BItcoin Q1 Price Action reveals a Pattern!! | Cryptocurrency News | Chepicap

hi I'm David and I'm here to talk to you about Bitcoin price analysis for Thursday February 7th 2019 today I'll be taking a deeper dive into Quarter 1 price action for Bitcoin over the last six years seeing if there's any general trends that emerge and if so could we apply them to today to make maybe get some ideas about where the price is going normally I use coin base for my charts but today I'll be using BitFenix as it does have it's been around longer and has price action data going back further so without further ado don't forget to Like and subscribe below if you haven't already and let's get started so here we see quarter 1 of 2018 I have each month kind of nicely marked with these green lines just to make it visually pretty easy to see so let's take a look at what patterns we see here obviously it's no big surprise to anybody that we started 2018 and a bit of a the beginning of the the bear run right after the new year we can see a bit of a spike right here followed by what ended up being a rough rest of the month a rough January that carried on into February but then February saw this nice little rally which leveled off a bit and brought us into March and then March took back pretty much all the gains we saw in February ending the first quarter lower notably than we had started it and that's not surprising in the midst of a bear run so let's keep these basic patterns in mind spike right after the new year a rough rest of the January a rally in February but those gains are lost in March and ending the first quarter lower than we started it on keep that in mind now let's look at 2017 here's 2017 and right off the bat now we can see we were coming into 2017 on much more of a bull run and but still we saw a very pronounced spike right at the beginning here followed by although a less severe drop-off still a pretty rough rest of the January it had a dip right after the spike and then just never really recovered moving into February we definitely saw more of a rally though there was still a spike near a dip near the beginning of the month but then it's wrong February but again March ended up taking back most of those gains and actually in this case we ended the first quarter a little just a little above where it started it ended at a 1041 we had begun that quarter at 966 so less than $100 difference pretty much the same but up slightly now we're looking at 2016 and heading into 2016 we were already on a bit of a bull run right here but that had tapered off sort of sideways action and sure enough in the first week after the new year we do see a spike though not as pronounced followed by a pretty good dip and a generally rough rest of the month again now we come into February there is a tendency here for this little hiccup in the beginning of the month but then sure enough at rallies for most of the rest of the month ending pretty strong going into March we see a dip not as bad of a sell-off here but we still go back on a lot of the gains from February and we end the month again pretty close to where we started this time with a slight downward tendency for 13 we ended the the quarter and we started the quarter at 429 so kind of like 2017 almost in the same place although this time technically down a little bit okay here's 2015 now it's pretty obvious we were coming into 2015 on a pretty sincere bear market as you can see we don't really get a rally we get a pretty big dip right at the beginning of the year however you could argue that maybe this attempt at pulling back out of that dip was our new year's rally basically but in such an intense bear market there wasn't anything I could do we see continued sell-off another attempt at a rally as the month went on but the month ended pretty poorly as you can see February doesn't have as much upside but we do start to turn that around and go back up and March is a little bit more even here it spends about half the month going up and the rest going back down but still taking back much of what it gained and here we definitely end the quarter on the low end we end at 247 we started the quarter at about 320 – more pronounced dropped in this quarter in the last year we're looking at his 2014 now 2014 we had just seen a recent all-time high we were coming off of that and entering into a general bear market but actually heading into the first of the year we were tending upwards and we saw that really accelerate right after the January first we saw a nice spike again right here that led to a you know general tapering off for the rest of the month and a aberrant to most of the months are the quarter ones we've looked at February was just pretty much all downside here there was no real rally in February at all March attempted a rally and then lost all of it and then some more and once again we've ended our first quarter lower here we are at ending the quarter 1 at 460 we started it back up at 737 so what are the basic trends we've noticed I know that not none of these held up for all the years we looked at but there is a tendency for a spike at the beginning of the year right after January 1st there's a tendency for that to turn into a rough January usually we see a rally in February though that's not shown here in 2014 and then March often takes back a lot of the February gains and we usually end the first quarter at about the same level or a bit below than where we started it so let's take this and look at the current charts ok 2019 up through today now we began 2019 here you can see heading into the year we had recently had a dip in November pretty big dip we'd leveled off a bit and we're kind of heading sideways but sure enough though it wasn't that pronounced we see a bit of a spike right after the beginning of the year first few days followed by basically a January filled with Southside action now we're just going into February it's been the first few days of the month so it's too early to say much we see that there's a little bit of a dip happening a lot of the other years started February with a bit of a dip now from here on out everything I say is of course if if these general trends happen again this year then maybe this is what will happen first off this dip might very well not be over we could easily go back down to this level here about 3,200 or so I was a recent low if that does become the bottom and we do start to see movement back up then we're probably looking at something like about 3,800 or if we're really lucky about 42 – 42 30 these are recent levels of resistance we've seen and based on previous years I wouldn't expect anything really higher than this the 40 to 30 level now keep in mind even if that does happen March often takes back the gains from February so we could see another sell-off in March bringing us back down to you as we've observed most quarter ones and at or below around or below where they started so if March does go that way we could expect to see an end of quarter one at or below 38:32 which is where 2019 began that's not a guarantee any major news positive or negative could completely change this assessment but if the same pattern holds for the last five years or so then it's unlikely we'd be significantly higher than the 32 38:32 level that we entered quarter one on well that should about do it for me this week as I always say and it's even more true this time this is not investment advice these are just some observations I've made go do your own research go make your own decisions until next time don't forget that like and subscribe good luck with your trading

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