Feb 28, 2020 BTC / USD 8642,63




Hi guys, hi girls.

When it comes to Bitcoin price, the trend is pretty clear since December 2017. We had a high at 19.5k followed by a lower high at 13.7k in July 2019, followed by another lower high at 10.5k in February 2020.

What saved us in December 2019 was the strong 6.4k support, but will it hold forever?

A possibility would be to see a very stable year between 6.4k and 10.5k, but another possibility would be to break below the 6.4k support. After all, we saw in 2018 that this support wasn't strong enough to counter a clear downtrend. And unfortunately the market is bearish right now, so I am afraid we will see 6k this year, probably 5k as well.

Next major supports are 3.5k and 1k. The latter is unlikely to be seen again, the former who knows?

Likely next move (IMO): back down to 7.5k area, then 6.5k area. Price rebounding several times just like we saw late in 2019, but not enough power to see 10.5k again for this year. That's why I believe breaking below 6.5k is pretty likely within a few months.

Good news for those who want cheaper coins! (this is my opinion and not financial advice)




PS: forget about the halving, the herd thinks it will boost Bitcoin price, the herd is usually wrong.