Bitcoin at the crossroad
Bitcoin is at the crossroad. It is swinging around 14642 while the Stochastic indicator suggests that the long-term uptrend is still intact. As long as the Stochastic indicator is above the blue dotted trend line, we can assume a bullish scenario for BTCUSD. However, once that blue dotted trendline will be broken to the downside, a very bearish scenario will take over with a target of 5568 USD per Bitcoin. We know that the governments of the United States of America and of Bulgaria confiscated Bitcoins worth more than 3 billion US-Dollars. They probably want to sell them all. coindesk.com/bulgarian-government-sitting-3-billion-bitcoin/ The price of the Bitcoin will mainly depend on how they flood the market with their confiscated Bitcoins during the next few months. I expect a high volatility and many good opportunities for buying cheap Bitcoins.
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