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Where Is Bitcoin Headed Next? Technical Analysis Thru Nov - Investment - Nairaland

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Where Is Bitcoin Headed Next? Technical Analysis Thru Nov by computerglobal(m): 7:51am On Nov 21, 2022
Its been a rough year for Bitcoin and the entire cryptocurrency market the last couple of months having made it any easier. The Price of Bitcoin has been in a steady decline in recent weeks pushing below the critical support level at 18600. The second largest exchange( FTX) scandal has left investors desimated further pulling down the market capitalization. Recession is looming in the US according to the lastest inflation numbers. The FED is talking about hiking interest rate by another 75 basis points to keep down inflation which will negatively impact the price of Bitcoin.





Technical analysis projection

From the weekly chart, it's only a matter of time for the price of Bitcoin to hit the 13800. The AB=CD pattern projects Bitcoins price touching the 13800 price which which was the Local high for 2019's bull run. This price level may serve as a life line and a glimmer of hope for investors at least in the short term. Before any meaningful correction can be expected, price of Bitcoin has to go down to at least 13800 level




Find out where Ethereum is headed Next: https://thechartistorb.com/weekly-projections/weekly-market-projections-for-xauusd-spx-500-btcusd-ethusd-nov-21-25-2022/


Find More Technical Analysis like this on: https://thechartistorb.com/weekly-projections/




Mynd44
Dominique

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Re: Where Is Bitcoin Headed Next? Technical Analysis Thru Nov by computerglobal(m): 5:35pm On Nov 21, 2022

Find out where Ethereum is headed Next: https://thechartistorb.com/weekly-projections/weekly-market-projections-for-xauusd-spx-500-btcusd-ethusd-nov-21-25-2022/
Re: Where Is Bitcoin Headed Next? Technical Analysis Thru Nov by imagrg(m): 5:39pm On Nov 21, 2022
Bitcoin would soon come to extinction.
Pi Coin would replace it.
Re: Where Is Bitcoin Headed Next? Technical Analysis Thru Nov by computerglobal(m): 1:51am On Nov 22, 2022
imagrg:
Bitcoin would soon come to extinction.
Pi Coin would replace it.




As of today, 786.74 Billion with Bitcoin the largest contender at
38.6%. This means Bitcoin has a market capitalization of ~303 billion
which makes it the Number 1 sort of after-coin in the Crypto industry.
Bitcoin is the Number 1 coin for over 1 decade for a reason.
First-world countries are trying to control inflation by raising
interest rates and as such the sentiment on Bitcoin is still low.
When all these countries do decide to start printing money from thin
air like they've been doing for decades and inflation goes haywire,
the only coin investors will run to is Bitcoin or something close to
the top 10 in terms of market capitalization.
If Bitcoin does go to extinction as you suggest it will take the
entire cryptocurrency market down with it without any doubt. So what
hope is there for this PI coin�?

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Re: Where Is Bitcoin Headed Next? Technical Analysis Thru Nov by loucbou: 10:34am On Nov 22, 2022
Nice response. Solid!

computerglobal:





As of today, 786.74 Billion with Bitcoin the largest contender at
38.6%. This means Bitcoin has a market capitalization of ~303 billion
which makes it the Number 1 sort of after-coin in the Crypto industry.
Bitcoin is the Number 1 coin for over 1 decade for a reason.
First-world countries are trying to control inflation by raising
interest rates and as such the sentiment on Bitcoin is still low.
When all these countries do decide to start printing money from thin
air like they've been doing for decades and inflation goes haywire,
the only coin investors will run to is Bitcoin or something close to
the top 10 in terms of market capitalization.
If Bitcoin does go to extinction as you suggest it will take the
entire cryptocurrency market down with it without any doubt. So what
hope is there for this PI coin�?

2 Likes

Re: Where Is Bitcoin Headed Next? Technical Analysis Thru Nov by loucbou: 10:35am On Nov 22, 2022
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Re: Where Is Bitcoin Headed Next? Technical Analysis Thru Nov by computerglobal(m): 11:42pm On Nov 22, 2022
computerglobal:


Find out where Ethereum is headed Next: https://thechartistorb.com/weekly-projections/weekly-market-projections-for-xauusd-spx-500-btcusd-ethusd-nov-21-25-2022/

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