The end of Bitcoin's rise; a technical analysis. Prepare for the crash! by drakos

cryptocurrency · @drakos · Mar 23 '20 (edited)

$4.96

The end of Bitcoin's rise; a technical analysis. Prepare for the crash!

View this post on Hive: [The end of Bitcoin's rise; a technical analysis. Prepare for the crash!](https://hive.blog/@drakos/the-end-of-bitcoin-s-rise-a-technical-analysis-prepare-for-the-crash)

👍 fyrstikken, minnowsupport, beowulfoflegend, bola, banjo, ubg, vcm11, capgains, senor, filmonaut, tb0t89, rtdcs, drakos, zukka, xerxes612, juliebush, perfect-trader, rndness222, cryptohustler, digdaga

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@vcm11 · Jun 14 '17

I think we will bounce from $2400 if wrong then $2300 I would say.

👍 drakos

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@cryptohustler · Jun 14 '17

More like 2200

https://steemit.com/eyeson/@cryptohustler/bitcoin-taking-a-big-dive

👍 vcm11, drakos

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@drakos · Jun 15 '17

The price can vary between the exchanges. But to stay with the Coinbase price, the 61.8% fibonacci extension is at $2300. If the price breaks below that, it can go down to $1855, $1580 or back to $1100. From there, it can enter a long consolidation before going up or down again.

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@drakos · Jun 15 '17 (edited)

Well bitcoin dipped down to $2050 this morning, ethereum to $260, not a good sign. I'm afraid the downtrend isn't over yet...

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@senor · Jun 15 '17

Very good analysis here. Great info.
Followed.

👍 drakos

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@drakos · Jun 15 '17

Thanks, glad you liked it :)

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@hatchi · Jun 15 '17

$4.23

<center>**I am just curious and not a trader, but aren't these types of analysis tools typically put to work on stocks?
With the situation currently, we are still trying to decide whether BTC is an asset or a currency, and I still think there will be unpredictable price movements.
Peace**</center>

👍 cryptoctopus, xeldal, jesta, grandpere, ervin-lemark, cloh76, drakos, redpill

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@drakos · Jun 15 '17 (edited)

$0.04

The same analysis applies to any market, stock, asset, commodity, currency. The big sharks and whales (feeding on the smaller fish) are making tons of money off the cryptocurrencies, they do not rely on "unpredictable price movements", they analyse before taking any position.

👍 hatchi

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@hatchi · Jun 15 '17

$0.04

Cool, I like to learn.

👍 hatchi, drakos

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@digdaga · Jun 27 '17

$0.89

Hello @drakos and you are my new technical analysis hero. While i disagree without you on bitcoin returning to 1000 and eth to 100, i still like your charts and analysis. Take my upvote even though i was not going to vote for anyone untill i fully charge my steem power as it drained out.

👍 digdaga

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