What will Bitcoin do next?
Updated
Bitcoin had rallied from $4,000 to $10,000 since Jan 2019.
Currently, it's price is hovering $9000 and looks like we are having a descending channel.
The question is this...
Will the price breakout beyond $10,000 or below $9,000.
Honestly, nobody knows. Chances are IMHO is to the downside considering we never had a single price pullback since the rally.
In this scenario, current price is a great place to enter market if you could stomach the losses. Which by the way, could potentially net a good profit all the way to $17,000
But, if bitcoin price ever reaches and closes below the 'blue support line'. DO NOT BUY! Expect price to hit $6,000 to $7,000 range before we could see any real buyers coming in.
The choice is yours. Remember to manage your risk well; Always and only invest money you could afford losing.
Cheers! Have a nice day :)
Currently, it's price is hovering $9000 and looks like we are having a descending channel.
The question is this...
Will the price breakout beyond $10,000 or below $9,000.
Honestly, nobody knows. Chances are IMHO is to the downside considering we never had a single price pullback since the rally.
In this scenario, current price is a great place to enter market if you could stomach the losses. Which by the way, could potentially net a good profit all the way to $17,000
But, if bitcoin price ever reaches and closes below the 'blue support line'. DO NOT BUY! Expect price to hit $6,000 to $7,000 range before we could see any real buyers coming in.
The choice is yours. Remember to manage your risk well; Always and only invest money you could afford losing.
Cheers! Have a nice day :)
Note
Price went down as I had speculated.Expecting price to drop further to at least $6,000 to $7,000 before seeing any relief or buyers coming in.
Till then... we shall see :)
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