Reading Time: < 1 minute

Graeme Tennant, our Financial Analyst at Global Crypto takes a look at the Bitcoin chart and shows us why he is still extremely bullish on the longterm, but highlights just why he is looking fairly bearish in the short term.

Due to the current price structure, a spill down to around the $9500 is very possible, and actually quite likely.

Keep an eye on that $10,500 and then the $10,000 areas for confirmation of this move to the downside.

$9,200 looks like it will be a more specific solid support if it falls through those above supports – and from these regions we can reassess.

Give this week’s analysis a watch:

 

James Preston
James Preston is the Executive Editor of Global Crypto. He is a writer and media commentator who has been reporting on how the Tech industry will make the world a better place for 14 years, with a large following on South African radio. He is an early adopter of Bitcoin, and began reporting on its revolutionary capabilities in late 2014. Philosophical by nature, he is intrigued by how the world works, and in turn, how it can be bettered. James believes wholeheartedly that the world can become as close to perfect as we humans can imagine, but it will take a lot of effort (and time) to get there. He believes his life purpose is to inspire people to believe this, and find their place in helping humanity achieve it. James regularly does talks on emerging technology and its impact on society at Universities, global conferences, and events. To invite him to speak at your event, or comment for your media outlet, email info@globalcrypto.tv

LEAVE A REPLY

Please enter your comment!
Please enter your name here