BTC - We will go test the long term downtrend line around 8000$

in #bitcoin7 years ago (edited)

Hello all,

Yesterday I was showing you that chart :

BTCUSD.jpg

Here is the current chart :

BTCUSD.jpg

The market decided to take the bearish direction and so as predicted we will quickly go test the long term downtrend line which is a support line.

I expect a reaction of the market on that level. We could break it shortly but it is important that we go back upper of that line quickly.
If we break it with volume, the drop will accelerate and we could see a mini crash on the BTC so that line is very important to hold.

I wish you massive profits,
Cryptopassion.io

Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

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Let's hope it will hold, there is really nothing wrong with BTC fundamentally, so it should. But you never know in crypto. Long term this is the most bullish period ever, so the lower the price goes the better to enter the market!

Will it takes time to go uptrend again?

Power consumption? Transaction times?

@mysearchisover Your answer: Lightning and POS.

Point of Sale? Is Lightning fully operational? I've read that Lighning might not be able to save Bitcoin.

POS = proof of stake, another potential. Lightning has been deployed on mainnet already. At the very least, it will solve the high TX fees and speed. http://lnstat.ideoflux.com/dashboard/db/lightning-network?refresh=5m&orgId=1

These dips are buying opportunities for the smart investors. There's a finite amount of BTC, accumulate what you can and HODL
Screen Shot 2018-01-29 at 8.05.28 PM.png

Thanks dear discuss about the cyptocurranec.

Is this literally a once in a blue moon opportunity? Blue moon was yesterday though

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Upvoted and resteemed. Keep up the good word.

If it hits 8k i'm def buying in