The Godzilla will always find a resting place deep in the sea before it gains the energy to fight on the land. This is the same view I have with BTC, it looks like it loves its resting place at 200MA's before regaining its energy to rally. I am not saying that I am absolutely right, if I'm wrong then I am wrong. But looking at the pattern, still it couldn't convince me that price will make a reversal anytime soon.
In fact, in my opinion, it will keep continue resting until the 20k level, and you know what, it still won't make any difference until any price emerges which shows buying power overcome the selling pressure. It may also continue downwards to 6k level if sentiments continues, there is a chance that it will never go up.
Good Luck.
In fact, in my opinion, it will keep continue resting until the 20k level, and you know what, it still won't make any difference until any price emerges which shows buying power overcome the selling pressure. It may also continue downwards to 6k level if sentiments continues, there is a chance that it will never go up.
Good Luck.
Comment:
A year ago, I did this analysis, and look where it is heading now. Some of my friends has put hundred of thousand $$ savings in BTC, and now their money has turned into dust. Keep your investment low risk and safe, market is a brutal place.