Here is why:
- Red are repeating and they all get broken at the end in a last massive sell off.
- Even weekly seems to show oversold condition and the lines have crossed, it can just go up a bit and go down again. It doesn’t show a lot of strength.
- Focus on the bigger picture. Monthly is free falling and the last time it happened (2014), the situation was similar.
- People without any knowledge of supports, resistances, Fibonacci, , etc., are still scared. My question is, would you buy a coin that every time it pumps, it draws a lower high? If I didn’t know about trading analysis, I wouldn’t get in, to be honest.
This is just an idea and I can’t be wrong, of course. I’m not responsible of your actions, so trade or invest carefully.
Have a good day! ;)
Point 2, I meant “ALTHOUGH weekly MACD seems to show...” and the last sentence “This is just an idea and I CAN be wrong...”.
I’m so sorry, hope you knew what I meant.
Have a good day :)
What do you mean by 1127 day? Do you mean if it can go to 1127? Well, it's a crash and it can, but I doubt it goes lower than 2600. Maths showed around 2800, as it also did fibonacci. Also, there's a support at this level. :)
And yes, it will go up again and 20k will be nothing.
Anyways, I wouldn't buy now thinking it will go up. What if they ban crypto? Wait a bit and see if it goes to that level or goes up from here. ;)
if the scenario repeated it self literally from end 2015 to reach the same top take 1127 day.
So that's impossible I think because bitcoin now, not as 2014 or 2015.
But I agree with of 5600 broken this will pickup to panic , but how longs take to reach 20k , the high value of 2017 this is the big issue!