Since start of year Bitcoin price is in a constant decline for weeks. From testing bottom at $7500 to testing resistance at $11500 it has been a roller coaster ride.
Although looking at the charts the story is still not in the bull favors although bears continue to exhasut. The recent Bitcoin price push up to $11700 didn't break the Bitcoin's downtrend it has been facing for a while and is still looking for another leg up to do so. Coming back to the main topic. So well, will the price finally cross $12000? Well the picture doesn't show a favorable answer
As we can see from the image that the Bitcoin price is moving along the red line and the blank line under it. In order to really push the price above $12000 it needs a good volume and some good momentum which we don't currently have and centrainly not in Feb. The Bitcoin price however is likely to remain above $9000 as we experience the slow end to the downtrend.
It didn't as said :)
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We are likely to see $8800 before $12k.
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maybe , still possible if price is pushed back from the first black line trend :D
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we are probably never see 8800 again.. EVER. if bitcoin hits 30-40 000 by the end of the year, 8800 is history !
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Great post. Keep posting.upvoted
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I think we need more than a week to see Bitcoin at 12.000$.
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just a little more ;)
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Gallop
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It's quite a topic of concern. I keep wondering whether the fluctuations would ever stop.
Thanks for sharing this
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Thanks @shafay for providing your analysis on BTC. But I would recommend that adding some alt coins in your portfolio would be good. Alt coins like VEN, DCR, XLM, DENT, DASH are having 15-20% profit potential in short term.
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welcome , i am loaded on some good Alts :)
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