Bitcoin Price Forecast 9/21/2017

Are we just the puppets in this Bitcoin game? Current MC: $124.6B (-$11.2B since last forecast) Bitcoin Dominance 48.7% (high)

There are some master market manipulators at work here and we are seeing the effects daily. From pump and dumps to spoofing order books, cryptocurrencies are susceptible to many forms of manipulation but there seems to be something more sinister at play.

There are certain people in this crypto community who wield more power than others. I'm not going to name any names but you may know who these bad players are already. Additionally, government corruption is also a factor in places like China where bribes and cronyism are not uncommon in such a vast bureaucracy.

The exchanges are changing policies and adding/de-listing coins daily. Exchanges in China are closing and restrictions are tightening. The iron fist of China's government, which also control their central bank, is coming down with a vengeance trying to implement capital controls. The good news is that China is no longer the dominating country in the Bitcoin markets. Japan and the US are the two largest Bitcoin traders in the world right now.

In today's chart you will see that we experienced that resistance in the $4000-4100 range just like I predicted and then found slight support in the $3850-3950 zone throughout most of the day. Retracement down to the mid $3500 zone where the next major support level lies. If there is a major news event or significant changes in any Chinese regulations we could be headed for the $3300 support level again.

Stochastics indicate we are oversold and the MACD looks like we are almost at the bottom of this downswing. Bollinger Bands show the moving average around $3800. Retracement levels are looking solid right now so this is a normal dip.

Likely Scenarios:

• BTC drops to the $3400-3550 zone before going back up
• BTC stabilizes between $3650-3750 before moving back up above $3850
• A nice jump in volumes pushes us back to the $4K support zone

TLDR Version:
Bitcoin and blockchain technology is possibly the most important financial tool of our lifetimes. So cut those strings off your puppet hands and stay strong! Bitcoin will find support in the mid $3000 zone today with possible retracement to $3400.

Price Target:
$3750

Alt-coins To Watch:

• BCH
• IOTA
• NEO
• EOS
• DASH
• ETH
• LTC

*Never invest more than you are willing to lose and always do your own research before making any investment decisions.
(All pictures are free domain images from snappygoat.com or created by myself.)

BONUS PICTURE