Are We Heading Up From Here?
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If you read my previous Bitcoin update you would see a pretty bearish analysis. That is still my primary count and everything is going as the previous analysis is stating. The good thing is that we've just broken a descending bearish channel and we managed to to that with some volume. It's important that we don't fall into the channel again. I do think it's possible that we hit it again but it will probably act as support next time and that will be a catalyst for new impulses as I'm showing in this screenshot.
I think we're going sideways for a little while now before a new impulse and 3rd subwave. I lowered my mid term target a notch to $15856. Will give you updates on the way.
Follow me on Twitter and turn on notifications to get instant updates at http://www.twitter.com/benkalashnikov
Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.
To the moon.
Interesting article! Checkout @cryptobroye for more bitcoin info and analysis. Im sure there's a lot we can learn from each other!
upvote and resteemit done dear......
keep it on...
hopefully bitcoin ride high I have long wait
I think there's a better chance bitcoin could hit $20,000 in a month or two
hmmm yeah the general consensus is we have moved from a bearish trend to a more bullish ... the next few days are crucial though, i think we need to breakout above the 10k barrier. thanks for sharing!
Nobody knows. If BTC doesn't scale while others do it's going nowhere. If it scales then maybe it goes to the moon. But probably not.
Completely agree! Bitcoin won't hold long term. Basically it being the first and it being widely known (Talk to 99% of people about Cryptocurrencies and the first thing they will say is Bitcoin) is the main reason for it to be still sitting in its throne. Technology wise it lacks in so many features, like high transfer fees (transferring $100 USD costs the same fee as transferring $1,000,000) and its high confirmation time.
Therefor I really do not see Bitcoin on its throne (market capitalization wise) at the end of this year.
great post as always. i still think bitcoin would hold not really as an inuse coin but as a store of value, and with all coins soon to be minned out its gonna peak really fast.
Hey, Do you think its worth it to HODL Bitcoin at the moment? Followed you too
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