Analyst: Bitcoin Bulls Are Back, Critical Move Expected Soon

There have been two differing opinions on where Bitcoin prices will go next. Some are calling for an imminent pullback and possible final capitulation while others are confident that this is the beginning of the new bull market and it will be all up from here on.

Major Similarities From 2015 Trend Reversal

Analyzing previous chart patterns and market movements offers a great insight into what could possibly play out next in the current situation. The charts from the 2014 – 2015 bear market and final trend reversal could almost be overlaid onto what has happened for the 2018 – 2019 situation.

There was a final capitulation in August 2015 when Bitcoin prices broke down to $200 for the second time that year. This marked a slump from a previous peak of over $1,100 which is around 82%. This time around the slump in December dropped prices to $3,200 which is around 84% down from the all-time high, all very familiar territory.

Since then we could almost say that the trend has reversed…

Read Full Story : NewsBTC

2019-04-10 08:30:04

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