Hello Steemit Members,
Today I have a short term analysis for bitcoin. I have made this prediction yesterday on trading view and decided to post it on steemit.
I have made a post a week ago with my thoughts of bitcoin going below 10k. I had said there's a good chance it'll hit 6k before recovering. That prediction came true. Now, where will bitcoin go from here? That's a question everyone is wondering. Well, a bounce like this shouldn't make you all think bitcoin is going to oblivion. We need to get through a lot of grim ups and downs still. 5k is still a possible scenario, and so is 3k. Do I think that will happen though? It's starting to look like it won't but it's to early to tell. I expect bitcoin to come back somewhere in the 7k level and make a higher low. Where do I see bitcoin going short term? I think 9.5k is a good level. near the 400 SMA on the hourly chart. It could start dipping before that, but if bitcoin can get above the red 200 sma on the hourly chart, I would say a short term recovery to 9.5k - 10k and possibly even 10.8k - 11.2k. These levels will act as resistance.
Every comment and up vote is appreciated.
Thank you!
JRcrypto
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
