In each cycle, #Bitcoin has never fallen below the 0.786 Fibonacci retracement level (with the exception of the very first cycle). That cycle was unique because Bitcoin had such a small market cap that it traded more like a penny stock or altcoin. In fact, Bitcoin has bottomed at the 0.786 Fibonacci retracement level in every cycle since then.
If Bitcoin fails support and moves lower from here, I could see it bottoming around $55,000, or $40,000 at the absolute lowest.
Generational wealth could be created for those who buy the dip here. I believe the mass adoption cycle will follow. Be ready, because Bitcoin could potentially reach $500,000 to $1,000,000 per coin during that cycle.
As always, stay profitable.
β Dalin Anderson
I should clarify: I am not calling for a drop here. I still lean heavily toward the bullish scenario and support holding. The levels I drew represent the absolute lowest I could see Bitcoin going if it doesnβt follow my original analysis.
Most altcoins look ready to pop, and the crypto market is still primed for something huge. Itβs only a matter of time.
#Zcash vs #Bitcoin is such a strong buy signal. People who start buying, talking about, and becoming part of the Zcash community will be amply rewarded for it.
I don't like how many people are bearish right now. I think #Bitcoin will bottom here, especially with XLM showing strong signs of a bottom formation. I think the crypto markets have bottomed. My original analysis still holds true.
Don't know why nobody is talking about this massive cup & handle pattern on total market cap excluding BTC and ETH. This is the same setup I used to call the pump on Bitcoin from $50K to $126K and the pump on Gold from $1,600 per ounce to $5,600. With Bitcoin dominance looking weak, I believe a massive #Altcoin season is right around the corner.