Hello fellow traders! As Bitcoin continue south of the border, there may be a pit stop at $5000. If the bulls can sustain that last trend line, there may be some hope for a temporary pullback to $6000 for a resistance test. As of today, Bitcoin has dropped $1000 in 12hrs. and may drop more. Queen Bear is heading south really fast like a speeding bullet to go straight through that 6k. I did a paper trade on bitcoin selling and made 35 million dollars at the $7250 price. Let me know your thoughts and where the price will stop at.
So the banks broke support yesterday with $74 million, did they sell out of everything or is it likely they have more bitcoins to sell when another opportunity to crash the market comes, or will they buy back in and sell after a pump?
MrPipa
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It’s a lot of big walls and major support down there. We’ve knocked on the door a few times already and eventually that door will open. I think it’s coming.. just not completely convinced it’s now. Maybe October
Badricio
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Hey! Great work! Dont you think it will go up a little bit before it falls like ure calling ?
AlphonsoElliottJr.
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@Badricio, I dont think so.. it is too sharp. 2 days of bearish candles sucked up over 12 days of candles.. Not good. Too many people bought so high at the top. Lets hope 5k holds. I would not get in until I see bullish confirmations.
Badricio
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@AlphonsoElliottJr., Great! Thank you! Keep up with ur good job!