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Bitcoin price analysis forecast

Bitcoin price analysis forecast


Bitcoin looks like he found support at 6100+_ price level  although  he didn't manage to cross 8600$ after  last  recover and trade again near 6000 $  - lows level in last June bitcoin traded below 6000 $ -  it was expected - look on Bitcoin price 2018 vs Chinese stock bubble 2008 part 2



 Told you a long time ago my exception for the bitcoin

shortly: "“Chinese stock bubble of 2007 wiped out hundreds of billions of market value
 Chinese shares have tumbled more than 8% in one day in November 2007 -Major indexes had their largest one-day drop ever
Shanghai Composite Index lost 8.5%, to 3,725.56 points.
Stocks fell across the board, with 2,247 companies falling, leaving only 77 gainers.
More than 1,500 shares listed in Shanghai and Shenzhen dived by their 10 percentage point daily limit, led by index heavyweights
 Sudden fall wiped almost a third off the value of shares during the course of a few weeks.

The fall was caused by rumors that the Chinese governmental economic authorities were to introduce varying policies that would restrict foreign investment – from capital gains tax to raising interest rates to a clampdown on speculative trading with borrowed money”

Bitcoin price analysis
Bitcoin price


Technical analysis:
pay attention to 7800$ price level! – closed above this level will send bitcoin above those levels could send bitcoin up again over the last recording-term trend forecast moved is still down as long as 8600$ will not break up again!
Break below 6100$  on weekly basis will send bitcoin to 4800 $ while a break up again above 8200-8600 those levels  will lead bitcoin to go higher again
Break down on weekly basis 4400+_ $ price area will send bitcoin to 3200$ while staying above could send it back to see new high
As long as bitcoin price below 8600 the trend is bearish
Break below last lows (6000$+_) would send bitcoin to 4800+_
While if we are a witness on the same move as happening in Chinese stock the last post I mention that in the market we have 2 option :
The first one similar to 2013, second 2014
If the case is similar to 2013 then we should expect that bitcoin would not cross up 8600+_ price level this time, while in the other hand if its similar to 2014 then we should expect to see bitcoin going above 8600 and start a big move up to 14-15 k  for my opinion


Bitcoin chart analysis
Bitcoin chart


This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice