Hey everyone its @chahir99 , in this post im gonna give explain what's happening with Bitcoin , so without further ado let's jump right in :
We are at the bottom of a market cycle.
This happens every january , every January for the past three years we have seen the market take a hit.
If this recent drop is the absolute low or near the soon-to-be low, then we are right on track and should see a renewed bullish trend pretty soon.
It's important to know Bitcoin market corrections generally take about two months to complete, and we are now in end of the first month.
i'm expecting to see the $17,000 level in About A Week Or So , if things continue following the same patterns, and $20,000 within a week after that.
Please remember that i'm not a financial advisor and there are no guarantees in the financial markets, so i don't know for sure. What i do know is things have continued to line up as we have mentioned, which is a good sign, we're not out of the woods yet because with all the FUD that's happening china and korea and all the regulation on the crypto market .
I believe there's a decent chance we could see Bitcoin drop even lower level which would put it around $9000 ish ? , However BTC have major support level around that area, so if price were to drop to the that level, it is likely that price might continue to drop until it bounces off . Currently, that would have price hitting a low of around $8500 ish ? .
Personally, I Really Wanna see 1 More Huge Selling Off and after that a huge volume spike , i really don't mind if it goes as low as $7000 ,even though i'm holding Bitcoin .
Im not selling BTC here because it's really stupid idea to do so around this area.
I hope this was helpful and you guys learned something and if you like it please up vote me and let me know what you think about it in the comment section.
Thanks for reading!
Thanks for following @chahir99 .