Bitcoin - The new year. The bottom and its future.
Around the turn of the new year, Bitcoin will bounce off the long term trend line. Bottom should be in at around $2400.
For the careful, I recommend a long entry after the break of the downtrend line in red.
After the current capitulation we are all experiencing, it will take some time for Bitcoin to regain its strength and speed. It will glide for a month or two and then regain some strength and rally to around 7-9k. By this time the second hoard of gamblers should feel comfortable enough to believe the price will rally above its previous peak. Unfortunately, it's then that a major bull trap will shakeout the weak looking to make a quick buck. Bitcoin will again bounce off the long term trend line and continue up its original trajectory.
The resilient will stay and profit from a long term Bitcoin investment.
For the careful, I recommend a long entry after the break of the downtrend line in red.
After the current capitulation we are all experiencing, it will take some time for Bitcoin to regain its strength and speed. It will glide for a month or two and then regain some strength and rally to around 7-9k. By this time the second hoard of gamblers should feel comfortable enough to believe the price will rally above its previous peak. Unfortunately, it's then that a major bull trap will shakeout the weak looking to make a quick buck. Bitcoin will again bounce off the long term trend line and continue up its original trajectory.
The resilient will stay and profit from a long term Bitcoin investment.
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