Well I estimate BTC will be between 6,000 to 8000 (worst case) 8,000 to 11,000 (best case) by May of this year. Looks like it was in a downward trend and shook out most of the weak hands and now is in a consolidation trend. If this continues and the longer it does it will place a nice solid bottom for resistance lower.
Seems to want to stay below the 100 day Moving average but has attempted to rise above the 10 and 50 day.
Failed at forming an Uptrend with a second Higher low so I suppose the consolidation is in effect.
Provided the money coming in is not restricted by new Government regulations. Market cap for bitcoin has regained and maintained. I guess everyone still needs BTC as the King and no one wants to kill the Golden goose , At least not yet.
Just by looking at the trend lines you can see
Seems to want to stay below the 100 day Moving average but has attempted to rise above the 10 and 50 day.
Failed at forming an Uptrend with a second Higher low so I suppose the consolidation is in effect.
Provided the money coming in is not restricted by new Government regulations. Market cap for bitcoin has regained and maintained. I guess everyone still needs BTC as the King and no one wants to kill the Golden goose , At least not yet.
Just by looking at the trend lines you can see
Comment:
The next few days we will find out if bitcoin will continue the downtrend or start a consolidation. The Yellow trend line is a very old one, from Sept of 2015 and in my opinion the true progression. However if it does dip below that it could go lower but I suspect it will be very difficult as there are a great deal of die hard investors that have a strong fundamentals.
Comment:
between 6,000 to 8000 (worst case) 8,000 to 11,000 (best case) by May of this year.
Still on track
Still on track
Comment:
"Remember Remember the 10th of December"
The CME and Wall street banks/ Gov will for the next 5 to 6 years will Manipulate the BTC price to mimic what they have done to Silver a decade ago and Gold over 80 years ago. Remember it's a National security response where competing currencies need to be controlled to bring stability to the Reserve currency.
BTC in 2020 will be halving so there might be some upward pressure.
I may not be able to explain this eloquently but I watch trends and remember history and it is this that I base my opinions. The market of CC need to be tamed and the methods in doing this has been the same for over 100 years. Technical analysis does work but only in a free market and I guess what I am saying is that there is no free market as long as you control the Media, banks Gov interests and Corporations. Good luck
The CME and Wall street banks/ Gov will for the next 5 to 6 years will Manipulate the BTC price to mimic what they have done to Silver a decade ago and Gold over 80 years ago. Remember it's a National security response where competing currencies need to be controlled to bring stability to the Reserve currency.
BTC in 2020 will be halving so there might be some upward pressure.
I may not be able to explain this eloquently but I watch trends and remember history and it is this that I base my opinions. The market of CC need to be tamed and the methods in doing this has been the same for over 100 years. Technical analysis does work but only in a free market and I guess what I am saying is that there is no free market as long as you control the Media, banks Gov interests and Corporations. Good luck