Bitcoin - Dump incoming, future price action drawn out
I know my recent call on LTC was incorrect (but it will drop just in a different way).
This time, I predict a bitcoin dump to around $4000 and then another attempt at breaking $5000 (but failing). From there it will go lower than $4000.
I say this because I've seen this same pattern occur with various other speculative stocks. As much as Bitcoin is not a stock, it is still very speculative and I still remain bearish on the entire market. These prices remain a wild guess, and Litecoin's price once again seems very irrational because it is worth more than Monero (a far better cryptocurrency fundamentally) while having around 4 times the supply.
Look out for a correction and a dump in the coming days. It won't be that severe but we will be going lower.
Hope you enjoyed my analysis. I do not guarantee anything though! I still remain bearish!
Note: I am still holding some cryptocurrencies despite being bearish. Good luck all!
This time, I predict a bitcoin dump to around $4000 and then another attempt at breaking $5000 (but failing). From there it will go lower than $4000.
I say this because I've seen this same pattern occur with various other speculative stocks. As much as Bitcoin is not a stock, it is still very speculative and I still remain bearish on the entire market. These prices remain a wild guess, and Litecoin's price once again seems very irrational because it is worth more than Monero (a far better cryptocurrency fundamentally) while having around 4 times the supply.
Look out for a correction and a dump in the coming days. It won't be that severe but we will be going lower.
Hope you enjoyed my analysis. I do not guarantee anything though! I still remain bearish!
Note: I am still holding some cryptocurrencies despite being bearish. Good luck all!
Comment:
If my idea turns out correct, I will explain another important observation I made. So I'll keep anyone viewing this updated.
I am still sort of firm on 5200, if it closes at or above it, then I'm wrong. But I really feel like a deep correction will occur that will erase today's/yesterday's gains.
I am still sort of firm on 5200, if it closes at or above it, then I'm wrong. But I really feel like a deep correction will occur that will erase today's/yesterday's gains.
Comment:
The dump is coming soon.
Currently at 5200+, but I don't buy this price action for obvious reasons. The last time LTC:ETH was 0.5, a huge crash followed.
Still has not closed above 5200 on coinbase, but I'm really not convinced we continue to pump much from here.
Currently at 5200+, but I don't buy this price action for obvious reasons. The last time LTC:ETH was 0.5, a huge crash followed.
Still has not closed above 5200 on coinbase, but I'm really not convinced we continue to pump much from here.
I am also basing this idea based on many speculative stocks that have risen exponentially then came crashing down similarly to bitcoin. I did a lot of research.
What you are seeing is not some wild guess, but I can still be wrong. Either way, enjoy and good luck.