falak.mazhar
Short

May test sub 4k levels soon

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hey guys the temporary bottom of 4200-4000 is holding but so was 6000 at a point of time when that broke down once we didn't see a solid up move. This situation is exactly similar highlighted by the tightening bollinger bands and the inability of the bulls to touch 5000 means we are likely to see these sub 4k levels maximum by Monday. Notice that in the recent past when RSI tends to flatten out after a big wave of selling it means consolidation followed by continuation of bearish trends. Unfortunately we will have to wait a little more until we begin a new resurgent bull market.
Remember dont lose hope when BTC hit 20k everyone would laugh if someone said we will hit sub 5k levels, similarly now people laugh at people who say we will reach the ATH fairly quickly its possible we are just too clouded by the dull and bearish movement of cryptos since last Christmas which is now feeling like an eternity after a huge parabolic rise from 1k to 20k. Remember your goals when investing and weather the storm!
Comment: Reached under 4k!
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