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/biz/ - Business & Finance

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8709494 No.8709494 [Reply] [Original]

No sign of a reversal in sight. I see this going down to $4k, if not $2500.

>> No.8709541

Cool bro.

>> No.8709613
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8709613

hurr bitcoin go down to $4k

>> No.8709660

>>8709494
As long as it doesnt just bottom out at 6k ffs who wants that. Im gona need at least an order of magnitude from ath by EOY. Dont care in what direction.

>> No.8709688

>>8709494
>No sign of a reversal in sight.
Coindesk literally posted an article today about how BTC moving average bounced off the death cross

>> No.8709728

>>8709688
which means exactly nothing

>> No.8709831

>>8709688
>>8709728
>I don't know where this guy gets failed death cross or why any analyst would even refer to the 50 200 day cross as a death cross. The computed 200 day moving average is currently slightly above 7600 and the 50 is below 9400. There is now 100% certainty that the 50 will cross the 200 in the coming weeks. Currently, the Bitcoin price is working off and oversold condition with support of a bearish diamond continuation pattern right around 6000. If this lower support breaks, the Bitcoin price will quickly collapse to 5000 with a projected target of 3000. The ATR is now around 770 and falling which strongly suggest buying is drying up. When the oversold condition is finally worked off in the coming days, I expect a retest of the lower support of a bearish diamond continuation chart pattern. In conclusion, I now rate the Bitcoin price a strong sell with any dip buying upside potential limited to the 7550 to 7600 right at the computed 200 day moving average.