Bitcoin - beauty in the eye of this beholderI am not a purist. I think averages are made to be broken. More important to me is a recovery above key supports, with volume.
We have 50% fib correction now, completing an abc Elliott wave formation. And we are testing and bouncing off the 200dma, with volume.
This is a pretty textbook correction. Now, assuming we are not on the wrong side of some co-ordinated central bank policy that makes all crypto illegal, which is probably a safe assumption, I will be using this as an opportunity to add.
Might I suggest, to anyone bothered to listen, that laser-eyes are more appropriate to a comicon convention than proponents of a new asset class, searching for legitimacy. Bitcoin/crypto/blockchain is new. New things are scary. The only thing more scary, to grown up investors, is a cult.
If you are on a mission to communicate the benefits of this new asset class then, for all our sakes, grow the fuck up.
This is not investment advice.
