After all the hype at the beginning of this year, price has kept going lower. A very bearish descending triangle is still forming and together with the rejection of BTC ETF (which will not happen any time soon) this could crash hard!
Be aware! Trade carefully and don't risk anything you're not willing to lose! GL all
Thank you for your chart. Much appreciated. Here is my idea.
bogdan.pluta.12
⋅
I see that the price is in accumulation, we will soon be growing
liam4
⋅
it can also break on the upside as this can play as a wedge
LijiLe
⋅
@liam4, its more likely to break down though. No big fundamental changes in crypto until 2020
liam4
⋅
@LijiLe, as seen previously with breakouts btc does not need fundamental changes
LijiLe
⋅
@liam4, you need to pay attention to the market cycle...
liam4
⋅
@LijiLe, the market cycle of the bear market is set to end.
LijiLe
⋅
@liam4, its probably not end. No big fundamental changes can drive up the valuation of the crypto. It's purely a gambling and speculations so far. Until big fundamental changes, we can see another big bull run. The last bull run is catalyzed by eth and ico.
LijiLe
⋅
@liam4, ETH big fundamental changes will happen in 2020, btc halving happens around that time. We still have more than 70% of eth from ico teams waiting to dump...... No fundamental reasons can drive the valuation up
liam4
⋅
@LijiLe, i am not saying this is definitely the end of the bear market i am saying that from different TA it shows that the market cycle looks like its close to ending.