BTCUSD - Bitcoin approaching the CL. Potential for a bounce.
The current target is still the center line of the pitchfork.
From there we have a high probability to get at least a bounce.
I would not expect a trend change, since BTC is clearly following the bear market. And why wouldn't it?
BTC is a currency. People use it as a thing of barter the same way as with Fiat-Money.
What ever you use to buy, it's value comes from people believing in it.
So, if inflation starts to kick in (which it already has immensely) , the value of the "thing" ,be it BTC or Fiat, goes down. You have to pay more for the same goods as months before.
So don't stick in the false believe that BTC MUST go up, just because it's BTC, because it could free people from Fiat, because it's hip etc.
This is how I think and trade BTC.
It's here to serve me, not the other way around. I have to make clever and thoughtful decisions if I trade it.
Nobody is paying me for being a Hero, holding BTC to the bitter end.
Instead we should follow the Pendulum that swings back and forth.
Be wise, not opportunistic.
From there we have a high probability to get at least a bounce.
I would not expect a trend change, since BTC is clearly following the bear market. And why wouldn't it?
BTC is a currency. People use it as a thing of barter the same way as with Fiat-Money.
What ever you use to buy, it's value comes from people believing in it.
So, if inflation starts to kick in (which it already has immensely) , the value of the "thing" ,be it BTC or Fiat, goes down. You have to pay more for the same goods as months before.
So don't stick in the false believe that BTC MUST go up, just because it's BTC, because it could free people from Fiat, because it's hip etc.
This is how I think and trade BTC.
It's here to serve me, not the other way around. I have to make clever and thoughtful decisions if I trade it.
Nobody is paying me for being a Hero, holding BTC to the bitter end.
Instead we should follow the Pendulum that swings back and forth.
Be wise, not opportunistic.