Price graph and text asking what the future has in store for bitcoin?

What is in store for Bitcoin? Will it stop falling in price, let's take a look


Over the last few days the price of Bitcoin has decreased in an alarming rapid rate. And this has ben the source of concern for many. The concern I find mainly is over if Bitcoin will stop falling and start a new Bull Run, or if it will continue to fall further. Let us take a look and see at the charts and try and figure out what the future may hold for our deer beloved coin.

If you remember, a few days ago I did I did a similar thing. Where I took a look at Bitcoin to try and figure out if the signs where indicating if the near future would have a Bull- or a Bear Run in store for us. If you want to read more about that you will find that post here: 

https://www.publish0x.com/things-of-note-and-other-interesting-stuff/will-the-bull-or-bear-win-the-fight-for-bitcoins-future-xjokkkr

Let us now do a similar thing and try and see what the signs are showing up. If you take a look at the three day chart for Bitcoin you will see an alarming sign that is fast approaching. And that is a Major Death Cross. And compared to the one day chart, on the three day chart this Death Crosse has only happened two times before. I prefer to look at the three day chart instead of the one day chars because on the one day chart three has been a lot of false indicators when it comes to the Death Crosses. But not so on the three day chart. This is why I feel that the indicators there are a lot more solid.

What do the previous two Death Crosses tell us. The previous one happened in 2018. And this was followed by a very rapid decrees in price. The first one happened way back in 2014. And this also was followed by a decrees in price. The main difference was that this decrees was not as rapid. So it took longer for it to unfold. Unless this Death Cross is a false one. Then it looks like we are in for a continued fall in price. But if this will be more a more rapid fall or more of a graduate one. That is where things is more unclear.  

If we look at the two previous crosses we do find that the closest one, in terms of behavior, is the 2018 one. This is the one that had a big plummet in price after the cross happened. Both the current one and this 2018 had similar moves and fluctuation in price. And the 2018 happened 21 days after we breached the lower red line. And if you now look at the charts we are exact in the same scenario. We just breached the lower red line. And the prognosis calls for the cross to happen 21 days after. Of course this is not a guarantee, that the exact same thing will happen and the price of Bitcoin will fall of a cliff again. But do not be surprised if this is what is about to happen in the near future.

Should you then sell your bitcoin, seeing that a fall in price almost is inevitable? To that I would say, no. This is a buyers market. And what do I mean by that? When the masses hear that we are in a decline. Their instinct is to sell, sell and sell. The people however who are the once to profit in times like these are the buyers. This is because if you want to sell, you already should have done so. Back when the price was much higher, at 50k or higher. Now instead is the time to buy. I know this sounds strange and intuitive. But in the long run these are the people who profit greatly from markets like this. Weather it is stocks, crypto or whatever.

What is your thought on the future of Bitcoin, have we reached the bottom now? Are we gearing up for the next great big Bull Run? Have I completely misread the charts? Pleas share your opinion on the subject. I do hope that you have found this post to be of use. Weather this is informational or entertainment. I am equally happy in both cases. And in case it was not clear, these are just my thoughts on the subject and not financial advice.

Until the next time, as always take care and have a great day. And if you want to support me and the content I make pleas consider following me, reading my other posts or why not do both? You can find them in my blogs here and here.

 

See you on the interwebs!

 

 

 

 

 

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Patch
Patch

I am a patchy reader and writer of words...


Things of note and other interesting stuff
Things of note and other interesting stuff

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