- The "Critical Support Line" WILL be reached and the price WILL bounce off of it.
- The faster this line is approached, the higher the chances for it to break
- The next support line is some $3,500, which is the bottom established at the beginning of the year 2019, followed by the $250 range which was the year + long term bottom during 2015.
My bet is on red arrows.
Such a negative outlook is based on the fact that during the last couple of years the price was VERY heavily manipulated (pumped up) without any significant advances of the actual platform usage! In my opinion, this fact becomes more and more obvious to the public, which, in turn, will negatively affect the "hype", the main driving force of today's cryptocurrencies market.
- The faster this line is approached, the higher the chances for it to break
- The next support line is some $3,500, which is the bottom established at the beginning of the year 2019, followed by the $250 range which was the year + long term bottom during 2015.
My bet is on red arrows.
Such a negative outlook is based on the fact that during the last couple of years the price was VERY heavily manipulated (pumped up) without any significant advances of the actual platform usage! In my opinion, this fact becomes more and more obvious to the public, which, in turn, will negatively affect the "hype", the main driving force of today's cryptocurrencies market.
註釋
Just checking in some half a year later:It looks like that "critical support line" has been reached in the mid-March of 2020 and it happened rather abruptly.
Notably, it is kind of "spooky" how accurately this sharp drop coincided with the very first red arrow..., as well as with the COVID "scare"...
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