A week-long sideways trend to a tragic end: After another failed attempt to overcome the since February, followed a downward trend, the Bitcoin exchange rate now in one direction. And the is down.
Dr. Philipp Giese
14. November 2018 share Facebook Twitter LinkedIn xing mail
to Give the bulls finally? According to the sideways trend of the last few weeks, and the failed attempt to overcome the downward-pointing Triangle Pattern, fell the price of Bitcoin on the evening of 14. November under $ 6,000. Since the end of June, Bitcoin was no longer so deep. With this course, fall a fundamental Support Bitcoins, the 5.800-US-Dollar-line, and more than just tested.
It’s not looking good for Bitcoin. What does this mean for Bitcoin? We consider the long-term development, that is to say the weekly chart:
We see that the rate between the moving average MA20 and since November 2017 current Support has forced. In any of the directions he needed to escape now – and in the case of the falling volume, the only obvious direction was “down”. The course should not catch again – and testing of course level of 5,600 US dollars speak currently rather negative language – that would be the next Support is at about 4,400 US dollars to 3,500 US dollars and 2,500 US dollars.
Bitcoin adé? No consolation, but a back and side view
Just about 3,500 US dollars, if you take the bear market after 2014, as a comparison, it is quite possible that you would have is a Drawdown from the all-time high, with the bear market from 2014 to 2016, comparable. Other analysts, such as Murad Mahmudov parts of this Thesis:
6/ In the absolute worst case scenario (too much, even in my view)
Hope for the best but prepare for the worst.
“The more you sweat in peacetime, the less you bleed in war.” – Chinese Proverb. pic.twitter.com/tk9OuyGzPI
Murad Mahmudov
