RE: Bitcoin Still Seeking a Bottom [Bitcoin Price Update 2/5/2018]

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Bitcoin Still Seeking a Bottom [Bitcoin Price Update 2/5/2018]

in bitcoin •  7 years ago 

All signs point to lower prices for an extended period of time.

Sorry I'm not familiar with trading/TA, when you say extended period what should I be thinking? Hours/days/weeks?

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7 years ago by

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      ·  7 years ago 

    The thing with trading is that the future is unknowable. I would say at least weeks below $10,000, if I were to guess. The last time the 34 EMA crossed under the 89 SMA, we were in a 2 months consolidation lower before breaking out. This was August 2016. However, during the bear market of 2014/2015, we stayed low for 18 months before breaking higher. Price will tell us when the bull is back. But that's not now, and not for the foreseeable future (weeks), in my opinion.

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