This is my analysis and justification as to why Bitcoin will probably drop to 3600, with a small chance to 2500.
Note: This chart uses a log scale (base 10).
Note: This chart uses a log scale (base 10).
Comment:
A drop anywhere on that exponential function is fair game, as it qualifies as support. It's been a while we haven't approached it, and maybe we are going to get a bit close to it this time around.
Comment:
This is a more accurate exponential support.
It was not drawn very well in my last post. If we break green downtrend, I will have to increase my 3600 prediction. As of today, that's my personal target.
It was not drawn very well in my last post. If we break green downtrend, I will have to increase my 3600 prediction. As of today, that's my personal target.
Comment:
I think we'll get a bounce shortly, I am very interested if it will break that green trend line. If it does, I will adjust the bottom for BTC. As of right now, I don't see a $2,500 BTC, but $3,600 is in play as lowest.
Comment:
Keep an eye out...
Comment:
Leaning towards 3600- 4300 as a bottom for BTC now.
Leaning towards 3600- 4300 as a bottom for BTC now.
By the way, the trend line you see on the log scale would be an exponential function on the linear scale. It would be something like f(x) = 225*10^x starting at the initial point. I am not 100% sure on this though, but still quite sure.
Bitcoin still has an exponential trend going for it. It will take much more selling to actually break this trend.