HudaK
Short

BTC $2000. Mission Impossible?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD             , BITSTAMP , 1W, Log chart

1) Price loss
Nov. 2013 ~ Dec. 2014
ATH             to ATL             : 86.90% loss

Dec. 2017 ~ Apr             . 2018
ATH             to 2972 : 84.23% loss
ATH             to 2291 : 88.50% loss

2) RSI
Green support line is broken.
Expecting further downward movement.

3) MACD (less important index)
Diverging is in progress.
Expecting further downward movement.

4) Trend line
Purple line
Very close from current price.
Taken together, high possibility to be get through.

Blue line(lower)
the lower limit is 7K
We can expect some supports, but according to RSI and MACD , the remarkable reversal(to up trend) is less likely.

Red line
Support line of recent up trend.
We can expect remarkable reversal at this line.

Yellow line
Traditional up trend line .
Very important support line I think.
The bottom would be placed on this line most likely.
Very good analysis. Thanks
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Operation Dragon Slayer. Miners will switch to the most profitable Crypto quicker than you can blink.
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HudaK VinceLaselle
@VinceLaselle, You mean BTC will be replaced by BCH?
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Nothing is impossible, but I think it's highly unlikely. I think we'll hit the support at $6,500-6,800 (GDAX, not sure of equivalent on Bitstamp) and bottom out there. If we keep going we've still probably got strong support around $5K as well. Now if we break that region, then $2K becomes much more likely.
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HudaK Box1515
@Box1515, I think so too. Thanks for your comment
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