hunnndini

The Coin (Weekly Timeframe)

COINBASE:BTCUSD   Bitcoin
Recently BTC slipped passed its old support level and had everyone puzzled. Did new sellers enter the market, regulations, speculation etc. It has now found new support at one of the only true supports from the coins history which was in Sept. '17 The old support never really linked back to any hard supports ( you can see from the chart ). I do believe it is still exhausting seeing that in one year from Dec. '16 - Dec. '17 it went from $700.00 to $20,000.00. I have ideas I believe it will follow, if it breaks this new level it will be quite awhile until bitcoin finds a stable price to stay put. Then another prediction I also have is the coin consolidating inside the old support which is now resistance and the actual new support. Unfortunately we will not see any sort of bullish reversal of any type until it reaches and passes Low-Hi 3. I believe once China gets engaged again more heavily, the price will be on its way. Though this is extremely new to the market, not even 5 years old I don't believe even the smartest experts have a clue about this.
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.