Bitcoin (BTC) Technical Price Analysis, Trend Prediction (May 27, 2018)
Despite all positive news market is not reacting positively, now at the time of writing Crypto’s market capitalization is 326 Bln $ approx, it is down by 64 Bln $ from 21st May and 4 Bln $ from 24th May.
In last three days, top bulls of Crypto’s industry made bullish predictions and JOHN McAfee once again caught everyone attention by making too bullish short-term price predictions. He said in June BTC surpass 15000 $, Golem 5 dollar, Bitcoin Private 200 $, EOS 32$, Docademic .73$, Bezop .52 by mid of July. On what basis he made these predictions it is yet not clear but his prediction gives little relief to those who have lost faith in Crypto after a consistent dip.
At the time of writing BTC price is 7342 $ , ETH 577 $ , Ripple .60 $ , BCH 1003 $ , EOS 12.52 $, Bitcoin private (BTCP) 21.13 $ . On weekends CARTELS/CONSORTIUM these big groups don’t trade, Market is in a very bad state right now and Bull has 1 more daytime in their hands to revive market but no progress has been seen in last 24 hours.
In next weekend if selling pressure remains on and BTC go down below 7000 $ then market may slip in the state of depression which means 5k to 6k $ price could be next and then market takes time to revive. Anyhow, bulls have taken their position to keep prices up or else more damage will be on the way.
But there are higher chances that market go up from these levels and next 48 hours will give us a clear indication in which direction market will go after weekend CARTELS/CONSORTIUM will be back then market direction can be easily sensed.
If Bull will be successful to take market up then we can expect 7500 to 8000$ price within next 48 hours and as we already mentioned in our previous analysis if BTC will able to surpass 8000 $ price then BTC will be out of danger and it gives little relief to Buyers and then we can expect further upward movement soon .
Now its buying time prices are too down traders can buy 50 percent of their portfolio now and for rest 50 wait for next 48 hours and as per the market movement, you can take call and plan remaining 50 percent of your portfolio.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.