That's the Way the Bitcoin TumblesWhy I Think the Sell-Off Isn’t Over Yet
Bitcoin is already in the middle of a sharp sell-off, but at least half the market seems convinced the worst is over and that a recovery is underway. I don’t see it that way. Bitcoin has been grinding sideways into the Bollinger Bands on the weekly chart, and now that it’s finally colliding with the basis lines, I think it’s about to plunge straight through them. This doesn’t look like a market that’s ready to bounce—it looks like one that’s about to take another leg down. Maybe I’m wrong, maybe I’m early, but in my experience, when people start celebrating too soon, things tend to get a whole lot worse.
CRYPTO:BTCUSD
CRYPTOCAP:BTC
CME:MBT1!
CME:BTC1!
CRYPTO:MOBILEUSD
COINBASE:RNDRUSD
CRYPTO:SHPINGUSD
CRYPTO:FXUSD
CRYPTO:ALEOUSD
CRYPTO:HONEYUSD
COINBASE:ACSUSD
CRYPTO:ASMUSD
CRYPTO:BATUSD
CRYPTO:FILUSD
CRYPTO:VTHOUSD
CRYPTO:B3USD
As always, this is not investment advice, any trade you make is on you, because good golly Miss Molly, I got my own things to worry about.
