Possible fall before the next big rise (part 5)
Bitcoin continued to move sideways but slowly building a growing trend.
Above is the hourly chart with the current price at 14 400 USD.
In the previous parts of this post I mentioned that Bitcoin needs a closing day above 19 500 for a strong bullish uptrend.
Let's take a look at daily chart with fibbonaci extensions:
Yesterday the support at 38.2% extension did hold and today we have a green candle but yet with some shadow on top.
19 500 Price level is way above the current price but it is a very next target as a resistance to be broken should the uptrend continue.
Going to hit 16 000. Currently trading at 15 800. Do you think it will hit 20 before 2018?
Still a long way to go. I guess it will happen in January.
1.Will bitcoin rise anymore?
I don't know
I believe Bitcoin will rise, but it's not going to take over the world like some people believe it will. Steemit is definitely a very powerful platform that can seriously disrupt the social media industry. Bitcoin was the introduction of crypto to the masses, but I believe blockchain technology is what will really change the world.