BTC has over the past few days had some major STOP HUNTS on all the major exchanges taking out many margin traders, but if you have managed to survive the carnage and are still LONG... BTC is going to make yet another attempt at the 10K Target...
BUT... this attempt will only see $9444 before a deeper correction, and then a 10k attempt. So if you are thinking of making a SHORT TRADE... patience, the time is coming...
EVEN BTC NEEDS TO REFUEL !!
But don't be concerned about this correction, there are different types of corrections and this correction is known as a TECHNICAL CORRECTION which is not to be confused with a TREND REVERSAL We are still very much within our parabola and still very much within our rise to targets.
What is the difference between a technical correction and a trend reversal?
A technical correction occurs when an assets price becomes overinflated in a , the price experiences an extreme selloff which is sometimes unexpected and swift, with a steep drop . This swift drop sometimes causes market panic and the Bears come out to play with their potential reversal charts, to extreme levels, I have seen some of those charts right here on TV amongst some of the top traders and top trending charts, but it is really important to know the difference between a technical correction and a trend reversal.
When we are looking to see the differences we need to assess the entire market sentiment, and it is important follow the money trail, by looking at what I spoke about in my last BTC update, with the and BTC Dominance. We also need to look deeper into news and media as to what they are reporting, if mainstream media are starting to have conversations about the state of the CryptoCurrency markets in a positive way, then we need to think that we are in a technical reversal and BUY THE DIP ,
In a market it is not always easy to determine where and when a technical correction will occur as they are mainly controlled by the bigger players (whales) creating liquidity for themselves.
So don't confuse a Technical corrections with a potential reversal as you are going to wish you bought BTC at 7K or 8K when we are up at 11K
So the best advice I can give you right now, is while the market is still in a mindset, BUY THE DIP!
REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION
(minimise your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!
The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...
PS make sure you give me a like, that way you get updates as I post them.... :) <3
I was getting the message psychically that we would hit between $9,500 and $10,000 as the Wave 3 extension before we go down again (which I also state in my June Horoscope. But I have no idea where wave 4 will stop. It’s nice to see your TA agree with me on wave count and upper target. My forecasting is all about TIME and I can tell you when the next low will happen and the peaks and valleys along the way.
Where do you see wave 4 going down to after we finish wave 3?