BTC correction not yet complete. All markets rise and fall.
Further lows? Yes .
When you hear or see the words 'we are bushish on btc' by those that condemned it early on. ( They want some;) You must know the price will be driven down and panic will set in. This will drive the price lower.
As sellers try to recover their funds, or at least save a piece. LOL. This is a game, a very real game. Weak hands will fall. All markets are manipulated.
Once this happens increased buying will occur. This is my long term view on btc as we accelerate to 45K plus. Don't wait for 20k again geeze!
You see a tonne of red candles/flags, resistance breaking, oversold conditions, RSI and MACD etc. Buy up and hold ON!
Not a trade call friends, just a thought ;)
When you hear or see the words 'we are bushish on btc' by those that condemned it early on. ( They want some;) You must know the price will be driven down and panic will set in. This will drive the price lower.
As sellers try to recover their funds, or at least save a piece. LOL. This is a game, a very real game. Weak hands will fall. All markets are manipulated.
Once this happens increased buying will occur. This is my long term view on btc as we accelerate to 45K plus. Don't wait for 20k again geeze!
You see a tonne of red candles/flags, resistance breaking, oversold conditions, RSI and MACD etc. Buy up and hold ON!
Not a trade call friends, just a thought ;)
Trade active:
A short update(no pun intended) ;)
There so many patterns that people are trained to see here. Even a inverted cup and handle! Not to mention bull flags etc.
Testing support at 8k while forming a bearish H&S a break out to test 7.5K is possible.
The greater pattern being that 8k would give us a bullish incining H&S over a longer time frame. A breakout would then test 10k on the way to 13k.
10k being the barrier we humans would like to see break and retest. However retests don't always occur. Right now we have conflicting signals. Selling volume has tapered and buyers are holding.
We have the consensus yet to complete and Mt Gox coins on the market.
I'd like to see price action at 9k being a strong rejection to target further lows. There was not a strong reaction at 8k as yet to indicated a possible buying opportunity. So waiting is the best option. Why? Were you not confused by the above?
There so many patterns that people are trained to see here. Even a inverted cup and handle! Not to mention bull flags etc.
Testing support at 8k while forming a bearish H&S a break out to test 7.5K is possible.
The greater pattern being that 8k would give us a bullish incining H&S over a longer time frame. A breakout would then test 10k on the way to 13k.
10k being the barrier we humans would like to see break and retest. However retests don't always occur. Right now we have conflicting signals. Selling volume has tapered and buyers are holding.
We have the consensus yet to complete and Mt Gox coins on the market.
I'd like to see price action at 9k being a strong rejection to target further lows. There was not a strong reaction at 8k as yet to indicated a possible buying opportunity. So waiting is the best option. Why? Were you not confused by the above?
