Bitcoin to hit 3000 by 1st December 2018 (6 months bearish)
Looking at the MACD on the weekly looks like we are going up soon, but I do not expect to break out of the falling wedge. On the monthly chart (posted below in the comments), the MACD is fully bearish and it looks like it will take a lot of time to get back.
Bitcoin needs institutional money to go up. Summer time is coming when many people are in holidays and business is slow. From this point of view we can expect a bearish summer and from September slowly consolidating. Until december I see a few big spikes, but remember that every year 2-3 weeks before Chinese New Year (February 5th, 2019) the market crashes. So, in the worst case in my opinion, the market will recover only starting from April 2019 onwards, after there are more regulations and more confidence.
Remember, when weak hands sell, strong hands buy. If you don't want to lose, HOLD with patience and your time will come. Bitcoin is here to stay.
Please leave your comments and opinions below.
Thanks and happy trading.
Bitcoin needs institutional money to go up. Summer time is coming when many people are in holidays and business is slow. From this point of view we can expect a bearish summer and from September slowly consolidating. Until december I see a few big spikes, but remember that every year 2-3 weeks before Chinese New Year (February 5th, 2019) the market crashes. So, in the worst case in my opinion, the market will recover only starting from April 2019 onwards, after there are more regulations and more confidence.
Remember, when weak hands sell, strong hands buy. If you don't want to lose, HOLD with patience and your time will come. Bitcoin is here to stay.
Please leave your comments and opinions below.
Thanks and happy trading.
Comment:
Bitcoin Hit 3000 on 1st December :)