Current View: Short-Term: Bearish, Mid-Term: Bearish, Long-Term: Bullish
Bearish MACD Crossover signaling a possible move down to $8000. Possible double bottom at $6,000, but if we break below, we can possibly see $4000. If we break above, there may be a chance at a breakout to around $16,000, but I believe that would ultimately be a bull trap.
As we are in a bear market, I give the benefit of the doubt to the bears and remain bearish, though I am personally waiting for more confirmation in the upcoming days. If we can break above $12,000 and form a strong support level, I believe that would be an opportunity to establish a long position; I would be looking to sell at the $16,000 level as I expect strong resistance. If we break below the previous bottom of $6000, I believe we can see a move down to $4000.
Although I am bearish in the short and medium terms, I am bullish in the long-term. I expect this bear market to last longer than the 2014 bear market and end around mid-2019 to 2020. The next bull market should be longer and stronger than the previous bull market; I can see Bitcoin at a trillion dollar market cap with a valuation of over $100,000 to possibly over $300,000 per Bitcoin.
Good luck trading,
Eddy Yang
Bearish MACD Crossover signaling a possible move down to $8000. Possible double bottom at $6,000, but if we break below, we can possibly see $4000. If we break above, there may be a chance at a breakout to around $16,000, but I believe that would ultimately be a bull trap.
As we are in a bear market, I give the benefit of the doubt to the bears and remain bearish, though I am personally waiting for more confirmation in the upcoming days. If we can break above $12,000 and form a strong support level, I believe that would be an opportunity to establish a long position; I would be looking to sell at the $16,000 level as I expect strong resistance. If we break below the previous bottom of $6000, I believe we can see a move down to $4000.
Although I am bearish in the short and medium terms, I am bullish in the long-term. I expect this bear market to last longer than the 2014 bear market and end around mid-2019 to 2020. The next bull market should be longer and stronger than the previous bull market; I can see Bitcoin at a trillion dollar market cap with a valuation of over $100,000 to possibly over $300,000 per Bitcoin.
Good luck trading,
Eddy Yang
Not
Watch my Bitcoin Price Forecast for 2018 here: m.youtube.com/watch?v=fqMH89ywb9QNot
As predicted, Bitcoin continues its bearish trend in the short and medium terms, albeit a longer time frame than I predicted. Possible entry at RSI < 30 around 4k - 2k. Long-term bullish.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.