Bitcoin: BTC/USD (BTC=X) Shayne Heffernan Insane Target

By November 11, 2020Bitcoin Business
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Bitcoin: BTC/USD (BTC=X) Shayne Heffernan Insane Target

$BTC #Bitcoin #Crypto #Cryptocurrencies #FX #Trading #Markets

Ticker: BTC=
Price: $15636.74

Bitcoin Outlook

Shayne Heffernan, CEO and Founder of Heffx and Knightsbridge Live, said with Bitcoin’s recent ascent, there are now only one resistance left for it to break — the old all-time high of around $20,000.

The $14,000 level was the weekly resistance Bitcoin tried but failed to break last year. It was also the actual monthly close of Bitcoin in 2017; $20,000 was the level that Bitcoin tried to break in 2017. It peaked at around $19,700 at the time.

The weekly and monthly charts now suggest there is further room for Bitcoin to increase and will see a top of $145,000 to $150,000 between September and November 2021.

Trade with Confidence with Knightsbridge Live

The relative strength indicator (RSI) was already at 80 when Bitcoin tried to break $14,000 last year. An RSI of 80 suggests extreme overbought levels. At the time of this writing, Bitcoin is at $15,600.

In the monthly chart, when Bitcoin closed at $14,000 in 2017, the RSI was at 97, suggesting extreme overbought levels.

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 12,973.32.

The projected upper bound is: 16,733.66.

The projected lower bound is: 14,756.13.

The projected closing price is: 15,744.90.


A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 31 white candles and 19 black candles for a net of 12 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 75.2050. This is not an overbought or oversold reading. The last signal was a sell 5 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 70.47. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 5 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 81. This is not a topping or bottoming area. The last signal was a sell 2 period(s) ago.


The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 36 period(s) ago.

Rex Takasugi – TD Profile

FOREX BTC= closed down -195.311 at 15,636.560. Volume was 70% below average (consolidating) and Bollinger Bands were 107% wider than normal.

Open        High        Low         Close      Volume
15,829.750  15,907.990  15,465.000  15,636.560 179,142
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period     200-period
Close:           15,120.37     12,429.95     10,638.55
Volatility:      65            47            55
Volume:          826,039       486,446       571,019

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.


FOREX BTC= is currently 47.0% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods.

Our volume indicators reflect volume flowing into and out of BTC= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on BTC= and have had this outlook for the last 46 periods. Our momentum oscillator is currently indicating that BTC= is currently in an overbought condition.

Ticker: BTC=
Price: $15636.74 Bitcoin Outlook Shayne Heffernan, CEO and Founder of Heffx and Knightsbridge Live , […]

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