Morning Update
The price broke down the support and currently BTC is in the forecasted price range between $7500 and $7800. We expect further price decrease to Fib 0.786 which is around $7400, this support level will be also broken down a bit. The most likely scenario that BTC will bounce from $7000 to $7100 level but there will be not enough buying power to exceed $8000 resistance at once. So it will hold for a while at this level and then will grow slowly.
BTC needs a second wave of social media FOMO to start sky rocketing. You may wish it happens but we don't as it will ruin the market when growth wave ends. Bitcoin heads to its original price like a normal asset and will increase its value gradually. In the long term it should exceed #25k, the time frame is the end of this year. It is a normal situation the market still stabilizes after a FOMO shock which happened in the end of 2017
Regards
I will update this chart as new info comes up for my followers.
The information provided by @arjunsingh is for informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs.
