Will Bitcoin Return To $3,000 Again Before The Bitcoin Bull Market?




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In today’s Bitcoin technical analysis, we discuss the potential for Bitcoin to return to $3,000 and set a double bottom. We look at Bitcoin technical indicators, and Bitcoin chart patterns to make a prediction about how Bitcoin will move over the next few weeks. From there we discuss the ramifications of Bitcoin retracing down to $3,000, and why a Bitcoin $3,000 double bottom is actually extremely unlikely.

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28 Comments

  1. I do believe that it would be hard to break the $3000.00 support in a perfect world. The most important factor has been left out though…. The bid boys are going to manipulate the market so they can buy more then the bull run will begin. I'm No expert but I'm 99% sure.

  2. Those recent Bullish runs seem to be getting smaller and smaller. I almost want to just wait until April/May before deciding on what I want to do. It may just swing low like it did in December, and we might see 3,400~ prices.

  3. Just like in 2015 I think we will wick under the 200 w ma, It'll be bought up quick tho because a LOT of people will be buying down there, including myself.

  4. I know better than to try to predict short term market swings. I'm long term bullish and short term clueless. For that reason I just keep my expenses low, max out my surplus income and buy 1000 usd worth of Bitcoin every month. Bear markets don't last forever. If the price does drop back to the low 3k range I'll sell half my silver and buy more BTC.

  5. Excellent analysis today Jebb. I agree 100%. Do you notice the angles of those 3 decending wedges you drew are gradually flattening out? The same thing happened back in may and june, only in reverse and there were about 7 or 8 of them. I don't believe bitcoin will fall bellow that accending support around the 200 weekly. The chart is forming a giant 9 iron that is going drive bitcoin to the moon.

  6. A lot of talkin and lip flappin about something that just ain't gunna happen. Too much going on in the space that TA doesn't take in to consideration…This is simply a consolidation and accumulation period before BTC $ begins to climb and will never go back to $3K.

  7. You know what? For the past 14 months – after every dip recovers, everyone says “just one more big dip and then the market will recover!” Eventually, that one more dip isn’t going to happen. Is it this time? idk

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