Hello tradingview. This idea contradicts my previous idea. But this monthly chart seems to suggest that bitcoin is at the end of an era. The candle has alot volume and it has a big wick on top. Its an exhaustion candle. So probably gonna see a downturn in q1 2018. But all of 2018 could be bearish, the year might close lower than the open. Best of luck traders!
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Things are getting a little bit awkward here because Bitcoin is not going down. Its currently sitting at 17k which is very awkward.
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Things are looking much better now. Price is having trouble staying above 14K and the monthly candle is literally flickering between red and green. I personally dont see how the bullishness can continue. This truly is the end of an era.
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Its currently trading at $9,815 which is a $5,000 drop since last update. Its crazy. I am still suspicious that its not done dropping yet. Worst case it can go to $7,5k but lets see.
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It happened. BTC is $8,800 at the time of writing. And the panic havent even sit in yet. The worst thing is. I mean. Who knows where the bottom is.
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Price is $7,600 at the time of writing. Surely the bottom has to be close?
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Might have seen the bottom for now. $6,600 on Bitstamp. Heres my new idea
Nice anlaysis, I have a different opinion on BTC it does not always do what the TA indicates. Thier is too much emotion and setiment caught up with this coin and that does dictate some of its values. My analysis shows this dropping to 8k usd as it is currently in a bearish channel. Once thier it will break out and test the new resistance line. I am predicting that we will by January 16 be back up to the 14-16k range or greater.
Just an alternatve outcome based off a simple 3 way moving average and repeated patterns.
Happy New Year :)
neofutur
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mostly true, and #BCH is the new bitcoin, the real bitcoin for real people. more on my dec 17 idea : ( please read all the updates at the end )
terrahigh
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@neofutur, please stop spamming this literal CRAP to everywhere. guys please FLAG this useless spammer.
neofutur
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user : terrahigh
Joined 6 hours ago
great :p
mycotoxin
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I beg to differ , ts a reversal candle and BTC once out of that bear flag will be hitting Close to 30k at some point in Jan.
Just an alternatve outcome based off a simple 3 way moving average and repeated patterns.
Happy New Year :)