Digital Currency Past Present Future - Bitcoin's Tripple Bottom Formation
Bitcoin just completed a Triple Bottom Formation. A third attempt to drop below its previous low and an equal number of attempts to break through its ATH.
Now, we are left with two possible scenarios (see previous post Four Scenarios for Bitcoin):
1.) BULLISH TRIPLE BOTTOM
Under this formation, for the bull to continue its charge, the next upward move should break through the 1st resistance level of $16,000. If it further breaks through the next resistance at $19,600, the next destination is to the uncharted territory.
2.) BEARISH TRIPLE BOTTOM
Under this formation, the bear will take over the bull if the 1st support line at $13,000 is breached. If the 2nd support line is further breached, many will question if bitcoin's era is over and a new king needs to be proclaimed.
Disclosure: This post does not intend to provide investment nor does it represents that the securities or services discussed are suitable for any investor. Investors are advised not to rely on any information contained in the article in the process of making a fully informed investment decision.
Thanks for this! I'm pretty new to cryptocurrencies, glad to learn more on how possible trends work. ☺
Bitcoin is in a very unstable situation, HODL of alt coins could be a solution rather than selling it in panic. What do you say sandalphon?
agreed @dailytech. I'm holding strong.
This post has gratitude of 4.45 % from @appreciator thanks to: @sandalphon.
Ok, in all this, what is the possibility live span of BTC am curious to know. Thanks
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it really comes to a point where i dont know if i wana sell my bitcoin now and wait when it drops and buy again or just hodl and stomach all the dumps and pumps it makes. But also then it comes the question if it drops a lot will it recover soon or no... Anyway hope for te best and good luck to all of us ! :D
Is this a big constraint for the mined bitcoin .. Because I am still a beginner here?
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a good remark thank..nice post
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