Short Term Update

It’s been a while since I have taken the time to post an update and I’ve been feeling a bit guilty about that to be honest! I remind to everyone that every monday i post a small update on my twitter profile, so keep an eye on it.

You see, the XBT/USD is approaching $200, and I think it’s headed lower still. We could see it reach $170 by the end of next month but at the same time i think that this long term drop is pushing the bitcoin market to the edge of a new rally. The main problem is that the downward trend is still pronounced that a visit sub $200 is inevitable.

About the short term, this market topped as expected in the price range i mentioned on twitter last monday, around $239. A new low will be probably established in the $190-$195 price zone as indicated in the attached below daily chart.

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11 thoughts on “Short Term Update

    1. it’s not enough to say that the bear market is over but at least we avoided a further drop to 190-200

  1. Wiki

    Hello, Mr. Enky. How do you think of recent pumps? Some claim that it is the end of the bear market.

  2. Jose

    Bitcoin has been strong since early this year actually. We’re about to go fractal and shoot up, behind the scenes bull market has already started

  3. Michael

    There’s also a BB squeeze forming on the weekly chart. If the price breaks the resistance of the middle band it could be the start of a rally.

  4. Arthur

    Hi Enky! So far no $200 or lower yet… Still waiting for it though, to grab a few extra XBT if possible. Do you have new insights to share meanwhile maybe? Rock on!

    1. I’m waiting to see if 210 will hold or not u know summer slump ahead i don’t expect much but if it can resist above 200 this summer then my bias will be probably bullish. Bye!

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