Bitcoin - Dump incoming, future price action drawn out
I know my recent call on LTC was incorrect (but it will drop just in a different way).
This time, I predict a bitcoin dump to around $4000 and then another attempt at breaking $5000 (but failing). From there it will go lower than $4000.
I say this because I've seen this same pattern occur with various other speculative stocks. As much as Bitcoin is not a stock, it is still very speculative and I still remain bearish on the entire market. These prices remain a wild guess, and Litecoin's price once again seems very irrational because it is worth more than Monero (a far better cryptocurrency fundamentally) while having around 4 times the supply.
Look out for a correction and a dump in the coming days. It won't be that severe but we will be going lower.
Hope you enjoyed my analysis. I do not guarantee anything though! I still remain bearish!
Note: I am still holding some cryptocurrencies despite being bearish. Good luck all!
This time, I predict a bitcoin dump to around $4000 and then another attempt at breaking $5000 (but failing). From there it will go lower than $4000.
I say this because I've seen this same pattern occur with various other speculative stocks. As much as Bitcoin is not a stock, it is still very speculative and I still remain bearish on the entire market. These prices remain a wild guess, and Litecoin's price once again seems very irrational because it is worth more than Monero (a far better cryptocurrency fundamentally) while having around 4 times the supply.
Look out for a correction and a dump in the coming days. It won't be that severe but we will be going lower.
Hope you enjoyed my analysis. I do not guarantee anything though! I still remain bearish!
Note: I am still holding some cryptocurrencies despite being bearish. Good luck all!
Note
Note: 5200 closing price means this idea failed. I am also basing this idea based on many speculative stocks that have risen exponentially then came crashing down similarly to bitcoin. I did a lot of research.
What you are seeing is not some wild guess, but I can still be wrong. Either way, enjoy and good luck.
Note
If my idea turns out correct, I will explain another important observation I made. So I'll keep anyone viewing this updated. I am still sort of firm on 5200, if it closes at or above it, then I'm wrong. But I really feel like a deep correction will occur that will erase today's/yesterday's gains.
Note
The dump is coming soon. Currently at 5200+, but I don't buy this price action for obvious reasons. The last time LTC:ETH was 0.5, a huge crash followed.
Still has not closed above 5200 on coinbase, but I'm really not convinced we continue to pump much from here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.