ChartyMcCharterson

Bitcoin - Potential Bear Mkt Roadmap

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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Failure to hold 5 digit BTC prices paints a decidedly bearish picture for the crypto market in 2018. After a ~28-month bull cycle it's not implausible to expect a more extended bear market. While I don't expect a repeat of the 2014/15 bear market, 12-14 months of downside/consolidation would not come as a surprise. It's worth noting that the 100D MA has provided support since 2015 and is now acting as resistance (a first since 2014). For comparison, the 2014/15 bear market saw a ~90% drawdown for Bitcoin . A similar cycle would land prices circa $2k.

Good luck, stay safe, and remember that opportunities abound in both directions.

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