As the title says, Bitcoin will move higher, but it is pointing lower now, so we need to see how this will develop and how far lower can it go.
BTCUSD Chart signals by Alan Masters
- Decreasing volume .
- Bearish MACD and RSI .
- Trading below EMA5 & EMA10 ( bearish potential).
- Mondays tend to be bloody when in bear mode.
- Support levels are marked with dashed blue lines.
- Resistance levels are marked with dashed orange lines.
We’ve also drawn multiple potential scenarios (green, blue and red arrows)…
What’s your take on where Bitcoin will go next?
See here for our Bitcoin analysis LONG-TERM:
Prediction: The Next Alternative Cryptocurrency Market Bull Run!
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.