Been an emotional day for bears and bulls, and we still see no end to the torture. With ETF delays decreasing favors for the bulls last night approx 2200 hours, the bears took siege of btc and sent her down! Incredibly the bulls fought back and claimed price at 6500. However as the fight lengthened during the night, more bears decided to attack btc at its weakest point. Now we wait and step back and horror as our 6500 price is down to a whopping 6200! Will this be the end of crypto, or will the bulls wait for the daily to close and seize the price again!
Comment
⋅
As you can see the time to act for the bulls is closing! They must get the price over the blue line to let the surge of buys begin, but if they cannot succeed, the fate of btc will be sealed.
Comment
⋅
The closing for that critical moment has come and gone. Just as the movie GoodFellas portrayed our beloved joe Pesci getting made ..... (wack!), our btc has trapped people going low to do the same. Now I see a nasty down trend creating lower resistance price and lower support prices way deep into the 5k region.
As you can see the bands are pointing down meaning this bull ride (if there ever was one), is over.
Comment
⋅
Alright alright who trolled me and bought btc as soon as I posted my bear update?????? I trade stocks and you know I slip at times. The narrative I was missing was the larger time frame and how the bands looked... I won't make that mistake again you have my word!
SWitching gears now we going bull!
the lines I drew showing the angle of the bands which is up which is good! The wedge i drew is how i see it playing out if indeed we are now bull. Getting a firm hold on that 6500 range and build a solid support, we should see 6800-7k before friday.