What happened to the $17,000 'Bitcoin'?
Right now the charts are on a SELL SIGNAL, as larger investors sell off on news of regulation, bans and everything in between. This is a risky game, and nothing goes up in a straight line.
https://coinmarketcap.com/currencies/bitcoin/
I will this in two parts with a chart [drawn below]
PART 1 : BITCOIN CHART
I believe the Cryptocurrency market could hit $1 trillion this year with bitcoin surging to $30,000+ as I have explained before.
Cryptocurrencies could go on a bull run greater than last year and pass the trillion-dollar value mark, so we need to be careful here.
There are Huge Technological advancements and new investor products and the fact that institutes might start to march in soon!!.
Investors may focus on so-called "utility tokens" this year which are digital coins that can power blockchain technologies, according to one expert. Utility tokens I do not hear anyone on quora talking about, but they will be HUGE…so look out for them.
PART 2 :
I can post to the moon and back and ramble on about the fundamentals, but what is key for us investors is the chart. So here is why I am starting to get excited about BITCOIN again.
The selloff that we have seen the most recent couple of months looks bad, yet it is really what is named in specialized investigation a BULLISH falling wedge that in the end crushes out the bears, and breaks to the upside, I would expect this in the following 45– 50 days would be my best figure here.
Our longer term slant at the base you can see moved backpedals around a half year, thus far has not by any means been broken. So that is another twofold affirmation that purchasers are still in this market until further notice, and a bear showcase has not begun like some out there are suggesting.
NOW THIS IS THE MOST IMPORTANT. The MACD at the base or a marker that decides whether a benefit is overbought or oversold is right now oversold, however the difference has been attracted down to the base and nearly maximized. This implies, the following rally coming to bitcoin will SHOCK and AMAZE numerous individuals and could be quick, savage and I have never observed it maximized this much since day 1 of BITCOIN. Its exceptionally historica, and this is energizing, and means eventually of 2018 we could see an extremely rough rally that will destroy BEARS and Maybe observe BULLS PANIC to get back in. It may be where a few bulls abandon it past the point of no return and pass up a great opportunity out and out! Goodness!. NOTE : the macd has not crossed to a purchase flag yet, but rather its getting close and divergences on the histogram propose that isn't too far away.
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Hope this help.
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