Is it safe to buy bitcoin today, These is question we always get from friends looking out to ride the bitcoin train. Question is, Will bitcoin price continue drop? That we will to find out in this video and we will try to compare current price action to the historical dips of bitcoin.
At a quick glance, bitcoin doesn’t look good as we see in this line chart, it forms a bearish head and shoulders. This is validated in the 4 Hour Chart where we see bitcoin forming a bearish descending triangle which could potential push bitcoin price down to its 19K 2017 peak.
A strong bounce is expected at that level as we are expected to form hidden bullish divergence at the weekly chart.
Let me know what you think.
At a quick glance, bitcoin doesn’t look good as we see in this line chart, it forms a bearish head and shoulders. This is validated in the 4 Hour Chart where we see bitcoin forming a bearish descending triangle which could potential push bitcoin price down to its 19K 2017 peak.
A strong bounce is expected at that level as we are expected to form hidden bullish divergence at the weekly chart.
Let me know what you think.
Trade closed: stop reached
