MoonTrader
Short

Bitcoin forecast next few months

BITFINEX:BTCUSD   Bitcoin / Dollar
It doesn't look good for the bulls. We're still in a consolidation period, but once we break the blue line, it's a good sign of more downside, and I would be looking to pick up a short. From the looks of things, we may reach the consolidation low before the last bubble, and after that, who knows.

In any case, as long as this bear trend holds, there's no basis for bullish speculation. This consolidation appears to have taken the form of a descending triangle and bears resemblance to other breakdown patterns that yielded a lot of downside. Based purely on zones of strong support, these are the anticipated targets for bitcoin for the foreseeable future.
ditz PRO
2 years ago
Agreed, never seen the Bitfinex order book look so bearish - same volume to fall below 200 as to climb to 260
Reply
Mathijs
2 years ago
Also my next target! Great chart!
Reply
Tdot
2 years ago
That didn't take long, we already broke down. Shortville here we come!
Reply
MoonTrader Tdot
2 years ago
Careful. Huobi still hasn't broken its lows and we're oversold. We may get that bump first after all. There's a lot of support here.
+2 Reply
blackswan MoonTrader
2 years ago
i was thinking to take some short term position by going long but find this drop looked like marketing probing and we might see some more surprises so i'll probably stay on sidelines for now...
+1 Reply
blackswan blackswan
2 years ago
should've said "probing the market" not marketing probing...
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out