BTCUSD on the Montly and Weekly chart is overpriced a little too much. BITCOIN has a lot of potential, but it should traceback to maintain before going up.
The 3 arrows show 3 major resistances where BTCUSD should bounce back off, which is in the 1200-1300 area.
The reason BTC has grown so much these past days is possibly because of the fear factor from the French Elections. A lot of people started investing in BTCEUR since BITCOIN is becoming the new GOLD which offers safety when currencies are at risk.
A side note that in the 4 hour chart there might be a consolidation forming and a breakout could be due this week. It is Monday so markets in EUR and USD are only starting to play out. Since EURO is safe for the moment, people might slowly trace back from BTC to EURO, making BTCEUR and BTCUSD drop a little bit for the coming days.
If BTCUSD reaches 2000 there will be huge hype from the media and cryptocurrency communities, which will make the price move up immensely.
I am amateur trader, so please consider before taking my predictions as highly possible.
The 3 arrows show 3 major resistances where BTCUSD should bounce back off, which is in the 1200-1300 area.
The reason BTC has grown so much these past days is possibly because of the fear factor from the French Elections. A lot of people started investing in BTCEUR since BITCOIN is becoming the new GOLD which offers safety when currencies are at risk.
A side note that in the 4 hour chart there might be a consolidation forming and a breakout could be due this week. It is Monday so markets in EUR and USD are only starting to play out. Since EURO is safe for the moment, people might slowly trace back from BTC to EURO, making BTCEUR and BTCUSD drop a little bit for the coming days.
If BTCUSD reaches 2000 there will be huge hype from the media and cryptocurrency communities, which will make the price move up immensely.
I am amateur trader, so please consider before taking my predictions as highly possible.
Comment:
Based on some more basic analysis, i would guess that BTCUSD will be 3000 value on November 2018 (11/2018)
Comment:
BTCUSD might reach 1300, but buying should be done above that price, possibly 1400
Comment:
Further consolidation might indicate that price highs are getting lower, while price lows try to be maintained at the same level. Buyers seem to be fading.
A descending triangle formation can be seen. Higher chance that breakthrough will go down.
Further consolidation might indicate that price highs are getting lower, while price lows try to be maintained at the same level. Buyers seem to be fading.
A descending triangle formation can be seen. Higher chance that breakthrough will go down.