I made this chart using the fundamentals of chart analysis to demonstrate my prediction of bitcoin price in the next 2 to 3 weeks of Sept 2017. Review my chart below:
As indicated, I established two support lines showing my predicted price ranging from $3600 to $3800. My reasoning for this is based on FUD of the pending China ICO and exchange regulations. As a consequence, more people (esp. Chinese because they know their government is not fooling around as China is a protectionist state) will continue selling, BTC price is predicted to decline towards my demonstrated support lines.
Once my support lines are reached, demand will overcome supply and prevent BTC price from falling further. At this point, I predict BTC price will rise and we might see a new ATH in bitcoin price as the tumultuous scene in China is settled.
THIS IS NOT A FINANCIAL ADVICE, INVEST AT YOUR OWN RISK. BEST OF LUCK TO PEOPLE WHO PERFORM DUE DILIGENCE & RESEARCH.
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