TheUrbanInvestor
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Bitcoin heading for $3k? Why I Believe Bitcoin Is Yet To Bottom

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin             has not bottomed in my opinion mainly due to the lack of volume and the clear resistance level from the falling wedge . Expect a retest of the $6k level and a further drop to $3k. Historically Bitcoin             MoM has ALWAYS closed the month of March BELOW February and therefore I believe the bear trend will continue into March.

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Bitcoin             heading for $3k? Why I Believe Bitcoin             Is Yet To Bottom:
https://youtu.be/B-HX-21YAi8
Has your opinion changed today?
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@tharpoon, thanks for the comment. As I said to x0crypto earlier today, I won’t be bullish until we move past $10k with conviction. The good news is the volume is picking up. However this needs to remain over the coming days and weeks and Bitcoin needs to provide confirmation at $10k. Until then I remain bearish and the current breakout still could end up being a bull trap as I have suggested in my chart
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I think where you have 3 it should really be 5 and your Elliot wave is complete. Why the FUD?
Reply
@x0crypto, Appreciate the feedback. The above is not FUD, just my opinion. I hold Bitcoin and believe it will go on to hit ATH's above $20k in 2018. For a bull market confirmation we really need sustained volume which we haven't had so far since the $6k recent bottom. If BTC successfully closes above $10k in the coming days and weeks, this will be a major bullish sign. Until then, I remain bearish given we have had a few 'fakeouts' since its recent ATH
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