The next Bitcoin BTC price movement prediction.
The channels i've drawn up clearly show where the price action should be for long term historical representation as well as healthy future movement. Following the peak formed at the $11,500 area as of 11/29/2017, the initial selloff has shown clear signs of a reversal. A new downtrend channel is now in the making and shows to retest the primary channel before a significant move higher.
The pennant formed shortly following the selloff from 11.5k to 9k, has broken out in a bearish manner thus fully confirming the downtrend movement.
I predict a bounce off in the $7000 to $5000 range now. Who knows when that will be is still a guess.
The pennant formed shortly following the selloff from 11.5k to 9k, has broken out in a bearish manner thus fully confirming the downtrend movement.
I predict a bounce off in the $7000 to $5000 range now. Who knows when that will be is still a guess.
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