Sorry My Love, Healthy Correction Is Needed. Short

Bitcoin / U.S. dollarBitstamp

Description

⋅ Feb 20, 2021 3:03 AM

Firstly, LONG LIVE CRYPTOCURRENCY AND BITCOIN.

In the short term, I would be lying if I didn't think this is going to see a healthy correction onto Ichimoku cloud support.

This is not technically a rising wedge. I drew a triangle to demonstrate the divergence + unsustainable support curve.

I love Bitcoin man, Don't get me wrong with that... BUT I have been around long enough to know when something bearish is in the air.

Sorry CryptoTwitter, I know you are very bullish right now, Sorry Elon......

Please be sure to buy the dip so we can all aboard the moon-ship again.

Thank you.

- Stay profitable
- Dalin Anderson

Comment

⋅ Feb 20, 2021 10:23 PM

NOTHING HAS CHANGED. DOWN ONLY.

Comment

⋅ Feb 26, 2021 5:37 AM

Correction is likely NOT OVER YET!

Comment

⋅ Mar 9, 2021 3:25 AM

The bottom is in :)

Comments

Zivul33

⋅ Feb 20, 2021 4:15 AM

i agree

Vaarrunksharma333

⋅ Feb 20, 2021 6:38 PM

@Zivul33, True Man

impressivemansor

⋅ Feb 22, 2021 7:01 PM

We done correction here or still ?

brydelro

⋅ Feb 20, 2021 4:33 AM

Hmm diagonal trend line off 1 point of resistance?

FallingWedge

⋅ Feb 20, 2021 10:43 AM

@brydelro, bears are trying their best to short "the top"

cryptobullethbtcxlm

⋅ Feb 20, 2021 8:24 PM

rule 1: you dont short in a bull run rule 2: read rule nr 1

shaoxuanong

⋅ Feb 20, 2021 1:42 PM

lol, shes only back during the bull market, and everybody is a genius in a bull market.

TheCryptobaught

⋅ Feb 20, 2021 3:36 AM

I feel the same way, maybe I am a permabear lol BTC did just have a 31%+ correction from 42K down to 28.8k, so that puts things into perspective for me. I don't think the corrections this bullrun will be larger percentagewise than the last bullrun.

byteminer

⋅ Feb 20, 2021 3:31 PM

@TheCryptobaught, havent seen anything going to 28.8K man... we are at 56K now with a weekend retract of a few %

TheCryptobaught

⋅ Feb 20, 2021 4:33 PM

@byteminer,
I am talking about the correction we had from Jan 9th through Jan 22nd. BTC went down from 42K to 28.8K or ~31.4%. During the last bull run in 2016/2017, the corrections for BTC were typically around 30-40%. I think that was our first real correction and we still have some upside before the next 30%+ correction.