Bitcoin Fails To Uphold ATH Trend, Support Predicted at $5,400

in #bitcoin • 7 years ago

bitfinex-btcusd-Apr-17-2018-15-12-9.png

Bitcoin's recent week long rally has failed to meet or break the trend from around 19k. This means further downward correction is imminent. All technical indicators point to this continued down-trend as well.

Here are a few of the recent events that lead me to believe the monthly bottom could be below $5,400:

  • Recent announcements of various scrutiny/investigation on a number of different exchanges that offer trading in the US

  • The US 'tax day dump' to cover capital gains

  • Alt-coin pump and dump schemes (Verge/ XVG) as a result of 'questionable' partnerships

  • Global economic tensions with both Russia, China, and potentially the Korea's.

  • Ensuing natural disasters that may cripple internet infastructure

  • Russian agents attacking various internet faucets in the US

Its a dark time, indeed.

#cryptocurrency #economics #money
7 years ago in #bitcoin by
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