When I look at this chart I'm kinda scared about bitcoin .
On a daily timeframe we are trading in bearish flag pattern which is a bad sign for bitcoin .
Then if I look at these support and resistance lines (yellow lines) I see next price target at 12.000$ per bitcoin which could serve us as end of the bull market because of fall from all time high to 12.000$ per bitcoin is 84% crash.
If we look at the history of bear markets we can see that price always fell somewhere betwen 80-90% and if we use data from history we can see that 80-90% crash lead us to prices betwen 13.800$ and all the way down to 6.800$.
I'm still waiting for lower prices to get back in.
A lot of ALT coins can go to zero if we will see another drop on bitcoin.
Stay safe, trade your analysis and invest only how much you can afford to lose.
On a daily timeframe we are trading in bearish flag pattern which is a bad sign for bitcoin .
Then if I look at these support and resistance lines (yellow lines) I see next price target at 12.000$ per bitcoin which could serve us as end of the bull market because of fall from all time high to 12.000$ per bitcoin is 84% crash.
If we look at the history of bear markets we can see that price always fell somewhere betwen 80-90% and if we use data from history we can see that 80-90% crash lead us to prices betwen 13.800$ and all the way down to 6.800$.
I'm still waiting for lower prices to get back in.
A lot of ALT coins can go to zero if we will see another drop on bitcoin.
Stay safe, trade your analysis and invest only how much you can afford to lose.
