Bitcoin Fails To Uphold ATH Trend, Support Predicted at $5,400

in #bitcoin7 years ago

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Bitcoin's recent week long rally has failed to meet or break the trend from around 19k. This means further downward correction is imminent. All technical indicators point to this continued down-trend as well.

Here are a few of the recent events that lead me to believe the monthly bottom could be below $5,400:

  • Recent announcements of various scrutiny/investigation on a number of different exchanges that offer trading in the US

  • The US 'tax day dump' to cover capital gains

  • Alt-coin pump and dump schemes (Verge/ XVG) as a result of 'questionable' partnerships

  • Global economic tensions with both Russia, China, and potentially the Korea's.

  • Ensuing natural disasters that may cripple internet infastructure

  • Russian agents attacking various internet faucets in the US

Its a dark time, indeed.