The 128 day MA line which has been strong support for Bitcoin has been broken several times. Trend is continuing down, if 10k support breaks again it's a long fall into the 9-7k range.
Lots of bad news recently as Bitcoin merchants and businesses are dropping BTC use. Lighting network needs major adoption by said merchants and businesses to start gaining traction.
In the very long term Bitcoin will still break up above 25k this year... however right now seems like a great time to wait for better buying opportunities at lower prices.
Lots of bad news recently as Bitcoin merchants and businesses are dropping BTC use. Lighting network needs major adoption by said merchants and businesses to start gaining traction.
In the very long term Bitcoin will still break up above 25k this year... however right now seems like a great time to wait for better buying opportunities at lower prices.
Comment:
Last night's bull run got thwarted again at the resistance line. Looks like triangle still pushing consolidating into the triangle's point around 11100.
Trade closed: target reached:
Bottom was reached 2-6-2018, looking like we're finally back to up trending.