Possible fall before the next big rise
Possible reversal signal from Bitcoin charts:
Below is a daily candle chart showing a shooting star 3 days ago which was not confirmed the next day (yesterday 19.12.2017), but today we have a strong bearish candle which is about to close and could be the 1st confirmation of the reversal of the bullish trend.
Let's take a look at the weekly chart:
Here we see the critical number 20K was not broke and this week we have a bearish candle but with shadows form both sides.
The fibonacci extension from the end of September (This is when the real bulls joined the game), gives us the support at 13 300 dollars. This is way below the today's prices.
Pantera Capital CEO Dan Morehead said that Bitcoin could plunge 50 percent next week, but the digital currency is likely to rise much higher in the long term.
Can this be it? If bitcoin goes down next week to 13K and the resistance works, we could see the next big correction after we saw one in the first week of November (when price of the Bitcoin fell to 5.5K from 7.5K) before Mr. Morehead's forecast turns into the real game. (This will be a correction in between 25-30%)
We shall see what is on the line next week and I'll be quite happy if my technical analyses show some proof.
Yep, I have pulled out of bitcoin for now. I will probably get burned but it feels like the right thing to do right now.
wait and stay :D
Thanks for sharing your analyses.
I'm new here :)
https://steemit.com/bitcoin/@marketmaven1/asian-crypto-traders-are-hitting-the-sell-button-less-than-24hr-after-our-sell-signal
welcome :)
big rise coming!
Did it not already do it's reversal? It is getting ready for a reversal now.
nice post and pic
Dont forget to upvote follow & resteem
@nurdinnakaturi
nice information dear...
GOOD