Parabolic support still not broken - from 7.3K$ to 9.8K$?
Hello there Crypto haters and lovers.
This is my first post in tradingview, sharing my idea about the market. It is kinda funny to see how people get affected by herd mentality. FOMO, FUD, These are just terms which don't describe the whole emotional roller coaster that market sentiment has every time a bitcoin rally starts. To be fair, Bitcoin adoption might not be here yet but the hooligans, hard headed fans and haters have created a really entertaining playground for us to play.
First of all, I just want to mention that patience is key. Everyone acting like pros, but it's not true. Nobody is master of charts king of cryptos and so on. Don't short this market because you will be left behind in Bitcoin dust.
How I see the situation right now is that the market is still in the parabolic region and keeping its support. We might shortly fall to 7300 to touch the red EMA line you see in the image and bounce back up toward upper 9K$ region. But it does not mean that the market have corrected itself, so it is quiet possible that after the new 2019 high price corrects back to major supports around 6800$.
Conclusion: So if you want to buy, just be patient take your time until market unravel itself and shows you the obvious correction and consolidation (an obvious dip).
This is my first post in tradingview, sharing my idea about the market. It is kinda funny to see how people get affected by herd mentality. FOMO, FUD, These are just terms which don't describe the whole emotional roller coaster that market sentiment has every time a bitcoin rally starts. To be fair, Bitcoin adoption might not be here yet but the hooligans, hard headed fans and haters have created a really entertaining playground for us to play.
First of all, I just want to mention that patience is key. Everyone acting like pros, but it's not true. Nobody is master of charts king of cryptos and so on. Don't short this market because you will be left behind in Bitcoin dust.
How I see the situation right now is that the market is still in the parabolic region and keeping its support. We might shortly fall to 7300 to touch the red EMA line you see in the image and bounce back up toward upper 9K$ region. But it does not mean that the market have corrected itself, so it is quiet possible that after the new 2019 high price corrects back to major supports around 6800$.
Conclusion: So if you want to buy, just be patient take your time until market unravel itself and shows you the obvious correction and consolidation (an obvious dip).