What Does The Future Hold For Bitcoin?

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benjaminvillena
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#bitcoin #crypto #cryptocurrencies
I explain what the future may hold for Bitcoin based on price action analysis. Step by Step.

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Here’s a breakdown of what the future may hold for Bitcoin, based on on-chain analytics and price action analysis. The Bitcoin Blockchain is becoming more efficient as miner revenue is increasing and the amount of time it takes to mine a block is decreasing. This has been enabled due to the difficulty adjustment in the Bitcoin blockchain. Difficult adjustments tend to precede downside in Bitcoin’s price action in the short-term.

There are signs for this downside indeed happening. A potential Head and Shoulders bearish reversal pattern is forming on the price of Bitcoin. Technical Analysis is suggesting BTCUSD will experience a retracement. That being said, the long-term perspective for BTC is leaning to the bullish side. On the Monthly, a key demand zone has held and on the Quarterly Bitcoin is showcasing some curling up in its price action. These are all positive signs signalling a promising future for Bitcoin.

However, that doesn’t mean Bitcoin cannot retrace a little lower in the short-term so as to tap liquidity and gain more buy interest at lower levels. That being said, these financial opportunities at lower levels for Bitcoin won’t last forever. So while another major low is possible, this may be one of the final opportunities to accumulate Bitcoin at low levels.

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Bitcoin Mining
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