So many different opinions right now. How to decide what to do? We are in so called no-trade zone, impossible to predict the next movement. Rise or fall, nobody really knows.
Majority of laverage positions were REKT already, more to come, I'm sure about that.
So as a trader, back off & observe the situation. Whitin a week or two the new support and resistance levels will appear and it will be clearer how to trade. But as an investor, for me this is a big opportunity to accomulate.
It is possible yes, that bitcoin falls to 3k level, uncertanty in the global markets is huge. It is also possible that we already touched the bottom, because many investors jumped in that crash and bought their fair share.
One thing is clear, and has to be clear to everyone. After halvening event the price can't sustain under 5k. Just can't. It will cost more to mine / produce one Bitcoin. Simple logic. Miners can't operate if the ROI is negative.
And Bitcoin can't exist without miners. The supply after halvening will fall drastically and with same demand as we have now, well that's pretty logic what that means.
No other rule indicator is more important that the core workers of the blockchain network and their business model - ROI.
Majority of laverage positions were REKT already, more to come, I'm sure about that.
So as a trader, back off & observe the situation. Whitin a week or two the new support and resistance levels will appear and it will be clearer how to trade. But as an investor, for me this is a big opportunity to accomulate.
It is possible yes, that bitcoin falls to 3k level, uncertanty in the global markets is huge. It is also possible that we already touched the bottom, because many investors jumped in that crash and bought their fair share.
One thing is clear, and has to be clear to everyone. After halvening event the price can't sustain under 5k. Just can't. It will cost more to mine / produce one Bitcoin. Simple logic. Miners can't operate if the ROI is negative.
And Bitcoin can't exist without miners. The supply after halvening will fall drastically and with same demand as we have now, well that's pretty logic what that means.
No other rule indicator is more important that the core workers of the blockchain network and their business model - ROI.
Comment:
BTC testing my nerves :D
Cmon ... finish above damnet.
Cmon ... finish above damnet.
Comment:
4th candle above support trendline.. Good sign :-)
If Bitcoin can comfirm the support trendline then we can expect sudden rise.
and if it fails.. then opening a short position would be a game to play.