If you are a Bitcoin fan or looking for the next opportunity for a Bitcoin rally, you may not have long to wait before a price breakout takes place. Our research team, at www.TheTechnicalTraders.com, believes a price breakout may occur before the end of 2018 – the only question is will it be a breakout rally or a breakdown crash before the next mega rally?
Cryptos and, in particular, Bitcoin has increased in popularity and adoption over the past 24 months across the globe. Recently, Citigroup has announced new technology making Crypto transactions more secure and reducing the risk of such transactions. Additionally, Circle recently announced a US Dollar based Crypto-currency that is backed by Goldman-Sachs. News from Europe is that the EU has been urged to adopt common Crypto-Currency rules that will fuel more attention and enterprise on developing suitable Crypto solutions for the European markets.
All of this plays into our research that a breakout/breakdown is inevitable and it is just a matter of time before this coiling price consolidation “apexes” and expands.
This chart shows massive breakdown washout below $6000 taking it back to prices before crypto became popular in early 2017.
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If you want to learn what we believe will be the next big move in the Crypto markets, then visit www.TheTechnicalTraders.com to learn more. Our proprietary modeling systems are clearly showing us what we should expect over the next few weeks and months. As a member, you will have access to this research and benefit from our Daily Research Videos.
Chris Vermeulen