Bitcoin has broken below the $3,250 support to new 2018 lows, something I’ve warned about in my last few updates. I believe a drop to at least $3,000 is now likely.

The only thing standing between bitcoin’s current price and $3,000 is the 200 Day MA on the weekly chart. Many have been hoping for a bounce at this level…something we have yet to see.

In today’s video analysis I discuss, where price may be heading next, market psychology, where the bottom might be and so much more. I hope you find it helpful.

Video Analysis:

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!

Workin

Disclaimer: I am NOT a financial advisor and this is NOT financial advice. Please always do your own research before investing. 

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Responses

  1. Infosion

    Thanks for the update!
    We will see how far the bottom goes, but as you said: The lower it gets the more likely new money/people/interest will be coming in … So I`m also not that pessmistic about the future. It’s more a question of when than if prices will all go the flipside again

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    1. Workin2005 Post author

      You’re exactly right @infosion…it’s a matter of when. This time next year, I believe bitcoin will be at all time highs. In the short term however, I feel we’re likely to see lower prices. Thanks for stopping by my friend!

      (1)