Yes I know it just dropped from 8.5 but...
We have all signs of possible reversal. I don't really like to call out bottoms,
because that nobody really knows, but I do see the possibility.
1. There is a big falling wedge.
2. RSI was severely oversold.
3. MACD graph has a support, and the waves are becoming smaller, which could also suggest that the market is more stable now than a couple of months ago.
4. Long term supports have not been retested yet, but they are just under the hand's grasp.
So even if it falls 1k or let's say, 2k more, those long term supports will most likely catch it.
Otherwise.. it's almost corrected already and starting to become overall bullish.
Once everyone sees that it's bullish again they will start to buy back.
And because so many people are in the game, the price can move up very quickly.
So... be on watch out, it can shoot up just the moment you give up on it ;-)
Plus there is one more thing, the alts - they just can't fall forever.
There are a lot of good projects out there and in order to utilize them you will have to buy those alts from exchanges.
And in order to utilize the exchanges, you will need bitcoins so the demand for bitcoins will grow.
We have all signs of possible reversal. I don't really like to call out bottoms,
because that nobody really knows, but I do see the possibility.
1. There is a big falling wedge.
2. RSI was severely oversold.
3. MACD graph has a support, and the waves are becoming smaller, which could also suggest that the market is more stable now than a couple of months ago.
4. Long term supports have not been retested yet, but they are just under the hand's grasp.
So even if it falls 1k or let's say, 2k more, those long term supports will most likely catch it.
Otherwise.. it's almost corrected already and starting to become overall bullish.
Once everyone sees that it's bullish again they will start to buy back.
And because so many people are in the game, the price can move up very quickly.
So... be on watch out, it can shoot up just the moment you give up on it ;-)
Plus there is one more thing, the alts - they just can't fall forever.
There are a lot of good projects out there and in order to utilize them you will have to buy those alts from exchanges.
And in order to utilize the exchanges, you will need bitcoins so the demand for bitcoins will grow.