The bounce has happened in the very intersection of the correction and long term trend lines , see my previous idea to see that I haven't moved the trend lines I draw.
Someone has bought in the very dips. Maybe banks, companies, hedge funds realised they were outside the game, pressed their governments to announce regulatory news that will never carried, waited the market to drop to the exact price of 6000,1$ and buy all over. Just some thoughts...
We might recover the short term super-bullish term, but don't think such amount of money as before will come that easy. A lot of weak-hand and newcomers have got burned. I expected this "bounce" to rise BTC to a 10k level and then slow down to the mid term trend. Also we'll see a lot of bounces caused by people that had had enough and want to HODL anymore, buy a nice Nissan micra and get their lives back.
Someone has bought in the very dips. Maybe banks, companies, hedge funds realised they were outside the game, pressed their governments to announce regulatory news that will never carried, waited the market to drop to the exact price of 6000,1$ and buy all over. Just some thoughts...
We might recover the short term super-bullish term, but don't think such amount of money as before will come that easy. A lot of weak-hand and newcomers have got burned. I expected this "bounce" to rise BTC to a 10k level and then slow down to the mid term trend. Also we'll see a lot of bounces caused by people that had had enough and want to HODL anymore, buy a nice Nissan micra and get their lives back.
Comment:
Seems BTC is settling on the mid term trendline...
Comment:
Wawowiwowiwa!
BTC run due to Spain winning the first Winter Olympic medal after 26 years. This has driven the South Korean traders to push BTC to 9999$ during the night after such event.
Also South Korean government has announced their will to regulate the crypto exchanges, providing a license for the platforms in order to be more transparent, rather than prosecute them. This might also had an impact in the market sentiment in the last hours.
BTC run due to Spain winning the first Winter Olympic medal after 26 years. This has driven the South Korean traders to push BTC to 9999$ during the night after such event.
Also South Korean government has announced their will to regulate the crypto exchanges, providing a license for the platforms in order to be more transparent, rather than prosecute them. This might also had an impact in the market sentiment in the last hours.
Comment:
Seems that the bounce was to 11800 USD. I hope the dump is from people that got burned or from people that bought on the dip and what some cash.
We'll see if it recovers the mid term trend line
We'll see if it recovers the mid term trend line