BTC - The bear market might last a lot longer than people think
Updated
Here I lay out a case for a prolonged bear market.
The MACD cross predictions are based off support/resistance lines and the pattern from the bubble pop in 2014.
The 50 and 100 day moving averages will be huge resistances.
The area highlighted in light blue is a place I may start taking nibbles of BTC.
Also notice how high the volume is right now. Usually when the trend reverses we see very low volume for a prolonged amount of time.
The MACD cross predictions are based off support/resistance lines and the pattern from the bubble pop in 2014.
The 50 and 100 day moving averages will be huge resistances.
The area highlighted in light blue is a place I may start taking nibbles of BTC.
Also notice how high the volume is right now. Usually when the trend reverses we see very low volume for a prolonged amount of time.
Note
I'll go out on a limb here and say that the BTC bear market could last into Q1/Q2 2019.My opinion is that calling a bottom is far too premature. Crypto bear markets tend to last much longer.
Note
This analysis Seema on point to me. ccn.com/bitcoin-price-to-bottom-at-5700-in-short-term-but-recover-analyst/amp/
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