I haven’t been posting for a few days, but if you are reading any of my posts for the first time, I’d like to let you know that I have set a Bitcoin prediction challenge, and how is it going so far? Let’s find out!
And for those of you who have been following, to refresh all your memories: I have started a post saying I will predict Bitcoin price every hour. Then I figured my prediction worked on 2h timeframe, so I moved up, but from there I have made a bold prediction for the rest of February (that I actually posted as a response to one of the comments) shout out to Saxigenus for commenting on my post that day!
I will add links to pervious posts, but let’s move on to predictions and results!
1. FIRST PREDICTION, 1H TIMEFRAME 23RD OF JANUARY
My prediction was:
At 1pm on Monday 23rd of January Bitcoin will close below $22,800
The result:
Bitcoin hit exactly my price target but 1h later on 2h timeframe!
2. THE 2H TIMEFRAME PREDICTION ON 24th of JANUARY
My prediction was:
At 2pm Bitcoin will close above $23,000
The result:
Bitcoin closed at $22,860 (but it did go above $23,000 within that timeframe so from there I decided to predict price targets instead of close targets and due to price divergences between exchanges I decided to use Kukoin at the point of reference)
3. THE 2H TIMEFRAME SECOND PREDICTION ON 24TH OF JANUARY
My prediction was:
By 4pm Bitcoin will reach the price below $22,600
The result:
And here I got completely diverged and stopped doing it due to - I am not really sure, just didn’t stay consistent, had other things to do noticed a pattern on a daily and wrote an article abut the possibility of Bitcoin trade setup. Anyway after checking the BTC history the price did reach…$22,785 between 2-4pm and that prediction didn’t come even close to my price target if we look at opening price of $22,929.8 it only came down about 45% to my target.
4. 26-29 JANUARY START OF LONG TERM PREDICTIONS, BTC PUMP TO $25,000
My prediction was:
After I got diverged, I begun to predict Bitcoin going to $25,000 with continuation pattern and then dump around that area, however, after a few days of this not happening I said there is higher probability to dump because people have lost their patience and next week commencing 30th of January Bitcoin will definitely dump and the dump price target was $21,000 area.
The result:
Well, after my prediction on 29th saying that people have lost their patience few hours later Bitcoin pumped to $23,800 and on Tuesday it did dump
5. 1ST OF FEBRUARY, BITCOIN PUMP AND PRICE ACTION PREDICTION FOR THE ENTIRE MONTH
My prediction was:
Originally I said: My prediction is pump and break $25k possible build up of another support in $25k area then pump to $28k and dump real hard there!
But then there was this comment by “Saxigenus”where he said: “I think February will be cold = HODL, but I see March as a big pump”
So I replied: But it takes time to get there: by 6th of Feb $25k consolidation until 14th-15th pump to $28k until the 20th and dump with consolidation until March. March could be the break above $28k for massive bull run.
The Result:
At the time of writing we can say This didn’t quite follow my prediction. Bitcoin did come close to $25k but I am not sure if drop to $22k we can call consolidation, we could still call it good prediction if BTC pumps to $28k area until the 20th after the 15th
Thoughts? Writing this article made me realize how hard it is to stay consistent those days. I was suppose to predict hourly candles then settle and continue on 2h, but it went out the window very quickly! I turned to predict the whole month. I’d say it is really hard to predict but with various take profit and stop loss adjustments at certain times, all trades would turn out to be profitable or brake even.
Links to related articles:
https://www.publish0x.com/cryptodilema/bitcoin-the-next-hour-xlqvkxj
https://www.publish0x.com/cryptodilema/bitcoin-trading-liquidations-candle-xjrvpdw
https://www.publish0x.com/cryptodilema/bitcoin-my-predictions-so-far-xnnzdyr
https://www.publish0x.com/cryptodilema/bitcoin-continuation-pump-xrgevke
https://www.publish0x.com/cryptodilema/bitcoin-red-alert-xwyoggx
https://www.publish0x.com/cryptodilema/from-sunday-pump-to-monday-dump-bitcoin-turns-orange-xzgeydj
https://www.publish0x.com/cryptodilema/bitcoin-pump-alert-xrgjyjl
