It's becoming increasingly difficult to expect a positive price acceleration in the crypto money and digital asset industry. Although the reason for the decline of the bitcoin price is not determined precisely, the pressure of the decline continues to rise. The following three short-term bitcoin price estimates can lead to you.
Here are the guiding Bitcoin price estimates
1-1,175 $ up to a dip possible
Most people don't want to see that, but the price of bitcoin is likely to fall below 3,000. Crypto money has been very close to this level for the past few days, so there is no reason to think that this level will not be broken. Although Magicpoopcannon's Bitcoin price chart is quite alarming, it seems to approve the situation.
More specifically, this trader expects Bitcoin to fall to a low level as fast as 1,175 dollars towards the end of the first month of 2019. This means a 60% drop for Bitcoin. This is not impossible, even the recent analyst seems to have a high probability of realization according to their views.
2-Reverse head and shoulder model failed
Although a bit impartial, you still need to look at the graphics of Botje11 when it comes to interesting price estimates. This trader continues to summarize the Bitcoin value vision for the coming days. The reverse head and shoulder pattern failed, which is a worrying look. The real question is whether Bitcoin will hit lower levels or a new low level in the coming weeks.
When the price starts to drop, there will be no more Bitcoin price support and more decline tends to be expected. Most experienced traders have recently been given very little purchase orders, as they expect prices to fall even further. Lower volume, you can not recover any real price. At the same time, the volume of sales seems to be quite low, which can create an effective scenario.
3-Finding a new support zone
Given the current market conditions, it is clear that the price of bitcoin must find a fixed level of support. All previous regions were quickly broken down, which explains why the price has continued to shake so wildly in the last few weeks. Some tests against resistance have been attempted, even if they have never succeeded. Therefore, the 2,958-dollar lock support will be activated again soon.
According to Trader Xuanhaimoer, the current price momentum does not seem promising. Since there is no effective support, the key resistor will not be more efficient than any test of 3,800 dollars. For now, the Price's target could be closer to 3,000 dollars, in the coming days and a lot more drop pressure. That's not the look people hope for, but there's not much to guarantee any positive emotion right now.