WicktatorFX

BITCOIN - Structural Change - Do NOT Miss!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
In our last Bitcoin analysis, we were anticipating a drop from the $56K region. We got more than we bargained for as price plummeted almost 50%! That big impulse caused structural changes to Bitcoin .

We were seeing a series of higher highs and higher lows until early May when we got a lower high (May 8th - $59,600) followers by a lower low (May 19th - $30K). This is a key structural shift that we can not ignore. It could mean that the crypto bubble is over (for the meantime).

Our focus should now be on the $42K region where we have previous structure. If we break that, the bull run continues! If we fail to break, we could see price move lower once more.

Goodluck and trade safe!
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Comments

Bitcoin is Windows XP, it’s old and archaic and will bleed out slowly
+2 Reply
BCubed Blue_Eyed_Owl
Good analogy! Bleeding into Gold.
Reply