BTC has broken below the 21 monthly EMA which acted as support for most 2018. Last time it happened in 2014 we had a 60% drop and 12 months of bear market. Not saying this will happen again exactly in the same fashion but something to keep in mind
I think a bounce from the EMA 200 or the MA 200 is the most likely scenario
That would take us in the low 4000 ish or 3000 ish zone. 3k seems realistic
1k is a possibility if the market doesn't get any new interest
It may take a while to get there as many traders still try to buy the dip. We will have some dead cat bounces but if will probably fail and cascade down breaking the previous support. It could take another year of slow grind to get there as in 2014 and start a new pump and dump cycle
Lets see how this will play out - See you in one year
I think a bounce from the EMA 200 or the MA 200 is the most likely scenario
That would take us in the low 4000 ish or 3000 ish zone. 3k seems realistic
1k is a possibility if the market doesn't get any new interest
It may take a while to get there as many traders still try to buy the dip. We will have some dead cat bounces but if will probably fail and cascade down breaking the previous support. It could take another year of slow grind to get there as in 2014 and start a new pump and dump cycle
Lets see how this will play out - See you in one year