As I told you in my last post on Bitcoin, there was an increasing likelihood that the rising black trendline would break, because of how many times it was hit. Now, my warning has become a reality, as BTC has broken the rising trendline. As you can see, Bitcoin fell all that way down to the "Critical Support" level, and has bounced slightly. This is probably going to be my final warning before this thing breaks. So here we go... If the Critical Support is broken, BTC is going to fall like a dead bird from the sky. As I've said in many prior posts, BTC's major downside support is at $11,200 but a rapid slide could send Bitcoin below $9,000. Red Volume is surging on the chart, confirming the breakdown, and the MACD is having a heavy bearish crossover. You want my honest opinion? I think the nail is being hammered in this coffin as we speak. Hate if you want. I call it how I see it.
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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
@luana, Smart girl. Thanks for commenting, Luana! =D
KemetB
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The question is, will the whole market go with it or will something like a Coinbase addition result in btc tanking while others rise. Until btc closes on a 4hr below the trend line it could still head up from here. This support area has become pretty strong for btc so I won’t be surprised if it runs up from here. Of course if it falls below the critical area that you’ve drawn it’s looking pretty gloomy.
cprime
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i think in the long run we will all be better off if king is dead and pooped his last poop. because when that happens, as i tend to agree with Sir Poop here, the next logical questions are 1) can the others exist? 2) if not bitcoin, what is the standard every other coin is measured by? my answers are 1) yes! probably much better because they wont be anchored to a pretty poor coin at this point (in comparisons) with high cost of mining. (see Chinese miners migrating to india for cheaper electricity.) 2) all of them....they will stand independently, able to withstand poop splatter, hopefully. More likely, IMO the next champ is going to be Ether (look at who is winning recent market cap cains against BTC), but it fill be a "paper champ" and easily trade the top spot with a few other coins. LTC is the one i worry about. if Bitcoin goes down, does LTC go with it? or the contrary, does LTC become the new bitcoin replacement... interested in your poopy thoughts, Mr. Cannon.
Timothie_Roggers
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I think January bonus money will mitigate this crash significantly. Everyone calling for the death of the big daddy always forgets about the lightning network!
(not saying btc will be dead but the 'secret weapon' might not turn out to be the 'solution' as sold by the narrative)
Investor123
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Bitcoin is dead! Fundamentals confirm it as well. There are simply so many better options now. Bitcoin is like the grand dad coin. He lived a good life and spawned some beautiful children, but is going to die sooner or later!