Could Bitcoin go to the hell? Yes. We 'll visit the 750$
Bad news to Bitcoin. The price could plunges extremely, breaking the last year bottom. The main point is the analysis of the parabolic rides:
The first 6 months of the year we saw a parabolic bull run started on January and ended on June. During that ride, a bear pressure tried to put the price down, generating a spike (the first red arrow) the 15th May (6,400$). Bears couldn't win the battle and the price went up a 92%.
After the rejection in the 14,000$, we started a correction that continues right now. Te correction has generated a new parabolic run (bear run) and, oddly enough, we have seen a spike again (the second red arrow) the 24th October (10,600$). Bulls have not controlled the situation, and the price goes down breaking all supports. If we expect the same parabolic-behaviour, the price can go back to the 750$!!
The first 6 months of the year we saw a parabolic bull run started on January and ended on June. During that ride, a bear pressure tried to put the price down, generating a spike (the first red arrow) the 15th May (6,400$). Bears couldn't win the battle and the price went up a 92%.
After the rejection in the 14,000$, we started a correction that continues right now. Te correction has generated a new parabolic run (bear run) and, oddly enough, we have seen a spike again (the second red arrow) the 24th October (10,600$). Bulls have not controlled the situation, and the price goes down breaking all supports. If we expect the same parabolic-behaviour, the price can go back to the 750$!!
Comment:
The correction*