Bitcoin as many other altcoins made very strong momentum upside today, but don't start celebrate the reversal to soon! This move up could be just end move of flat pattern, however if Bitcoin will continue the up move and breaks previous top, flat pattern will be denied.
I have seen lots of strong moves upside on other cryptos, but after such moves instead of small corrections there was slow crawling down and new lows.
I remain with my previous prediction that BTC will make new low:
If I see structural changes on BTC chart in upcoming days, will post an update!
Note: This is not a financial advise or trade call, it's only my personal opinion and arrows in the charts shows just an indication of direction, not the specific points or targets!
PLEASE EVALUATE MY TIME BY UP VOTING AND RESTEEMING THIS POST. THANK YOU!
Your crypto_analyst
@andriustovis
Whats your current opinion? seems to be testing 7800k mark...
I have have a large stake in BTC however I know it effects everything else so watching closely at the moment.
My feeling is you might be right and they will be one last pull back before we are completely out of the bear market, or perhaps straight up...?
I see it consolidating after big run up, so today and tomorrow will be very important days to have clear view what BTC and other altcoins is going to do!
a) if it makes something similar to yesterdays run and breaks previous top we should see continuation.
b) if it slowly crawls down we should see new low.
Thanks! :)
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STOPwhy you think it will continue to make new lows ? i think as a long term view cryptocurrencies are a good investment, if you are a trader and look for profits in short term, maybe you are right, but in 10 years or 20 years, if now there are 24million wallets created of bitcoin (maybe less users because 1 person can have more than 1 wallet) and the active users will be way less... how many people do you think in the future will be using cryptos ? if more people use this platform, it will be higher the value... like facebook, it was not worth the same when it had 10 million users than 500 million users...
My opinion is based only on technical analysis! I don't speculate news, rumors and other staff. By the way, I'm mid-term investors in cryptos, not a trader.