Long term analysis of BITCOIN - Technical ONLY

12 lug 2019

After a 2018 marked by an all-time high 19,666.00 followed by a plunge of nearly 85%, Bitcoin consolidated in early 2019 before breaking upside in April 2nd. Thus, the crypto set new supply and demand levels while going through a buying pressure. However the loss of interest is inducing rejections and exhaustion at the current demand level. The security remains optimistically bullish, but would need an additional push to break the current level and test the all-time high 19,666.00.

Possible targets: 14,000.00 (+17.7%) and 19,666.00 (+66.0%) or 4,000 (-48.1%) in case of a bearish confirmation.

Advice: Stay bullish and buy any low point while we don't break down 8,000 level.