i personally think its gonna be near impossible to see prices like before. the mania seems to be over for the giant crypto. everyone who was going to buy it already bought it, so attracting new buyers will need a few years for the next generation. ive been wrong before, and i of course wish it goes up, i will make money but i doubt this will happen like before
possible outcomes.
I do these to remind myself which charts to analyze. there is no analysis as of yet, other than the 2 min quick glance.
an actual analysis will follow this evening
I think its time the Cat is out the bag.
Pump and Dumps are not illegal for Crypto so therefore his was 100% legal and there is a good chance it will happen again.
Step 1) buy the Crypto of choice. in this case Bitcoin, but dont use up 100% of your capital yet.
step 2) Get momentum going. For something this big it can take months or a couple of years.This...
one of two things will happen in my opinion.
- it looks like its going to the Resistance zone
- it will continue going lower after a bit of consolidation
note that my analysis is for the next 6-10 bars/candlesticks. this is in no way a reversal as of now. Retracements may become reversals but there is nothing to indicate that it has reversed its downtrend.
It did a breakout, but it didnt seem to capture peoples interest. This may have been a forced breakout to attract buyers. most breakouts in this fashion are Fake Breakouts
