I have been studying bitcoin patterns since the inception. You can too, just make sure that you look at zoomed in version and evaluate the sections of ups and downs instead of looking at techniques like simple moving averages etc.
Based on my analysis, and this is also the sentiment of Bitcoin Gurus like Bix Weir, I think 2200-2400 is the range the Bitcoin will make a top and just like previous 19 times or so, it will come down hard. I am expecting that it will come down to 600 level and hover there for a while before starting the next climb which can very well be around 4000-5000 range.
Disclaimer: I am not a financial advisor and am not qualified to do so. Please do your own due diligence.
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coming down by 600 or falling down like a cutting knife to 600?
to 600
Thanks for the warning c:
There would need to be faster transaction confirmations and a huge amount of trade for it to get down to $600 anytime soon. I think it'll hit a wall for a while due to the traffic jam it has at the moment.
large transactions are getting executed in 90 seconds currently.
I don't think it'll ever go down again to the $600 levels. It's a wishful thinking.
i don't wish it to go down but patterns are what they are. let's hope i am wrong.
600?! That's low! With all these media attention and regulations I think the support level would be 1000-1200 at least! But we are still waiting for the SEC to deny the Winklevoss BTC ETF proposal...
Hi,
nice blog :)
I agree that there will come a correction but down to 600 is to hard imo. Maybe around 1400 and I don't see a problem cause if this will happen it also will rise higher than ever afterwards like you also mentioned so everything is easy except the points you mentioned in your other post about the interest of the governments to control the blockchain.