** In this article, I would like to share what I think of the bitcoin chart personally, but please kindly be advised that these are solely my opinions and thoughts hence make your own decisions when it comes to investing in bitcoin **

Bitcoin is a monster making moves every single day!

Looking at the current hourly chart for the day, bitcoin is showing ascending, broadening wedges. Historically speaking, when these wedges were formed, it showed a downward move 52% of the time. This technically translates to the fact that there is a 50/50 chance that bitcoin would go towards the next target price $31500 or move down towards $20700 for consolidation/adjustment relatively soon. Another thing to acknowledge is that bitcoin is about to complete forming a head and shoulder pattern (currently in the process of forming the right shoulder after hitting the resistance again at around $29000). Once again, this confirms that the bitcoin could really move significantly in either direction.

Personally, I would love to see bitcoin hitting $30,000 today before the new year arrives; however, I am a long investor in bitcoin and plan to hold what I own at least for the next 5 to 10 years. Therefore, I do not care much about the short-term price. 

If I had money to invest more in bitcoin, my plan would be buying the majority at the price range of $20,000 and $22,000 which is quite unlikely to happen at this point. My upper light loading zone would be in the range of $24,000 and $25,500.

What do you guys think?