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Author Topic: What's the lowest we'll see from here on out (3/15 and beyond)  (Read 237 times)
BitHodler
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March 18, 2019, 08:38:57 PM
 #21

Going to $5K doesn't mean anything, certainly not the start of a bull market. That could just be the top of long term trading range or the top of a bull trap. See November 2014 for a potentially similar move. People will think it's the start of a bull market and then get bull trapped.
It's possible, but people seem to be so focused on their perfect chart bottoms, that they might get trapped in themselves. Back then we had nothing going for us while today that's different.

On the other hand, currently it seems that we're stuck below the previous resistance around $4200 which might indicate that the little bit of momentum we had is fading. Typical bear market behavior that is.

Regarding OP, this could very well turn out to be a very long lasting bear market. Higher prices means more money needs to flow into Bitcoin in order sustain the current levels.

Based on that it's difficult to say, but my best guess would be $2000-$2500 assuming the bottom isn't in yet.

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March 18, 2019, 08:46:32 PM
 #22

As per my analysis. Bitcoin has sort of done with its great downtrend which lasted for more than an year. But this doesn't means that there are good days ahead. As per my analysis bitcoin has now become range bound. Which means it might continue to travel into a sideways trend until a big momentum arrives which pushes it upwards. As of my analysis range of $3300 to $4500 would be the new see-saw for bitcoin and once we reach either edge of this range with a high momentum it is difficult to say it will break it.

$4500 seems like a very odd choice. we've been consolidating below $4200-4300 for 3 months now. if we break above those levels, there's gonna be a big short squeeze as all the bears buy back in. that'll be a much bigger move than $200, so we won't stop at $4500.

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