Bitcoin price predictions have been coming thick and fast over the past couple of months as analysts and investors attempt to foresee when the bottom will be in. This serves as the best buying opportunity but very few traders get it exactly right so getting close should be good enough.<\/p>\n
Bitcoin<\/a> has failed twice so far this year to break key resistance levels, the first at $4,000 and then again at $3,600. As resistance zones keep falling, the down trend line from the top gets repeatedly tested and rejected indicating that more pain is imminent.<\/p>\n The new resistance level for Bitcoin for the week has been $3,500. It has hit this twice in the past seven days and instantly bounced off it, settling at $3,460 or thereabouts. The signals are still looking bearish and according to some technical indicators Bitcoin will be at or below $3,000 by April.<\/p>\n Prominent analyst Murad Mahmudov<\/a> has identified clear buying and accumulating zones if this down trend line remains intact. Only when it has been broken will the Bitcoin bulls return; \u201cBreak that trendline before we can even think about having bullish discussions.\u201d<\/p>\n The only chart you need. — Murad (@MustStopMurad) February 6, 2019<\/a><\/p><\/blockquote>\n\n
My rough view on what I believe is going to happen.
Break that trendline before we can even think about having bullish discussions.
Patience is Virtue. pic.twitter.com\/mb5y3Xh3cK<\/a><\/p>\n