We are in very dangerous waters right now. As I have been warning all day, a major #BTC correction is underway. While most believe that we will only see a correction to 45k, that very fact can create the kind of overleveraged exposure that bears thrive on. 45k seems like a very crowded trade. Typically, a parabola once broken can result in a correction of up to 80% ! I certainly hope this is not the case. A correction of that magnitude would put us back at 11.5k. Bitcoin failed to hold up the last time there was a world wide market crash. Today several government leaders are warning that a crash is imminent. Can Bitcoin break away from its correlation with the S&P 500 in the event of a market crash? In March of 2020 it failed to do so. We can only hope for the best, but it is wise to protect the gains we waited 3 years for. Is this the end of the 2021 bull run? That is yet to be seen. Personally, if this keep going up I won't cry about it. I'd rather keep what I've made, than give it back to the market as so many did in 2017. That's not to say that you can't try to scale into long positions at the pivot and support zones, but as of right now, I am out of crypto.
Note: I will continue to mine #Raven Coin no matter where the price goes because I am a firm believer in the project and support the Raven community. I know that one day all of the time and energy I have spent will be rewarded.
Good night all. Stay safe and I hope to see you soon with better news than this.
Note: I will continue to mine #Raven Coin no matter where the price goes because I am a firm believer in the project and support the Raven community. I know that one day all of the time and energy I have spent will be rewarded.
Good night all. Stay safe and I hope to see you soon with better news than this.