Bitcoin Crashes Over 50% From Recent Highs - Here’s Our Call on Support

Crypto enthusiasts were crushed over the Thanksgiving holiday when a fight over Bitcoin Cash and very thin liquidity prompted a massive price breakdown from recent highs. This downside move reflects a true price breakdown where Bitcoin bulls have to rethink their future strategies.

Back in October 2018, we warned that price MUST rally above the support level near $6986 in order for any future upside advance to take hold. The following week, we saw a massive price rally that lasted only a few hours and trailed off back below the $6986 support level. While we waited to see if any future price move would prompt a rally above this level, the Bitcoin price levels continued to congest.

The breakdown move over the past two weeks has been massive and hit our first target of $4000 as expected. From the recent highs, the downside move totals -52.81% so far. Our research team believes true support is near $2995 – a further -25% lower from current levels. This equates to a massive -65.85% decline in the past 40+ days.

There may be an opportunity for fresh long trades near the end of this year. We’ll alert you to any opportunities we see in the crypto-currencies as they set up. Right now, we would warn Crypto longs and enthusiasts to be very cautious of any further breakdowns in price. If the $2995 level does not hold as support, we could very easily the $1860 level before the end of January 2019.

Please visit The Technical Traders to learn more about how we can help you find and execute better trades. Our research team and proprietary price modeling systems continue to deliver success for our clients and members. We target selected sectors and trades for our members and deliver daily video analysis of most of the major markets to help our members stay ahead of market moves. Learn how we can help you find greater success in 2019 and beyond.

Chris Vermeulen

How Bitcoin Will Make You Big Money Again

If you are a Bitcoin fan or looking for the next opportunity for a Bitcoin rally, you may not have long to wait before a price breakout takes place. Our research team at The Technical Traders believes a price breakout may occur before the end of 2018 – the only question is will it be a breakout rally or a breakdown crash before the next mega rally?

Cryptos and, in particular, Bitcoin has increased in popularity and adoption over the past 24 months across the globe. Recently, Citigroup has announced new technology making Crypto transactions more secure and reducing the risk of such transactions. Additionally, Circle recently announced a US Dollar based Crypto currency that is backed by Goldman-Sachs. News from Europe is that the EU has been urged to adopt common Crypto Currency rules that will fuel more attention and enterprise on developing suitable Crypto solutions for the European markets.

All of this plays into our research that a breakout/breakdown is inevitable and it is just a matter of time before this coiling price consolidation “apexes” and expands.

This chart shows massive breakdown washout below $6000 taking it back to prices before crypto became popular in early 2017.

This next chart below shows our cycle analysis and how much bitcoin moved from our cycle bottoms to tops. We are now at NEARING a critical juncture of a $6000 breakdown which is clearly a support level, and a potential major cycle bottom or continuation down cycle. Huge money can be made from this extreme volatility that is about to unfold and savvy technical traders can see the profit potential unfolding.

We urge all traders to keep Cryptos in focus over the next few weeks and months. Our research team shares our proprietary analysis and research with our paid members regarding the Crypto currency trends and trades.

If you want to learn what we believe will be the next big move in the Crypto markets, then visit The Technical Traders to learn more. Our proprietary modeling systems are clearly showing us what we should expect over the next few weeks and months. As a member, you will have access to this research and benefit from our Daily Research Videos.

Chris Vermeulen