We are falling out of falling wedge i called 2 weeks ago, we are no in a free fall to 7500 where i expect a low support zone, then i think we will mabye touch 7200 where i expect a strong support zone.
RSI: 2 Hours looking good, its nerly in the botton RSI: 1 day have little more down to go before it will return.
Macd: 2Hours: Want to go more down, showing pressure for bears. Macd: 1day: looks like it just waiting for its run at anypoint..
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I think it will bounce at $7200 also, but I worry that this is something much more. People are always comparing with 2013 where BTC dropped 90% and then 2014 where BTC dropped 90% and say that to justify BTC dropping to $2500. My optimism says that surely the market has no memory and that conditions are far more favorable now than in 2013 and 2014 where almost nobody really cared about crypto. But at the same time I am cautious that it's a possibility.
What are your thoughts? Is $2500 a possibility? If not, why not? Thanks!!!!
PorsTrade
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@alexyeoh, I think 2500 is a little too optimistic considering how the market has evolved over the past months, it's no secret that we've been in a blood bath in the last months. We all know that there are still more fud news that will affect the market for the next year.
But still, I do not see 2500 completely come, I think we will have strong support around the 3000's, I see more for me somewhere around 3800 to 4000 as first, but we have to see again and wait when it's impossible to say anything whatsoever today. :)
What are your thoughts? Is $2500 a possibility? If not, why not? Thanks!!!!