I've had this chart up for several weeks and have been egged by amateurs! History repeats itself, the only difference is that this time BTC was higher, but it's drop will be harder. Speculators chase short term profits, that's it! When the value drops, they cool off. No one buys a depreciating asset unless you think you can buy it at a lower price or it will significantly spike in the short term horizon. When it drops it means that sellers are in control and those who made any profit are now at a LOSS! Buy with strong momentum and a meaningful resistance level. I've seen folks lose tons of money buy buying against the trend. The trend is DOWN, quite a bit more. Not anti-BTC, just following the charts and the value. It's not a pump and dump scheme just like the Trump coin. Don't get rugged, if anything leverage the inverse ETF and profit from this drop!
Best of luck, and do your own due diligence!
Best of luck, and do your own due diligence!
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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.