Is Bitcoin (BTC) Bullish Or Bearish?
So, a lot of investors and analysts seem to think that BTC/USD is bearish or more blood is about to come. Most of them keep saying, Bitcoin (BTC) won’t go above $20,000 before 2019 or that the price may drop to $4,000 before going up but they rarely explain the rationale behind such statements. The bulls often substantiate their claims with evidence but the bears rarely do this. This is because most bears at this point are trading on sentiment, just like most bulls at the top were trading on sentiment. That being said, there are some bears that make a very good point. At least they have a reason for being bearish and are not trading on sentiment.
One popular bearish view is that the price has to break below the 21 Month EMA towards the end of December just like it did in 2015. They contend that price completes 13 months of correction before dropping below the 21 Month EMA. By that analysis, the price should continue to consolidate till December and then drop below the 21 Month…
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