Hellow steemit friends how are you all i think all of you really Good with the grace of GOD.The last time Bitcoin turned bearish for an extended period of time was in 2014 and 2015. The monthly 34 EMA provided a floor to the carnage. BTCUSD hovered just above or below this moving average for months before breaking higher.
Currently, the monthly 34 EMA comes in at $3,489. While this moving average will continue to rise before the price falls to meet it (if it does indeed fall to meet it), somewhere near the $4,000 range might be where the price of Bitcoin gravitates. Time will tell, and doubtless there will be trading opportunities along the way.
This scenario is just one of many that could play out in the coming months. Long term, Bitcoin's role as a global store of value should support its price and cause its value to rise significantly.
DISCLAIMER
This post is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action. You will make your own independent decision with respect to any course of action in connection herewith, as to whether such course of action is appropriate or proper based on your own judgment and your specific circumstances and objectives.
