Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Yesterday i already smelled something fishy. There was a pretty hard decline of a (down) trend-line that started in march of this year. In combination with the low volume it didn't look good for BTC.
It is possible that we bounce from here, BUT we need buying volume and get the hell out of this triangle. We need to pass 6500 and hopefully that will become our new support.
When we stay below 6500 the next couple of days that we will drop to 5800, which is also a psychological border for a lot of people.
For now it think we will go down to 5800 and have a strong bounce from there.
In principle, you could be right, but I think that you are a bit too hasty. In the phase we are in now, everything is stretched out, and the Bitcoin will reach the $ 5.8k mark by January 2019. That's what I think.
Schoppenhagen
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@ReallyMe, thanks for sharing your thoughts. The reason i think the next dump will be in a 2/3 weeks is that we are declining the downtrend started in March over and over. Hopefully we are down enough by then to get a nice bounce. But as you said: We will see ;)
ReallyMe
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@Schoppenhagen, for me the question is not when the next dump will likely come but when will we have reached the real bottom. I don't expect it to happen before spring 2019. Read my last idea if you want to know more details. So long...