Bitcoin to break out?! or not?
Hey guys,
just sharing my thoughts on next bitcoin moves.
As you may know on 25.02 bitcoin 77 days MA crossed 231 days MA which is a bullish signal!
Also yesterday on 26.02 Bitcoin core team announced huge update: "Bitcoin Core 0.16.0 introduces full support for segwit in the wallet and user interfaces." This made some price action as well, but if we look at longer term BTC chart bitcoin still needs to break out from major resistance (downtrend) line which is above 11k$ at the moment!
That is why painted some possible BTC price scenarios:
I believe that scenario 1 is more likely to happen but you can never know. This might be a good time to look through and re-balance your portfolios, because:
- in case of btc moon, alts will loose steam and dip versus btc.
- in case of large btc dip, most alts will also lose versus btc and dip even harder vs usd!
- only if btc will go sideways and consolidate for some time, popular/hyped/loved alts will moon vs BTC!
P.S. Please comment bellow which one of them "1" or "2" you prefer/believe... or maybe you have totally different thoughts.
Good luck! :)
I imagine that case number two is going to happen. I am hoping for three, but who knows with crypto!
Thanks for your comment, i agree.. case 2 is very possible, but after that it still seems pretty bullish! :) If case 2 happens, i think end of march will be bottom for btc.. and then uptrend..