Bitcoin is in a state of doubt and uncertainty after trading negatively consistently for 6 straight months for the first time in its history.
This question comes up next:
Is Bitcoin's preparing for an ultra moon pump or a final crash ahead?
When you look at Bitcoin, it seems that it has reached a standstill point; Bitcoin Sideways.
People are not used to Bitcoin Sideways. We are even less used to seeing Bitcoin go negative 6 months straight.
But when you look at the Monthly chart, you can clearly see that a bottom is on its way. But will this bottom be a new low, or will price curve and start its move up?
February 2018 was the year when Bitcoin hit a low point. It took 8 more months for the Feb. low to be gone.
So there is a good chance that this year February marks the end of it all. Or it might be the beginning of much more when it comes to cryptocurrency and Bitcoin overall.
1) Looking at the chart, it is easy to see the possibility of a strong drop coming our way, the final crash before Bitcoin can wake up and change to a new trend.
But this is something that everybody has been expecting for many, many days. And Bitcoin is a contrarian, it does what nobody can expect.
2) The next scenario is the blue sideways action that has been plenty in the past few days... This is what most people here on Trading View want their way. Based on 2014/15 charts, they say Bitcoin will keep on going sideways again and again.
3) Or finally GREEN, which nobody no longer believes. This is based on a potentially strong bounce, followed by a classic retrace and then POOF... massive GREEN.
There are many signals that we can look up to in the charts and come up with entertaining stories and ideas as to what might go on... But if something we've learned over the years, is that signals coming from the charts can be really accurate as they can be as fake as they come.
So let's make it simple this time and go with our guts!
What you think will happen next?
Will Bitcoin continue going down forever (red), go sideways (blue) or jump up (green)?
Please share your thoughts in the comments section below with my readers and me.
On my next update, I will look at Bitcoin LONG TERM from the outside without bias and reading the signals coming from the charts... I believe that in a matter of weeks, we will have an answer as to how the rest of 2019 for Bitcoin will go.
Personally, I believe will be positive by the end of 2019.
And cryptocurrency prices will reach levels that normal people cannot believe. But this won't happen right away, it can take some time to materialize... But in the year 2019/2020, this is something that can be realized.
In the meantime, I will watch from the sidelines.
Namaste. P.S. Let me share with you this phrase, that can inspire your morning day.
SUCCESS, PRAYER AND MEDITATION
When you want to achieve success people talk of concentration.
Another great word vastly used is determination.
Yes, success can be acquired with both, concentration and determination.
But your best tool is always prayer and meditation.
Namaste.
Comment
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I believe we're far more bullish than people realize.
I think the bullish divergence that was built post-fall is a lot lot lot stronger than people believe - in my opinion it hasn't even fully played out yet.
That drop was the most severe daily drop in HISTORY for Bitcoin.
Now we have almost nothing but bearish posts on TV, just like back in April of 2018.
I called that reversal, and I'm here to put my nuts on the line to say the SAME THING.
BUY FEAR. SELL GREED.
End of story.
Love you Alan. Namaste.
AlanSantana
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@mc_peewee, Thanks a lot for the support.
Bitcoin showed some good strength while holding the $3400 support level.
Brentnelson
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Bitcoin I believe will try retest 4000 level but will not stay long there before heading down for lower lows. If it does not go up from here we will restest 3100 then possibly up. However I am still bearish
I think all of the above will happen, however once the upgrades roll out, BTC will be launching into the great beyond never to return to these prices. EYO-2020 will be the return of BTC. IMVHO
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I believe we're far more bullish than people realize.
I think the bullish divergence that was built post-fall is a lot lot lot stronger than people believe - in my opinion it hasn't even fully played out yet.
That drop was the most severe daily drop in HISTORY for Bitcoin.
Now we have almost nothing but bearish posts on TV, just like back in April of 2018.
I called that reversal, and I'm here to put my nuts on the line to say the SAME THING.
BUY FEAR. SELL GREED.
End of story.
Love you Alan. Namaste.