🔰Bitcoin At a Critical Trading Range🔰
I came across this chart on Twitter and thought of sharing it with you guys. Looking at this chart it is clear that this is indeed a critical trading range for Bitcoin. If Bitcoin can break the upper wedge we will again see a strong upside momentum. As a crypto enthusiasts, we can only keep our fingers crossed and hope that Bitcoin will be able to survive this tough time and be back as a crypto boss.
If Bitcoin continues its parabolic bull run than we can expect a reasonable target around the 23k level and the greedy target is set around 30k. In my opinion, I would like Bitcoin to grow steadily so that even the investors will feel relaxed. I don't want it to be a pump and dump situation which only worsens the case for cryptos.
What you guys think will be the price range for Bitcoin for the month of January? Is it going downhill or uphill? And will it be able to continue its parabolic run in the coming months?
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Nice analysis @vj1309, though not outside bitcoin’s normal range of volatility — the market pulls back by 30 percent approximately once every two months — this is the largest correction since U.S. exchanges CBOE and CME launched bitcoin futures contracts, which shows that this downturn carries particular importance for bitcoin’s future.
Either this sharp price correction will act as a catalyst for expanding what, until now, has been quite limited institutional involvement in this market or it will become a stage in the deflation of a remarkable and historic asset bubble.
Love to read your articles....keep it up buddy
We saw a huge run up early Dec and it all became a bit frothy IMHO.
It would be good to see a steady rise over the coming months, otherwise it plays into the hands of the sceptics if it's overly volatile.
BTC is going down with slow increases in price until the end of 2018 where it will reach $50000.
#bitcoin
I will probably see it first, how the future