When bitcoin first reached 1000 dollars, it seemed so much that a lot of people started selling and it crashed to 180 dollars, a crash of more than 90%.
The stakes are even bigger as it sky rocketed to an all-time high of more than 7 times of 7500 dollars in an year alone. Optimism has almost vanished as everyone was speculating about a crash and a selloff happened at around 7k dollars.
1 Month trend
1 hr trend
The trend in last half an hour is looking very attractive but this could well be a trap as you look further in the past, if its a proof of anything.
24 hrs trend
4 day trend
Now the prices are below 5900 and it seems very unpredictable as bitcoin always is, my technical analysis predicts an even bigger fall after consolidating around 6k.
There is another strong support at around 4500 mark as it will be interesting to see if it picks up from there or goes even bellow 3000 mark, which has a very strong support and it should not go bellow that if laws of Physics apply here.
Although everything you said could happen, you really don’t know which direction it’s going to end up. You should put an exclaimer and maybe change the title. Your title makes it seem like a crash WILL happen
@masscollective i appriciate your opinion and i have changed the title. Keep making these small efforts to improve the quality of content we provide here. Please upvote
If u find this information useful, please upvote and comment on it so that i could continue posting useful content. :)
Congratulations @parkycriptocrat! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPHey There. Newbie. Interested in meeting people who can explain Crypto to me, and are socially/politically motivated. Want to know if a Crypto can be tied to a socially constructive aspiration. A philanthropy for example.
Congratulations @parkycriptocrat! You have received a personal award!
Click on the badge to view your Board of Honor.
Do not miss the last post from @steemitboard:
Congratulations @parkycriptocrat! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!