2.23.19 We OUT!!! of the barn but not out of the woods yet.
We broke out of the descending channel (blue lines) really nice a strong and we've kept up the rally. The bull volume strength is fading a bit and shorts are gaining strength.
We are going to face some major resistance at the pink line @ ~$4333.
We just completed a mini bull flag with this last pop today.
Set your stop losses if we don't gain serious momentum we aren't going to break past the pink line.
Best guess (80%): we will float around this area (4134 to 4337) and when no big push materializes we will retrace back down to the top of the descending channel which was the resistance now is the support.
We will wait and see.
ETH really lead this breakout, I think people are really getting excited about Decentralized Finance aka DeFi from MakerDao and also Uniswap.Exchange.
Really neat stuff definitely worth a look into, there are lots of possibility for the future or as you know with crypto it could crash and burn... but the cat is out of the bag now.
Long term - Still the same as before. Accumulate and HODL The market has dropped 70-90% everything is honestly a bargain. Bitcoin is not going anywhere, if it would have died, it should have died the last time it went down 85% from peak in 2015. Every day that passes makes Bitcoin stronger. People say there is nothing behind Bitcoin and it is almost like a Religion where it only survives on belief.
Think about it this way. US Dollars is the same thing. There's nothing backing USD except for the belief of the US Government. It says right on the dollar bill, "In God We Trust". You say oh we can change it for good and services... well bitcoin can do the same thing especially when you can just change it for USD or any other currency. Anyways enough of my rant. Long term, accumulate only what you can afford to lose.
Good Luck, and BTW this is not investment advice.
We are going to face some major resistance at the pink line @ ~$4333.
We just completed a mini bull flag with this last pop today.
Set your stop losses if we don't gain serious momentum we aren't going to break past the pink line.
Best guess (80%): we will float around this area (4134 to 4337) and when no big push materializes we will retrace back down to the top of the descending channel which was the resistance now is the support.
We will wait and see.
ETH really lead this breakout, I think people are really getting excited about Decentralized Finance aka DeFi from MakerDao and also Uniswap.Exchange.
Really neat stuff definitely worth a look into, there are lots of possibility for the future or as you know with crypto it could crash and burn... but the cat is out of the bag now.
Long term - Still the same as before. Accumulate and HODL The market has dropped 70-90% everything is honestly a bargain. Bitcoin is not going anywhere, if it would have died, it should have died the last time it went down 85% from peak in 2015. Every day that passes makes Bitcoin stronger. People say there is nothing behind Bitcoin and it is almost like a Religion where it only survives on belief.
Think about it this way. US Dollars is the same thing. There's nothing backing USD except for the belief of the US Government. It says right on the dollar bill, "In God We Trust". You say oh we can change it for good and services... well bitcoin can do the same thing especially when you can just change it for USD or any other currency. Anyways enough of my rant. Long term, accumulate only what you can afford to lose.
Good Luck, and BTW this is not investment advice.
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