Historical dates played important roles in predicting future price action in Volatile assets like Bitcoin.
Yesterday I was checking the 2017-18 historical chart and found one interesting thing on the chart, which may help us to predict future price action.
Bitcoin reached 20,000$ - which was the top of Bull Cycle in the 2nd week of Dec'17. And more interesting here is: Bitcoin also reached the bottom of the primary bear market in the 2nd week of Dec last year, exactly a year after price reached 20,000$.
One thing is clear, the 2nd week of December has been important for Bitcoin in last two years. So we need to consider the fact that, there could be a chance for history to get repeat again, and bitcoin could find bottom in the 2nd week of December.
Now where Bitcoin could find Bottom?
5700-6000$ is a very strong support area, which managed to hold the price for 9 months in 2018.
I am expecting Bitcoin could find a bottom around 5700-6000$ area.
Yesterday I was checking the 2017-18 historical chart and found one interesting thing on the chart, which may help us to predict future price action.
Bitcoin reached 20,000$ - which was the top of Bull Cycle in the 2nd week of Dec'17. And more interesting here is: Bitcoin also reached the bottom of the primary bear market in the 2nd week of Dec last year, exactly a year after price reached 20,000$.
One thing is clear, the 2nd week of December has been important for Bitcoin in last two years. So we need to consider the fact that, there could be a chance for history to get repeat again, and bitcoin could find bottom in the 2nd week of December.
Now where Bitcoin could find Bottom?
5700-6000$ is a very strong support area, which managed to hold the price for 9 months in 2018.
I am expecting Bitcoin could find a bottom around 5700-6000$ area.