What is the bottom of Bitcoin prices like at its peak? The answer of the trader
Source:
Trader under the name Jack Sparrow recently posted on his Twitter quite an interesting prediction regarding the future price . As a starting point he took the results of the technical analysis of charts cryptocurrencies over the period December 2017. According to the analyst, they are a direct contrast to the current behavior of the asset price.
theWhen Bitcoin will bottom
Jack Sparrow is not willing to say that the bottom of the cryptocurrency accurately formed in the area of $ 3,000. However, the patterns on the chart in December 2017 symmetrically coincide with the movement value of Bitcoin over the past two months. To see this, it is sufficient to flip one of the graphs. A similar trend is observed even in commercial volumes.
reversal pattern?
This $3k bottom looks awfully symmetrical to the $20k top…
Just saying
— Bitcoin Jack (@BTC_JackSparrow)
The Trader also said several positive factors that may be harbingers of the coming bullrun:
the- previous bottom was formed around the same number of days to halving; the
- support moving average 200 MA (at 1-week chart).
The coincidence of growth rates with the cycles of halving coin; the
Recall, the last time Bitcoin changed the trend from bearish to bullish in the range from 57,7 to 70 percent of the extracted blocks with halving 2012. Now, the cryptocurrency was held 62.4 percent of the way from the division of remuneration 2016. In other words, BTC will find its bottom in the coming months, if not weeks.
We need to pay close attention right now. If BTC falls about 5% lower to about 3300, it will be testing the ever important weekly 200 MA, which is where we bottomed on in January, and what forced the last bear market to bottom. If we close below that, things will get nasty.
— MAGIC (@MagicPoopCannon)
But other well-known personalities in cryptosphere there are concerns about the future of Bitcoin. Previously CEO Vinny Lingham , «cryptoseal will go nuclear», if the main cryptocurrency drops below $ 3,000. According to him, this mark is an important psychological resistance level for most players in the market.
In order not To miss the next bullrun, be sure to subscribe to our .
Recommended
the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...
Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam
co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...
The Ethereum is a cryptocurrency Scam. A new report Chainalysis
When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...
Related News
VEB and the Grozny mayor's office transferred the housing sector on the blockchain
In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...
Hacker 1337. How to hack Etherscan not to cause any harm
Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...
The developers of Monero: Bitcoin privacy is a fundamental right of every human being
the Issue of privacy for many years been a disappointment to opponents of cryptocurrencies. Allegedly most of them, it encourages illegal activity and tax evasion. However, proponents of coin argue that this is just the inherent r...
Bullman close: Fidelity will launch custody services for Bitcoin in March
Us investment firm Fidelity, under which management is more than 7.2 billion dollars of assets, will launch custody services for Bitcoin in March. This was stated with reference to unnamed insiders. All the major players investing...
Wikipedia recommends. Monero, catching up with Bitcoin, Ethereum and XRP in popularity
Now one of the most popular cryptocurrency sensitive yet demonstrates a long fall. Once included in the top ten cryptocurrencies, Monero now moved to 13th position in terms of market capitalization. In addition, she has lost almos...
Retired from Udmurtia have given the fraudsters 3 million rubles for investment in Bitcoin
the Victim was an elderly resident of the village Game. According to local police, fraudsters managed to fraudulently get the woman transferred to his account about three million rubles. The money was supposed to go for buying . W...
Cryptolead. Users around the world staged a relay race Lightning-payment
One of the users of cryptocurrencies jokingly launched a flash mob with a payment within the network of Lightning, but things got out of control. According to the rules of the flash mob every recipient of a payment adds to it 10 t...
Code release ZelNodes very soon. How to get node ZelCash?
To release the code ZelNodes left one day, so the project team has prepared a concise guide for those who want the General outline to see the development process. Detailed instructions for installing scripts, setting up nod and vi...
Expert: for the growth of the stock market have to worry about a mass closing
a Long «kryptonim» causes the death of most kryptomere. Sure the former Manager of the wall street Travis Kling. The expert made this statement just after the close of the trading platforms Liqui, which ceased operations...
How to withdraw a billion dollars from cryptocurrency to Fiat? The response of analysts Chainalysis
according to the latest report by research firm Chainalysis, only two groups of hackers stole more than a billion dollars in bitcoin, over the past few years. The addresses and transactions, the experts were able to determine that...
People will be giving cash for the cryptocurrency? Japan is going to figure it out
the Japanese citizens have a wasteful habit: they pay cash. The majority of payments in the third largest economy in the world consist of paper bills and metal coins. This distinguishes Japan from China and South Korea, dominated ...
The issue of Ethereum fell by 25 percent. What will happen with mining?
the Daily remuneration of miners decreased by about 25 percent in anticipation of hard forks Constantinople at the end of February. Now the miners are starting to feel the first signs of bomb difficulty, which increases the genera...
Full anonymity: Litecoin appears sensitive transactions
Creator Charlie Lee for quite a long time attracts attention of the community to the problem of interchangeability of cryptocurrency. In a recent interview Whether the Crypto Insider said that confidential transactions will improv...
New drop: Ethereum may again fall below $ 100
On the chart embodies one of the worst scenarios — the cryptocurrency has broken several support levels and fell to almost a hundred dollars. Now bears have a strong advantage in the bidding, so soon it may break below $ 100. the ...
Five keys: who has the most authority in the development of Bitcoin?
During the last session of answering questions the author of the book «Mastering » Andreas Antonopoulos told about the main developers of Bitcoin and on the spectrum of their powers. Andreas started with a definition of ...
The CEO Civic: if Bitcoin probet level of $ 3,000 cryptoseal will be nuclear
Yesterday, the cryptocurrency are not explicitly mentioned. The aggregate value of all digital assets fell from 121 to 111 billion in just a few hours. It is suspected that this is due to the loss of grip of bulls. Immediately aft...
Easy money: Chinese investor paid 100 BTC for the selection of an ideal place for a mining farm
for that month of cryptocurrency miners are suffering from the collapse of the markets. Even the undisputed leader of the stock market fell below $ 3,500, which once again we see headlines about the 80 percent drop from a historic...
Sold: ICO BitTorrent was a complete sellout in 15 minutes
last year CryptoStream under the leadership of a young Justin Sana bought the company BitTorrent. Then the management decided own native cryptocurrency BTT. The holding of ICO was scheduled for January 28, so a speedy completion o...
Expert: Bitcoin bottom is near — the chart says about the imminent change of trend
At the moment is trading just below the important support level in the area of $ 3,500. Cryptocurrency is under constant threat of a new drain, the downward movement of the price of BTC is accompanied by a strong decline of the re...
How to increase the profitability of mining? The response of the developers Bloq Labs
Organization Bloq Labs introduced the beta version of the software, designed specially for the miners. The Titan needs «crank up» equipment for mining cryptocurrency. Co-founder of the Bloq Jeff garzik's announced the co...
Comments (0)
This article has no comment, be the first!