The BItcoin Price Breakdown
Bitcoin doesn't look really healthy right now but I still expect in the next quarter it can have an upwards trend towards 5k. The trend loss is currently at a steep negative correlation. We also know the ADR is at a negative retracement as well. Also some financial analyst at Forbes are doing soft bids against BTC, saying an immenent $2500 BTC price, while some institutional investors even predict a dip lower than 10% of its "peek point". It had a negative of 1.63% for the past hour range and an expected closing today near -1.77%. Also the Aroon indicators have a negative retracement past 35.7143 with an expected step loss. The CMF for money flow is at -0.4294. However, there is a potential positive bullish trend and divergence, and even with the steep negative correlations, you are seeing a higher trend towards market dominance. Though let us not get too optimistic. Trace Mayer expected a $27,395 price by Feb 2017 according to bitcoinprice (we all know how that turned out). However, we still know I am HODL'ing, and I even think the Winklevoss Twins' prediction of a $5 trillion dollar market cap between 2028 to 2038 is still realistic. Though I have a seemingly long hold position, I will continue my HODL journey but don't know how long it will last. All opinions regarding this are entirely on a personal opinionated level with some market research involved.
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