The past two weeks have seen crypto markets flying high after a depressing 2018. Unfortunately, many traders are starting to fear that the good times are about to end with $3100 on the cards for Bitcoin. While that might be possible in the short term, Bitcoin (BTC) appears to have entered a bullish cycle. If that wasn’t enough, Stratis (STRAT) is going through a phase of heavy accumulation, indicating that a breakout is just around the corner. Finally, Verge (XVG) looks set to break out of its range and head to the moon – which is great news for XVG holders.
Bitcoin Bulls are Back in Town
It’s the news millions of crypto holders have been waiting for – Bitcoin finally looks bullish. Taking a look at a six-year view of the Bitcoin price charts, with a focus on the logarithmic scale reveals an interesting set of trends. Growth cycles are typically lasting around 150 weeks, while fall cycles last between 51 and 60 weeks. This trend fits in perfectly with the delicate price rise we began to see as 2019 crept in, and with the next set of 150 weeks well under way, the Bitcoin price is booming.
If Bitcoin carries on following this trend and current growth rate, we could see $80,000+ hit by the end of the 150 week period in November 2021. While this might seem a long way off, there are a number of key events set to happen during this period that would add more fuel to the fire and help it soar past $80,000. The next halving is due in 2020 and will help see the price of Bitcoin rise significantly. All these factors are pointing towards a bullish trend, so buckle up and book a test drive at your local Lamborghini dealership.
Stratis is Heavily Accumulating
STRAT might not be the most popular project at the moment, but it’s currently looking like a great token to add to your portfolio. It’s been in a state of heavy accumulation since mid-February according to the daily resolution – heavily interacting with the EMA-50 at 2348 sats. It was one of the few tokens to enjoy a nice spike in price over the Christmas period, but its start to 2019 has seen it fall significantly. There is good reason for this heavy accumulation, Stratis is about to break the news of its latest network upgrade, along with launching its updated roadmap.
Both of these events will bring positive sentiment to STRAT and help it break out from the accumulation phase and up towards the dizzying heights of 33000 sats or higher. Our recommendation is for a target buy price of around 24000 sats, with a stop loss around 19000 sats – depending on your risk appetite – and a sell order waiting at 32000 sats to take profits off the table.
XVG is on the Verge of a Breakout
XVG is another gem that needs to be in your portfolio and it’s looking ripe for a nice little breakout. XVG has found a new level of support above its 200 ME, has tested and confirmed its new level of support at 185 sats. From here XVG looks poised for a sudden burst upwards and reaching the 300 sat mark or higher. We would recommend looking to buy XVG anywhere between 180-195 sats and setting automated sell orders at 220 sats, 270 sats, and 330 sats to take profits off the table all the way up.
The next few weeks are critical for the survival of this current bullish trend, but all signs are pointing to it holding. BTC, STRAT, and XVG are all poised for a nice ride upwards – make sure you’re on the party train!