Bitcoin was down all the way to $9809 on Bitstamp yesterday, which was not nice to see, but we are still way off the $7500 target some analyst predicts will happen soon. Or will it?

If everyone sees $7500 as a new low, some will get in early and we might not see it. Do see what I am trying to say? If we know the future, we will act accordingly, and the future prediction might not happen.

Currently we are making higher lows from the $9500 low this week, but this can change fast as we have seen before.

I am watching Tone Vays for a longer view on Bitcoin price and he says that if this week closes at a lower weekly low, that is bearish. Tone looks at the weekly candle sticks and gives us 3 scenarios which is very interesting.

Tone shows us why $9200 is key. His weekly chart is still very bearish. If we break $9200 we are going way down. But before that we might see a bounce to $11000, then all the way down.

Here is Tone Vays’s latest video:

https://www.youtube.com/watch?v=RJICZxRD3vc



Here is the analyst of Heajin Lee for more info on Bitcoin. He is also seeing more downside:

https://www.youtube.com/watch?v=9hFkgJSih-s


What do you think of the current bitcoin prices? How low can we go? $7500?

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I am a successful bitcoin cloud miner and affiliate of Genesis Mining and USI Tech. I have been mining for the last 19 months. I highly recommend Genesis Mining and USI Tech to earn bitcoin and make money online. I believe it is more important to earn income than hold assets. That is why I recommend mining crypto and blogging on Steemit.