RPubens

$BTCUSD and Total Crypto Market DECISIVE Moment

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The current formation looks very much like the 2017/2018 crash and the dot com bubble crash as well.

There is no safe zone really at the moment since I think BTC is going to range in a descending triangle and will retest 30K support 2 or 3 more times.

For me, if it breaks below 30k levels, it's a clear sign that the possibility of a bear market starting is exponentially higher.

When it comes to upper boundaries, I will be looking at 37-38K levels, and see if it breaks above and finds support.

In all above mentioned crashes, we had one top peak, followed by a major 20-30% correction, followed by 2 lower high peaks and corrections then entering descending channels and eventually major bear market.

I am gradually selling some of the crypto I hold and will be leaving some to see if it holds 30k levels.

Not a trading advice, I could be wrong.

Comments

I totally agree with you. I can see a lot of people are simply drawing charts that bitcoin will go higher without taking regards of the bear.
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RPubens Garymatt8
@Garymatt8, Absolutely, they draw couple of trend lines and that's it. The more I'm looking at the chart the more I'm convinced this is a bear market. Time will tell.
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