I'm short-term bullish as we come to the end of a bigger descending triangle while testing $340 resistance, which has been tested several times, but there's been a lot of selingl volume lately. Sometime in the next week, I expect the price to react to the new moon and finally break $340 support with conviction and go on to test $300s and possibly down to $250 in the longer term.
The big blue line on the chart is the long term downtrend line from the $995 peak shortly after the ATH from the last bubble. I expect this line to stay intact for now, but as I've mentioned before, I think we're headed for a significant crossroads soon that will determine the long-term future of bitcoin. This pump appears to be somewhat more resilient than the last one, but it's still following a downward trend that could end in a panic sell rather quickly.
I accept BTC Donations:
1JzjmYmk2enL3HPCoruSR7KYQRQ4bkoTR4
Thanks!
Also, if you're interested in setting up a trading account on Bitfinex, message me and I'll get you 10% off trading fees.
The big blue line on the chart is the long term downtrend line from the $995 peak shortly after the ATH from the last bubble. I expect this line to stay intact for now, but as I've mentioned before, I think we're headed for a significant crossroads soon that will determine the long-term future of bitcoin. This pump appears to be somewhat more resilient than the last one, but it's still following a downward trend that could end in a panic sell rather quickly.
I accept BTC Donations:
1JzjmYmk2enL3HPCoruSR7KYQRQ4bkoTR4
Thanks!
Also, if you're interested in setting up a trading account on Bitfinex, message me and I'll get you 10% off trading fees.
