Keeping my previous analysis, I still expect the bitcoin price to rise. Although this rise may be very modest. The target price is 11,000 usd. The analysis is based on a fractal strategy. My analysis is based on the fact that a second fractal of half size may develop in the exchange rate. I don't expect instantaneous movement in either direction.
Look to me that there is attempt at this area for the consolidation to end?
If markets could talk this one would be saying.
"Which way now?"
I agree we may see it move back to the upside here but should also be aware there is a mighty "dropzone" below.
meszaros
⋅
@Delta_Traders, Thanks for the comment. I agree with you. My analysis would like to point out that bitcoin has stopped rising in a few weeks. Technically, I'm not expecting a higher ascent to the north. (1 month ago, it was me who predicted a higher ascent.) The probability of this is now gone. For the time being, I see no greater fall. I'd rather wait for a triangular motion. With smaller rising sections.
Delta_Traders
⋅
@meszaros, I think world political aspects, financial stimulus and some other factors are coming into play may cause some movement.
Not only in the crypto space but traditional markets are about to have a bad time by the looks of it.
meszaros
⋅
@Delta_Traders, Yes. We see the same question. The biggest competition for cryptocurrencies might be gold and other commodities. Platinum, palladium, silver, copper ... etc. For the time being, precious metals perform better. But now anything can happen.
skl44
⋅
i really like your analysis brother and agree also
meszaros
⋅
@Shakeel67, I'm happy to read. Thank you very much. :)
If markets could talk this one would be saying.
"Which way now?"
I agree we may see it move back to the upside here but should also be aware there is a mighty "dropzone" below.