Predictions
- I think BTC is going to a low of 25000 and that is the lowest point we will see this bull run
- This is mostly due to one long term upwards fibonacci retracement which you can see a little bit on the left side. This is showing 27 000 USD on the 0.3832 which is a little bit bearish, but we'll be alright in a few months so you can trade in the meantime to collect some coins
- Considering the importance of psychological price points I believe the low will be 24 000 - 25 0000 before going back up and then going sideways for a month or two at the 27-34 000 level
- Considering that BTC broke it's insanely bullish trend at an ATH at around 66 000 and then showing a major trend switch going downward which has been continuing I thinks it's safe to say that we're going lower. We will know when we have hit the bottom because we will see a major dip and then sidways price action for a month or two.
Graph explanations
- The lowest upward angled blue line is based on the lower end trend lines set where BTC would show strong resistance when either going up or down. We broke this line for a short moment today, but price is generally not going back up so this is a bearish sign
- The rest of the blue lines are set on other same type of trend lines just higher up
- Fibonacci retracement on the left is based on the lowest point BTC was at about one year ago before starting bull run and the ATH
- Fibonacci retracement on the right you can see was marked on the 0 at the ATH and 1 was placed at the previous low of the last two months
Hope you guys liked my technical analysis. I would love for you to share with me what you think is going to happen, and why.
- I think BTC is going to a low of 25000 and that is the lowest point we will see this bull run
- This is mostly due to one long term upwards fibonacci retracement which you can see a little bit on the left side. This is showing 27 000 USD on the 0.3832 which is a little bit bearish, but we'll be alright in a few months so you can trade in the meantime to collect some coins
- Considering the importance of psychological price points I believe the low will be 24 000 - 25 0000 before going back up and then going sideways for a month or two at the 27-34 000 level
- Considering that BTC broke it's insanely bullish trend at an ATH at around 66 000 and then showing a major trend switch going downward which has been continuing I thinks it's safe to say that we're going lower. We will know when we have hit the bottom because we will see a major dip and then sidways price action for a month or two.
Graph explanations
- The lowest upward angled blue line is based on the lower end trend lines set where BTC would show strong resistance when either going up or down. We broke this line for a short moment today, but price is generally not going back up so this is a bearish sign
- The rest of the blue lines are set on other same type of trend lines just higher up
- Fibonacci retracement on the left is based on the lowest point BTC was at about one year ago before starting bull run and the ATH
- Fibonacci retracement on the right you can see was marked on the 0 at the ATH and 1 was placed at the previous low of the last two months
Hope you guys liked my technical analysis. I would love for you to share with me what you think is going to happen, and why.