Dear fellow traders. Whenever Weekly Moving average 50 crosses above Weekly exponential moving average 50, bitcoin corrects heavily. Minimum target for bitcoin is 20k, maximum 9k-12k. Do not FOMO here.
See my previous analysis for further clarification
This is FUD and fear tactics - you must have shorted BTC? ...20k? lol.. This would break the macro 4 year cycle pattern completely during a time when BTC and crypto are gaining massive worldwide attention more then ever.. Nope, I don't think so lol. I think we've found a bottom (excluding a slim chance we test 42.5k) and we're looking toward 55k.. Take a look at some chart overlays and previous cycle comparisons to become educated on Bitcoin and where it's been headed since it's inception.
wanixarif
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@WillTMoney, He's delusional. it's not gonna happen but if it does it'll be a lottery for me since I'm waiting for a nice dip, but I'll ape in at 29K if it ever dips to that level....
You base this on two data points, one of which was caused by corona. I mean... come on.
DuchCick
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@Soepsoepsoep, man those news are still on. Just scoop it. I remember "rumours" of PayPal doing nothing. Once they scooped it into news few months later magic happened. We can just spread the religion like non functional vaxx, bad results in fin. reports, window dressing of folios and entropy might allow to trigger fear, panic and overlavaraged positions x)
Soepsoepsoep
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@DuchCick, that's not how markets work, markets freak out because they think other market participants will freak out. So corona caused a cascade of selling/long liquidations when it turned from small to significant very quickly. And then the hysteria ended, things sucked but the world didn't end, and bitcoin resumed what it was going to do after the halving anyway. Now markets can't be surprised by covid anymore, and there's also the confidence boost that bitcoin did great this pandemic.
kingpannu
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@Soepsoepsoep it was going to touch that point regardless. covid just fastened the process