Bitcoin : possibly starting a "slow and long decline" pattern.
Hi traders,
Bitcoin seems to start having symptoms of creating a pattern structure of slow and long value decline, as it yet appeared during the previous crashes.
This pattern is the most likely pattern to be foreseen in a near future, unless some whales and/or institutions suddenly decide to inject trillions of dollars in this market, which is extremely unlikely at the moment, but why not.
Good news : if we enter this period of slow and long decline, or why not a long stagnation of value with low volatility (Futures taming effects seen with Silver and Uranium), this would create a solid buy opportunity during very specific areas of the pattern.
If this pattern is visible, verified, and looking healthy, then i will give a clear long term buy opportunity signal.
Bad news : nothing is certain in life and in markets. It seems 99% of the persons are feeling certain that cryptocurrencies Market will create new bubbles, with new all time highs.
This is absolutely not a certainty, i know we are used to and witnessing new bubble cycles with new ATH since 2010, the brain is pushing us to foresee what we are used to see and what we want to see, but markets could behave differently, especially with Futures existing for Bitcoin.
Cryptocurrencies are in some sort of early stage, so i would agree we could witness more bubble(s) to come. But this is absolutely not a certainty, and it might take 6 months, 1 year, 2 years for Bitcoin to recover. Nobody knows.
Stay safe and realistic, i wish you successful trades.
Bitcoin seems to start having symptoms of creating a pattern structure of slow and long value decline, as it yet appeared during the previous crashes.
This pattern is the most likely pattern to be foreseen in a near future, unless some whales and/or institutions suddenly decide to inject trillions of dollars in this market, which is extremely unlikely at the moment, but why not.
Good news : if we enter this period of slow and long decline, or why not a long stagnation of value with low volatility (Futures taming effects seen with Silver and Uranium), this would create a solid buy opportunity during very specific areas of the pattern.
If this pattern is visible, verified, and looking healthy, then i will give a clear long term buy opportunity signal.
Bad news : nothing is certain in life and in markets. It seems 99% of the persons are feeling certain that cryptocurrencies Market will create new bubbles, with new all time highs.
This is absolutely not a certainty, i know we are used to and witnessing new bubble cycles with new ATH since 2010, the brain is pushing us to foresee what we are used to see and what we want to see, but markets could behave differently, especially with Futures existing for Bitcoin.
Cryptocurrencies are in some sort of early stage, so i would agree we could witness more bubble(s) to come. But this is absolutely not a certainty, and it might take 6 months, 1 year, 2 years for Bitcoin to recover. Nobody knows.
Stay safe and realistic, i wish you successful trades.
Comment:
Forgive my phone keyboard for the uncorrect typo.
Comment:
When you don't understand what is happening to a market, that makes you think it is moving in a complete non rational way with no logics behind it, the wisest and recommended move would be to trade other markets and forget about the market you don't understand, until you feel like you start to understand it better after some time.
Comment:
Another free Fibonacci bottom finding
If it manages to stay over its green bullish line, the won't be any slow and long decline pattern.
If it breaks below 7.200 and closes below, i expect a 6.600 area retest, with a small bull trap, that would lead to a dip below the 6.000$ area.