Market Analysis

Bitcoin Price Analysis Nov.25: The next big move is already here

from Crypto Potato 5 years ago 0 0 653

Just hours ago, we anticipated a big move. As you all see, it did happen, unfortunate to the HODLers. Bitcoin created in a new yearly low at $3600 (as of writing this).

The move was sharp and violent. What we can tell about Bitcoin’s past 11 days, since breaking down the bearish triangle on November 14, is that the slope of the moves become more and more violent.

What does surprise me is the speed of the way down. When we recently published this prediction I didn’t expect Bitcoin to achieve that so quickly.

So what to do now? Hold or sell? This is very tough to answer. In my opinion (and only, and not advice), when we see such move in one direction, without any major correction, we can anticipate a deeper correction. Hence, I do expect somewhere around these levels to see a correction back to the support turned resistance levels.