Bitcoin is at a crossroad, Make or Break Zone.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
  • Bitcoin has been trading in the 'chop zone' (where the big hands have been pushing the price up and down through liquidation pools of all the smaller hands). Is this the whales squeezing every last penny out of crypto before they exit?
  • Should #Bitcoin drop lower than the lowest low since the highest high I believe we could see bitcoin drop to the $3,000. Go look at the #NASDAQ from 1999 - 2005 (Chart below). Do I think its likely? No - Do I think its possible? Yes
  • Theres still hope that BTC is still on a bullish trend! If we break our current trend line in the next couple days we call look at another slightly less bullish trend line around the low $7000's. Problem is after this I don't see holding bitcoin up and then would see a strong case for a comparison to the .com bubble illustrated in the chart below.

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