Bitcoin bullish or bearish? Let's see how it moves.
Here, this is a simple analysis for the future of Bitcoin.
Today, a crypto-currecny consensus is scheduled, where many renowned developers come there to showcase their ideas.
According to the past, right before the consensus, the crypto market soared up and down with high volatility and after the consensus, it slightly moved up.
Concerning the impact of the consensus which can draw a picture of how cryptocurrencies can be applied in our real lives, it doesn't make sense that the market is to collapse after a certain amount of period of the consensus.
Therefore, I just connected two bottom lines which can give a reliable ground for the limit-bottom line and two higher points to show the upper-limit of price increase.
I do not care for any other indices here because this is not the time that technical analysis can give a convincing explanation about the market
The market is right on the test of the future of the crypto world.
Just to give you a simple outlook about the ragne of Bitcoin fluctuation, extending the two solid lines, I found the intersection which says 8900 dollars.
Thus my strategy for the time being is to buy up Bitcoin unless it is not below the bottom line.
I hope this is helpful for you and if you like it, please subscribe to my trading view.
