Hi Guys i would like some opinions, in this drop how low can btc go before it starts going up again , any idea what is the resistance or what could the bottom floor be for it ? I was hoping around 40-42k but it seems that it does not want to go below 47k , what do you think ? Thank you
Just as no one could predict how higher bitcoin would go in price; the same applies, no body knows how much lower bitcoin will drop this is a crucial moment when you need your trading strategy to work for you. Do you have one ? Seems and hope does not apply to crypto currency market trading; where are your facts and findings ?
Yups right, no one can know what the highest price bitcoin will reach and how much it will drop in price. We can only predict it. Predictions are not completely perfect to hit the target, but with this ability we can predict where the price will go up and down to what extent. This, can make it easy for us to make decisions for what to do next, stay afloat by placing a stop loss or selling it if it feels like getting enough profit.
Predicting cannot be done carelessly, there are many factors that we can use to predict the price volatility that is happening in the market. One of them is through news that is happening or the ups and downs of the charts. From there you can start to know the movement of your assets, frequent updates about current conditions or problems every day, that will also help. Because predicting before something unexpected happens is very important to anticipate the arrival of a risk that will make a loss to the asset.