Since Bitcoin's bounce back from the $6,000 resistance line It has been climbing steady. Or that was the case before we hit another resistance line at $10,000. I was a little worried when the price had a correction back down to the $9,800 range, so I decided to take a look back to the last time Bitcoin was fighting the $10,000 line and see if I could find any similarities with the current trend we are on.
Listed on the chart above is every time Bitcoin has fought the $10,000 resistance line since the beginning of November in 2017. The points that I found interesting were points A and D. As you can see at the start of the breakout point A demolishes the $10,000 line and the price reached a then high of about $11,506. Then the price corrected all the way back down to $9,000. But from this correction came a strong price increase lasting roughly eight days and bringing the price up to roughly $17,054. I see a similar pattern right now at point D and I think that a big price hike is coming.
Thanks for reading my post. If you've enjoyed it or found it helpful in any way don't forget to follow me, comment, upvote and resteem. Thanks again and have an awesome day and good luck with your investments.
*Legal Disclaimer*
Obviously this is just my own opinion and is not fact. You need to make your own choices with your money and this post is in no way financial advice. The purpose of this post is the passing of information and entertainment.
Bitcoin to the moon, what is the highest the think btc could hit this year?
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Sometime this year I think it could be feasible to have a $30,000 Bitcoin. I've also seen some other crazy predictions like $100,000 and even higher. Regardless of what the actual price is going to be at the end of 2018 I feel that the future of Bitcoin and cryptocurrency is very bright.
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I agree, long term target is Moon!
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There are to many people manipulating the market for me to believe any predictions...there are some major players making major moves together soaking up the profits of less experienced investors over the past 6 months.
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