As the bulls have slowed their progress in BTC and other cryptos like the lonesome LTC in its push upwards, it seems a correction is definitely not out of the question for the coming months. The downward channel in BTC is still clear and still unbroken and as we see a push up to the top side of the channel we have had a large amount of resistance from the bears. It is a risky time to gamble on a position in BTC as a bull so tread carefully. I think a push to $3000 is possible, this is where we will see a large support if we fall that low. I hope that will be the bottom for BTC but nothing can be said for sure, we will just have to wait and see.
On another note, what if we see a short squeeze instead of a drop to $3000 as the bears are gearing up to short BTC? Im not counting on it but if this is all speculative then why not imagine what might happen on the flip side.
I am very much a beginner and just want to make observations and learn from them! My simple analysis is for fun and learning, please do not make trading decisions based on my observations - like I said I am just a beginner.
Thanks so much for reading my analysis, please follow me and like my post!
- Max K.
On another note, what if we see a short squeeze instead of a drop to $3000 as the bears are gearing up to short BTC? Im not counting on it but if this is all speculative then why not imagine what might happen on the flip side.
I am very much a beginner and just want to make observations and learn from them! My simple analysis is for fun and learning, please do not make trading decisions based on my observations - like I said I am just a beginner.
Thanks so much for reading my analysis, please follow me and like my post!
- Max K.