I am just as happy as anyone that Bitcoin isn't tanking... Yet..
Ladies and gentlemen, what's good for the goose is good for the gander - I'm glad I can still make money with a plethora of long opportunities available today in crypto… But folks, don't be a Stewart Varney - don't look at this like a horserace announcer, don't get stuck on a day - don't just look at a board of numbers, and see a big green one, and think the future is nothing but sunshine and rainbows...
Just look a little bit closer… A true continuation of a trend into sustained brand new territory will take a lot more than a day to develop and verify… And if you look at the whole picture, we are still inside a range that is arcing over with nothing but clear air underneath...
This is a 12 hour chart in order to see a little more detail… But also zoom out and look at the daily and weekly chart… Find me any chart in the world that doesn't come back down to test support when it looks like that... I'll wait...
This doesn't mean bitcoin is dead, it's just natural, be prepared for other positions to fall along with it… Temporarily, i.e. for a little while. This is what the future holds someday coming up, maybe sooner than you think...
Just look a little bit closer… A true continuation of a trend into sustained brand new territory will take a lot more than a day to develop and verify… And if you look at the whole picture, we are still inside a range that is arcing over with nothing but clear air underneath...
This is a 12 hour chart in order to see a little more detail… But also zoom out and look at the daily and weekly chart… Find me any chart in the world that doesn't come back down to test support when it looks like that... I'll wait...
This doesn't mean bitcoin is dead, it's just natural, be prepared for other positions to fall along with it… Temporarily, i.e. for a little while. This is what the future holds someday coming up, maybe sooner than you think...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.