Hello guys,
Analyzing the monthly chart, I have no doubts about the continuation of a movement downward.
After months of a low volatility, I was expecting for a directional movement. As a result, Bitcoin has broken the horizontal support, going to hit my original target at 4500 Usd. Please check out my previous post written in June, when I predicted Bitcoin to reach 4500. At the moment, my view has not changed and consequently I expect Bitcoin to tumble down further.
First target at 3000 USd, where we could to see a strong rebound to move then to the second target at 1000 USd.
Long term trend is bearish. Trends are valid for years; therefore it would be unrealistic to see the Bitcoin going to hit new highs in few months.
Thanks Guys.
See you soon,
Simone
Analyzing the monthly chart, I have no doubts about the continuation of a movement downward.
After months of a low volatility, I was expecting for a directional movement. As a result, Bitcoin has broken the horizontal support, going to hit my original target at 4500 Usd. Please check out my previous post written in June, when I predicted Bitcoin to reach 4500. At the moment, my view has not changed and consequently I expect Bitcoin to tumble down further.
First target at 3000 USd, where we could to see a strong rebound to move then to the second target at 1000 USd.
Long term trend is bearish. Trends are valid for years; therefore it would be unrealistic to see the Bitcoin going to hit new highs in few months.
Thanks Guys.
See you soon,
Simone