Bitcoin likely to see some major volatility in the next week or so
We are getting close to decision time for BTC...
Bitcoin is about to brush up against its year long downtrend line.
That usually means price is either going to break through it or bounce off to a new lower level.
(Source: https://twitter.com/alistairmilne/status/1086558369513648128)
Which will it be?
Unfortunately, my guess is that we break to the downside yet again.
I wish I had better thoughts, but usually at bottoms we see more violent price action.
Meaning that when prices plunge lower they often bounce back just as fast if the bottom is truly in.
What we have seen is a slow meandering drifting type of price action off the lows.
Not something usually seen when bottoms are put in.
Hopefully I am wrong though and we smash through the downtrend.
What do you think will happen?
Let me know your thoughts in the comment section below.
Stay informed my friends.
Follow me: @jrcornel
I am hoping the downtrend reverses and starts a new uptrend.
Me too.
It will have to leave that downtrend line at some point. If you continue to draw the line all the way to $0 it will reach that point around the first of may 2019.
I doubt it will go that low so we will most like get some answers (break the line) within now and 3 months.
Hopefully with a nice up move.
Very true, and yes hopefully with a nice move up. There is also the possibility we do break it to the upside now as the sentiment in crypto seems to be changing, you can sorta feel it as random altcoins are finally moving up again.
"Bitcoin likely to see major volatility..." In other words, everything normal!
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Status quo!
I thought with ETF approval on January 24th we would see a very positive move for Bitcoin. Now, thanks to government shut down, the SEC is putting everything on hold so we will see another delay on ETF approval. Not good in the short run.
Yea, I don't think we will see an ETF approval for a while. The next date to watch for is VanEck in late February.
😩😩😩
Yes nice prediction, you are correct
You also think lower?
May be or may not be anything could happen
Yeah I believe we will drop a little lower but not drastically. I feel that were not at the bottom quite yet but are near. I believe bottom will be around $2,500 give or take a $100 and as you said a quick bounce back up and a long sideways action for 2019 unfortunately for those who are in a rush to make a quick buck. The bitcoin halving in 2020 could kick off the next bullrin. Unless we get some crazy news to bring all the hype back.
I see 2019 as a accumulation period, there are many undervalued projects out there in my opinion. Great time to cost avg and accumulate. The bottom is near. #blockchainrevolution
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Yep, I could see that as well. I doubt be break $2k.
I would like to see bitcoin $1300. 😋 jk lol
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Ha, I hope we don't!
I would like to see bitcoin $1300. 😋 jk lol
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Probably one more big test upcoming for those saying they have strong hands! Got my popcorn (and wallet) ready!
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It may be starting now...