Bitcoin Continues Downtrend!
Bitcoin is not surprisingly riding its way down the trend line. I see it going down to the $9000 dollar range bouncing off previous bottoms earlier this month. If it does go a bit further than the .382 Fib line is a good candidate for a bounce off.
Meanwhile we all can take profits if we were wise enough to ride these waves up and down. Within this month we have had a $5000 dollar difference that is roughly 70% gain. There is definitely room for profit!
Thanks for your Time, Upvote, Comment, and Resteem!
Good job friend
I am targeting that same 9K range with my buy orders. It seems like there are already a lot of people trying to get in ahead of that - keeps bouncing off the $9,300-$9,400 range.
It's true there were a lot of buyers waiting down there. The correction should continue and bring back down below although there is a lot of volume in the past week so that tells me it may just head up! Otherwise we are looking at the next bottom being around $8000
I see you mentioned something there about a bounce off. At what date do you expect things to bounce back towards an upward trend?
It's hard to say really there are several indictors that show a bull trend forming.
3.Trend line is collapsing into a flag price jumps are getting smaller and smaller
My prediction says the first week of March and we will be out of the trend line. But it could take until March 15th or 16th to break out!
Technically in the long run we are still in a bull trend. This bear trend is more a sub-trend.