Bitcoin eventually took a bounce back from $3100 yesterday but how long that bounce is going last?
There are currently two resistance points from where Bitcoin's current rally can fail and go down again.
- Fibonnacci 38.2% ressitance level at 4300
- 21 Week EMA at 4000
Another important question is: Has Bitcoin already touched its bottom yet by going near to $3000? Has Bitcoin reached its Capitulation point yet?
First let me quickly explain what Capitulation is:
Capitulation is not unique to Bitcoin market and it is ultimate point where eventually most of Bitcoin investors will lose faith and give up by pulling out rest of their investments.
We did not experienced that at $3000 but end of December or Start of January 2019 could reveal this ultimate capitulation point and it could last 3-4 months.
There are serious indications of manipulation of Crypto Market and forcefully achieve this ultimate bottom could be the objective of Hidden Institutions so that normal investor might completely lose its faith in this technology/asset and move away from it but only true HODLers will survive this critical point.
It has been a while since we saw such nice bullish action.
Bitcoin's momentum keeps on growing... $3600 next target.
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So do you Expect Bitcoin to Hit the 7000-8000$ Mark Again?? Or gone are those days ..... ??