Is bitcoin going down?
In my opinion, if bitcoin doesn't make a higher high, and instead makes a lower low, we've most definitely entered a medium-term downtrend which will probably last for at least a couple of months.
Is this going to become a bullish flag?
Whether this downtrend is going to accelerate or not or whether it's going to remain in the current pretty tight range and turn into a long-term bull flag, is the main question.
Where's the next support?
By looking at this chart however, I see a lot more selling which tells me that the price is currently going to most likely make a new low below 2000, perhaps around 1750 and then bounce off again.
What about the other cryptos?
Since bitcoin has become the standard cryptocurrency and the benchmark by which all the other cryptocurrencies are measured against, One would only assume that the other cryptos are also going to continue to go down in the meantime.
Can bitcoin become 1000 dollars again?
Could bitcoin fall below 1000? Anything is possible but I would expect buyers to come back in at around 1000 if the price ever falls back to the psychological 1000 level unless something significant and game-changing happens.
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