Short

BTC Price actions prediction for Q1 2018

Updated

My first post so feedback is much appreciated. Keeping it simple here and trying to interpret the market paired with a basic Technical Analysis ,I dont think we're going to see a break out of this bear trend we've been in since the ATH -0.19% . Be patient and dont buy over 10gs. I'm of the belief that any price action in the past 90 days over 13k 3.14% was "hype" money of people flooding the markets and saturating it thinking BTC -1.09% was to jump to 100k and whatever else you hear on youtube/reddit etc. I think BTC -1.09% major investors are trying to gain the public's confidence by reflecting a steady price action in general. Therefore the range is going to be between $8,000 & $13,500. I think we see the price action stay in this range through Q1 2018. More to come in March.

Note

BTC is treading the bottom of the Bull trading zone within +/- 5% for the past 12 hrs. This zone also happens to be the 38.2% retrace line towards its ATH [Disclaimer - being the conservative trader i am i started 100% retrace level around $19,000.] Now although it has broken this retrace line, it isn't doing so in a way that builds confidence [low volume, and more importantly lots of swing trading - buying and selling relatively cancelling each other out] I think its going to come back down into the Bear zone [Red lines] over the next 36 hrs. Again supporting my trading range of $8,000 to $13,500 AT MOST. IT HAS TO break the next resistance level in the next 6 hrs [$11,700] or I'm calling a BUST on a potential bull trend. In my opinion, A guaranteed downward trend through Mar 14. Hope my opinions help keep people from being impulsive. I typically am a conservative when it comes to short term [1-3 week] trading cycles and am in no way shape or form lending trading advice, just my opinion in hopes to inform others for educational purposes only.

mattieh14

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.