Bitcoin - Likely one more impulse up before the big drop

in #trading • 7 years ago

There is a possibility that we can get one more impulse to the upside before we'll see the big move to the downside. Don't get me wrong though, this is not the end of Bitcoin but we will see further downside because people are taking profit and we need to get new buyers. Remember that Bitcoin is not like real currencies, it's not backed up with anything except the Bitcoin investors money.

Remember my last post about Bitcoin? I predicted the price to about 3000 USD/BTC before the retracement to collect more buyers. Go check out that post, or you can find the picture below this picture..

This is the picture from the other post.

Kind Regards,
Crank420

#bitcoin #life #cryptocurrencies
7 years ago in #trading by
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     7 years ago 

    But how can you be so sure it will drop?

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     7 years ago 

    You can never be sure, or else everyone would be predicting the future of different markets and everyone would be billionaires. This is just my analysis on Bitcoin and you're free to do what you want with that information.

    The 3000 USD level was predicted by analysing the market behaviour of the last big impulses or spikes that occurred in the Bitcoin historical price, and this is also how I predict the pullback that most likely will happen before the next spike to the upside. Well, this and of course some basic understanding how cryptocurrencies works, It's not like regular currencies.

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     7 years ago 
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     7 years ago 

    Well, I can't really agree or disagree since I don't have any knowledge about the cryptocurrencies you're talking about in that post. I'm a Forex trader and the only crypto-analysis I do is BTC, ETH, DASH, XMR.

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     7 years ago 

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