Bitcoin Bearish Short and Medium Term; Long-Term Bullish
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Current View: Short-Term: Bearish, Mid-Term: Bearish, Long-Term: Bullish
Bearish MACD Crossover signaling a possible move down to $8000. Possible double bottom at $6,000, but if we break below, we can possibly see $4000. If we break above, there may be a chance at a breakout to around $16,000, but I believe that would ultimately be a bull trap.
As we are in a bear market, I give the benefit of the doubt to the bears and remain bearish, though I am personally waiting for more confirmation in the upcoming days. If we can break above $12,000 and form a strong support level, I believe that would be an opportunity to establish a long position; I would be looking to sell at the $16,000 level as I expect strong resistance. If we break below the previous bottom of $6000, I believe we can see a move down to $4000.
Although I am bearish in the short and medium terms, I am bullish in the long-term. I expect this bear market to last longer than the 2014 bear market and end around mid-2019 to 2020. The next bull market should be longer and stronger than the previous bull market; I can see Bitcoin at a trillion dollar market cap with a valuation of over $100,000 to possibly over $300,000 per Bitcoin.
Good luck trading,
Eddy Yang
Bearish MACD Crossover signaling a possible move down to $8000. Possible double bottom at $6,000, but if we break below, we can possibly see $4000. If we break above, there may be a chance at a breakout to around $16,000, but I believe that would ultimately be a bull trap.
As we are in a bear market, I give the benefit of the doubt to the bears and remain bearish, though I am personally waiting for more confirmation in the upcoming days. If we can break above $12,000 and form a strong support level, I believe that would be an opportunity to establish a long position; I would be looking to sell at the $16,000 level as I expect strong resistance. If we break below the previous bottom of $6000, I believe we can see a move down to $4000.
Although I am bearish in the short and medium terms, I am bullish in the long-term. I expect this bear market to last longer than the 2014 bear market and end around mid-2019 to 2020. The next bull market should be longer and stronger than the previous bull market; I can see Bitcoin at a trillion dollar market cap with a valuation of over $100,000 to possibly over $300,000 per Bitcoin.
Good luck trading,
Eddy Yang
註釋
Watch my Bitcoin Price Forecast for 2018 here: m.youtube.com/watch?v=fqMH89ywb9Q註釋
As predicted, Bitcoin continues its bearish trend in the short and medium terms, albeit a longer time frame than I predicted. Possible entry at RSI < 30 around 4k - 2k. Long-term bullish.
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