Bitcoin Price Prospect: 21.03.2018 (with some basic explanations)

in #bitcoin8 years ago (edited)

Let's see the day chart.

First of all, we can draw the bottom line from when Bitcoin started to show some meaningful patterns.
Also, since we know where the top line shall be, it is quite easy to find the middle line.

Now, we need some trend lines to analyze where Bitcoin is heading to.
A couple of blue lines made by connecting the highs with highs and lows with lows are the ones.

With two blue lines in the previous image, we now realize that current Bitcoin price is making a channel.
And Bitcoin is going upward to the middle point of the channel.

If it breaks through the middle point of the channel, yes, it could be a signal for the hugh bull run.
Otherwise, it's going to be resisted by the middle point and make the reverse head&shoulders pattern like the one I mentioned in the previous post. As I see it, it's more likely to make this pattern.

Right, at least for now, you don't have to worry about any plunges or great fall. I'd say future is quite bright in a short run.
Just keep focused on the news regarding cryptocurrency that the BIG BOYS issue. STAY STRONG. DO NOT GET FUD.

Coin Marketplace

STEEM 0.04
TRX 0.32
JST 0.098
BTC 64084.10
ETH 1842.68
USDT 1.00
SBD 0.38