BITCOIN -" Why are you doing this?!" - CryptoManiac101
Updated
Welcome back my fam,
Here's our current issue which we are dealing with in this market. Bitcoin is riding right on our resistance and support levels which is 'extreme' to say the least for crypto market. Downtrend below our long term support which has been valid since late 2017 will bring us much closer to further supports which are located at $5,150 , $4,450 levels.
Upon a successful upward break, which is what we all want to see now, we will pull over $7,500 in short term and $10,000 in few weeks thereafter.
What's our take on this?
Personally we are feeling just fine in this market. Panic sellers who will or have sold in loss, are losers. Of course referring to those investors who had financial means to hold their alts or bitcoin but chose to sell in loss because of public panic. Yes, that's understandable why some would do or have already done that, however just look at historical patterns with Bitcoin and even some alts which have been around for over a year. This is natural and 'correction' which we are seeing (NOT BUBBLE EXPLOSION) is healthy for the market. It might not be healthy for its investors, however in long term it is healthy and heavily needed for market to continue it's growth. With that said, don't worry if you're still in, just take a chill pill guys and relax for few weeks haha
To those who say this is a bubble that has bursted and will bring down cryptocurrency down...
Just take a look at current market cap... below 280 bill and was over 800 bill back in December. That is not what we call a bubble. In fact, that is nowhere close to a bubble taking into account that cryptocurrency is internationally available to invest in with less then 5% of Americans owning some percentage of crypto back in December. Real bubble concerns will begin after 200 trillion market capture, not at 800 billion.
Feel free to comment below with any questions!
Enjoy this trade my Crypto Maniacs, but remember to invest only what you can afford to lose or you're going right back to poverty on drop. We are not your financial advisors.
Here's our current issue which we are dealing with in this market. Bitcoin is riding right on our resistance and support levels which is 'extreme' to say the least for crypto market. Downtrend below our long term support which has been valid since late 2017 will bring us much closer to further supports which are located at $5,150 , $4,450 levels.
Upon a successful upward break, which is what we all want to see now, we will pull over $7,500 in short term and $10,000 in few weeks thereafter.
What's our take on this?
Personally we are feeling just fine in this market. Panic sellers who will or have sold in loss, are losers. Of course referring to those investors who had financial means to hold their alts or bitcoin but chose to sell in loss because of public panic. Yes, that's understandable why some would do or have already done that, however just look at historical patterns with Bitcoin and even some alts which have been around for over a year. This is natural and 'correction' which we are seeing (NOT BUBBLE EXPLOSION) is healthy for the market. It might not be healthy for its investors, however in long term it is healthy and heavily needed for market to continue it's growth. With that said, don't worry if you're still in, just take a chill pill guys and relax for few weeks haha
To those who say this is a bubble that has bursted and will bring down cryptocurrency down...
Just take a look at current market cap... below 280 bill and was over 800 bill back in December. That is not what we call a bubble. In fact, that is nowhere close to a bubble taking into account that cryptocurrency is internationally available to invest in with less then 5% of Americans owning some percentage of crypto back in December. Real bubble concerns will begin after 200 trillion market capture, not at 800 billion.
Feel free to comment below with any questions!
Enjoy this trade my Crypto Maniacs, but remember to invest only what you can afford to lose or you're going right back to poverty on drop. We are not your financial advisors.
Note
Also for those who like numbers and percentages... currently there's 50/50 chance of Bitcoin going up or down, so do not try to tell me that it will certainly go down or up. NO ONE KNOWS FOR 100%Note
Forgot to mention in description... current support which investors do not want to see breached is $5,500Note
Nice movement as expected towards support - keep shortingNote
Nice bounceNote
We are now more bullish on Bitcoin but $5,800 is possible before next bullNote
Over 250 Million Tether tokens issues, are we about to blow up?ctlgr.com/6upn
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.