SITREP: We have a situation
This is a deep retest of a retest, this is not comfortable territory. This is the downside of a double-top, which was itself near the top of the bubble-pop downchannel off of the December ATH.
There's another shallower upchannel that overlaps where we are now, (unpictured) that overlaps with the current price point. Any further decline might become go off of a precipice and even revisit the orange downchannel. As of this moment BTC is drooping toward problem territory.
Blue rectangles are downchannel breakouts (1 failed, 2 successful, 1 projected)
Downchannels: 1/3 - White; 2/3 - Orange; 3/3 - Red
Upchannels: 1/2 - Green; 2/2 - Blue
Yellow horizontal lines: We have a situation
Red Horizontal Lines: We have a PROBLEM
Whales and whalepools manipulating the market with shakeouts and ? Tradingview schills as bad as exchange trollboxes?
Sure.
Hacks and "hacks" shaking investor confidence?
Well, yeah.
Normal fluctuation of the valuation of a set of intangible assets in an emerging market currently in the shadow of a bubble?
Yup.
Repulsion of a cadre of newer investors who had their first experiences during the run up to December ATH and all of the network congestion in systems designed to / supposed to be better and more reliable?
Unfortunately, Roger Ver had a point there.
It is a nauseating moment, and will be until Sunday/Monday when the pressure on the RSI hits its linear decline target from the December ATH.
You're holding a 10k bag, which you know is going up in the long term.
You're holding a bag and waiting on a train. You're at the right station, and you're all packed up and ready to go. You just don't know when the train is coming, and it could potentially never come if someone blows up the tracks upstream.
Why are you here?
If you're just here for forked airdrops and catching the early phase of a pump and dump without doing any due diligence *you're gonna have a bad time*
If you're here for the promises of transparent supply of money without a fractional reserve system, for a censor-resistant medium of communication, for the hope of eliminating middle-men in complex transactions, forroadening the circle of participation in your personal economic impact, for tokenizing your attention or creative content, for re-evaluating what investing means, then no one should be able to dissuade you.
Whales exist, trends exist, and bubbles have long shadows. We may be going down further, but things are oversold now anyway so the FUD and FOMO are duking it out.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.
There's another shallower upchannel that overlaps where we are now, (unpictured) that overlaps with the current price point. Any further decline might become go off of a precipice and even revisit the orange downchannel. As of this moment BTC is drooping toward problem territory.
Blue rectangles are downchannel breakouts (1 failed, 2 successful, 1 projected)
Downchannels: 1/3 - White; 2/3 - Orange; 3/3 - Red
Upchannels: 1/2 - Green; 2/2 - Blue
Yellow horizontal lines: We have a situation
Red Horizontal Lines: We have a PROBLEM
Whales and whalepools manipulating the market with shakeouts and ? Tradingview schills as bad as exchange trollboxes?
Sure.
Hacks and "hacks" shaking investor confidence?
Well, yeah.
Normal fluctuation of the valuation of a set of intangible assets in an emerging market currently in the shadow of a bubble?
Yup.
Repulsion of a cadre of newer investors who had their first experiences during the run up to December ATH and all of the network congestion in systems designed to / supposed to be better and more reliable?
Unfortunately, Roger Ver had a point there.
It is a nauseating moment, and will be until Sunday/Monday when the pressure on the RSI hits its linear decline target from the December ATH.
You're holding a 10k bag, which you know is going up in the long term.
You're holding a bag and waiting on a train. You're at the right station, and you're all packed up and ready to go. You just don't know when the train is coming, and it could potentially never come if someone blows up the tracks upstream.
Why are you here?
If you're just here for forked airdrops and catching the early phase of a pump and dump without doing any due diligence *you're gonna have a bad time*
If you're here for the promises of transparent supply of money without a fractional reserve system, for a censor-resistant medium of communication, for the hope of eliminating middle-men in complex transactions, forroadening the circle of participation in your personal economic impact, for tokenizing your attention or creative content, for re-evaluating what investing means, then no one should be able to dissuade you.
Whales exist, trends exist, and bubbles have long shadows. We may be going down further, but things are oversold now anyway so the FUD and FOMO are duking it out.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.
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