nr. 12, target $8.000-$10.000. A break above nr. 11 and the pattern becomes invalid.


This is one of the charts from the previous analysis of Bitcoin, JAN 3: Full story here: Bitcoin – Sell The $17-18k for $10k Target End Of January  in which I explained that BTC could rise to $17-18k based on the parabolic patterns and then visit nr. 12 for a $8k-10k target. Scroll down for a fresh chart.



 

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Silver 2006-2012 vs Bitcoin 2017/18


Looks like BTC is in its way to nr.12, target of $8k-10k. A break above nr. 11 and the pattern becomes invalid.

I have a small short position at eToro (short term hedge, stop loss to break even) but if I take a look at my total net position, then I’m still overweight long cryptos (ETH, BTC, LTC, ETN, PRG are my 5 main positions, total 7% of assets).

Long term, I would like to add BTC between $6k-10k and invest 20% of assets in cryptos again.



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STATUS UPDATE

CLOUD MINING CONTRACTS


BTC ProMiner

Start JAN 3 – Investment 0.01 BTC ($150), Withdrawals: $ 0.006 BTC ($90, after fees) since 8 days.


I’m close to the 3rd withdrawal limit of 0.003 BTC (after fees) bringing my investment close to break even: a free lunch for the days to come!

Scam/Ponzi or not, as long as I’m able to withdraw BTC, I”l play along.



 

 


Total Portfolio Strategy 2018


If you want to read more about my Total Investment Strategy, then please read this update first: 2017 Performance and Total Portfolio. 

Or read my latest update on the US Markets: Dow Jones Industrial, Party Like It’s 1987! 

This is what I will do over the next couple of weeks/months:


 

 


Follow or Copy other Traders! 



 


Crypto Rating Desk and our ICO Portfolio of 100


ps. I started a new project, for and by my international students.

We analyze upcoming ICO’s and when we see a project that we like, we contribute. Our latest contribution is LHCrypto, a token that pays out a monthly cash flow, has a working business model and is active in a growth market.

We now have 15 contributions, and our goal is to build a portfolio of 100 tokens that generates a periodic cash flow (Portfolio of 100).

Feel free to follow our ideas: CryptoRatingDesk.com



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