Bitcoin Price Forecast 9/14/2017

How low can we go? Let's find out! Current MC: $133B (-$3.6B) Bitcoin Dominance 47.5%

The market is experiencing yet another day in the red and the bleeding just won't stop. The market sentiments are very weak right now as Bitcoin has been dealt blow after blow over the past ten days. First the China ICO ban and then the exchange rumors. Now getting bad-mouthed by billionaire bankers from Wall Street! It's been a rough ride for Bitcoin and even rougher one for alt-coin markets.

When will Bitcoin get up and fight back? We are all rooting for our king to come out on top again!

In today's chart I had to pull back the scale a little bit and show the bigger picture for more accurate retracements. We could be looking at even lower prices for Bitcoin over the next day with the next support level in the mid $3600's. Prices right now are about where they were a month ago. Remember that BTC was trading at around $1000 at the beginning of the year so we have still come a LONG way.

Likely Scenarios:

• BTC continues to fall dropping as low as the $3550-3650 zone before support steps in
• BTC drops down to $3650 before rebounding to $3800-3900 zone again
• BTC pulls back to that $4000 anchor point which represents the new resistance

TLDR Version:
Bitcoin will suffer another day of sell-offs as people wait for the market to bottom out before re-entering. We could see a drop to $3500-3650 at this rate, after which $4,000 will be the new resistance.

*Never invest more than you are willing to lose and always do your own research before making any investment decisions.
(All pictures are free domain images from snappygoat.com or created by myself.)