As you see in the chart we have 2 scenario
1. Bearish Chanel ( 30%) , if we going down from 6k this Chanel would be valid but with this situation of the cryptocurrency market approximately we have 30% chance to go down.
2. Bullish (70%), strong support line
Look at the trading range is becoming more and more narrow which points to an upcoming breakout. The breakout can always happen in any direction, regardless of the pattern or formation, either up, down or continue sideways but our chart signals and indicators are telling me that we are going up long term
We also know the fact that Bitcoin's price always tend to find support where it is still profitable for miners to continue mining. So Bitcoin needs to hold a certain price (above $6,000 for now) for mining to remain profitable. Each time we reach this point, talks of the end of Bitcoin 0.63% arise and a change of trend as well.
The next step:
1. Bitcoin jump to $6800.
2. Bitcoin jump to $7200.
2. Bitcoin jump to $8500.
still to reach to this targets be have some strong resistance
and i think we wont cross 10k until 2019
NOT FINANCIAL ADVISE
Don't forget to LIKE if you LIKE the post. Thank you
1. Bearish Chanel ( 30%) , if we going down from 6k this Chanel would be valid but with this situation of the cryptocurrency market approximately we have 30% chance to go down.
2. Bullish (70%), strong support line
Look at the trading range is becoming more and more narrow which points to an upcoming breakout. The breakout can always happen in any direction, regardless of the pattern or formation, either up, down or continue sideways but our chart signals and indicators are telling me that we are going up long term
We also know the fact that Bitcoin's price always tend to find support where it is still profitable for miners to continue mining. So Bitcoin needs to hold a certain price (above $6,000 for now) for mining to remain profitable. Each time we reach this point, talks of the end of Bitcoin 0.63% arise and a change of trend as well.
The next step:
1. Bitcoin jump to $6800.
2. Bitcoin jump to $7200.
2. Bitcoin jump to $8500.
still to reach to this targets be have some strong resistance
and i think we wont cross 10k until 2019
NOT FINANCIAL ADVISE
Don't forget to LIKE if you LIKE the post. Thank you
Note
we expect more normal and more establish BTCbut in the bigger picture we see patients is the key for gainers
Note
we are still in trianglebut we have some changes on global market as fundamental news, that cause the market going to close to the bear market
BTC have 2 other support line at 6100 and 5800
if it break those , it probably go to somewhere between 4k and 5k for more than 6 month
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.