Trader: Bitcoin drops to $ 1100, LTC to 6 $
Source:Price «likes» move in fractals. Founder ADFVN Clem chambers argues that the main cryptocurrency may drop down to $ 2,500. This is the conclusion the analyst came after a detailed study of the movement of an asset over the past 12 months.
But the trader under the name Magic Poop Cannon is even more stringent forecast — according to him, the price of Bitcoin has the potential to test support in the area of $ 1100. In developing this scenario was also present fractals. So who is actually right?
theWhen Bitcoin will find its bottom
In Addition to Bitcoin, sight, Magic Poop Cannon were also Litecoin. Expert in no doubt that the price of one of the most popular altcoins could soon return to the level of $ 6. Supposedly now the trading pair LTC/USD is in a long term descending channel, which constantly generates new local lows.
Must Read! Hyperwave, Crazy, Fractals, $6 LTC & $1100 BTC! — chart
— MAGIC (@MagicPoopCannon)
A Similar method can be applied to Bitcoin. The main cryptocurrency will do is still a long way to a new yearly low near $ 1100. Here was a local high in January 2017.
The analyst Himself looking forward to the General decline of the stock market. According to him, the industry is just a necessary process.
Sounds Like we NEED to go lower to clear kriptonyte from shitkino and a Scam. The results of their «work» need to be destroyed.
It's almost like we NEED to go way lower, to cleanse the crypto space of the shitcoin projects and the fraud. They're leaches that need to be exterminated.
— MAGIC (@MagicPoopCannon)
Previously, almost the same bearish forecast was voiced by another famous trader Murad Makhmudov. Recall that in early January he predicted a new drain Bitcoin down to $ 1700. A little later, Makhmudov said that bitcoin «it will be very difficult» to overcome the resistance in the zone $ 4,300 even in the case of new rapid wave of growth.
What do you think about this? Share your thoughts in our . And don't forget , there is only the top.
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