Next Move for BTC:
Bitcoin is two years into its current bull trend, and over this period the market has become increasingly unstable. There are several factors at play that suggest an incoming crash and entry into a down trend relatively soon.
- Markets can not sustain exponential rises like this. Up until April the rise occurred linearly at a healthy pace which allowed BTC to create a strong line of support depicted by the thick green line. The break upwards into its current exponential curve has created a series of new supports that get consecutively steeper and weaker. Once one of them is broken it is unlikely that the others will be able to hold. The bottom support has a decent chance of holding, but a break through would not be surprising.
- The market is now rising so quickly that it has passed through $10,000 , $15,000 , and almost $20,000 in barely over a week. Each of these significant milestones in price have a psychological effect of fear for investors and an increase in selling pressure.
- Two new BTC futures markets are set to open on December 10th and 18th. This allows new whales to enter the market with enough funds to easily overpower all of the current high rollers. Future traders aren’t known to be nearly as bullish as the average crypto trader. When the markets open they’re going to see any easy opportunity to drive these prices down.
Alts with Huge Profit Potential (Must be willing to hold these for a few months for full profit)
If you’re able get over the fact that you’re investing into a meme than doge is an excellent decision. It has bottomed out and a rise up to only the lowest of the previous will make you a nice 525% profit. This is also a fairly conservative target. Profit above 1,000% is definitely plausible.
If you’re not down with the memes, Burstcoin has a similar set up. It has also bottomed out and has a ton of room to run freely. With this coin hundreds of percent profit will come easily with a best case scenario of around 1,200%.