Bitcoin pullback scenario/targets
Updated
Complete speculation (NFA and please DYOR)
Two areas in yellow I'm looking at are 39k and then 32k.
Why?
1) large profits have been made recently
2) sell the 'event' scenario is being evangelized
3) many people missed the run so far, hoping for lower prices, and are still bear-biased
4) ETF managers want their funds cheap so their clients can make profit, (and wouldn't it be great to have rich political donors become even richer)
In January 2021 (I remember this well because I was not prepared) we would pull back quickly, somewhere in the 25% range. Once we shook out the paper-handed market, we pushed higher. I have to imagine I'm not the only one thinking this, and am going to play January defensively with an eye on small-cap speculative entries. The risk is I get caught on the sidelines, but have to tell myself, it could be a setup. I will be layering out and layering back in.
I am not a financial advisor. This is not financial advise. Please do your own research.
Two areas in yellow I'm looking at are 39k and then 32k.
Why?
1) large profits have been made recently
2) sell the 'event' scenario is being evangelized
3) many people missed the run so far, hoping for lower prices, and are still bear-biased
4) ETF managers want their funds cheap so their clients can make profit, (and wouldn't it be great to have rich political donors become even richer)
In January 2021 (I remember this well because I was not prepared) we would pull back quickly, somewhere in the 25% range. Once we shook out the paper-handed market, we pushed higher. I have to imagine I'm not the only one thinking this, and am going to play January defensively with an eye on small-cap speculative entries. The risk is I get caught on the sidelines, but have to tell myself, it could be a setup. I will be layering out and layering back in.
I am not a financial advisor. This is not financial advise. Please do your own research.
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