Weekly log chart.Check the purple RSI line i have drawn:That's the true support/resistance bitcoin had for 6 years.
I still believe that since the support was touched more than 4 times during a 6 month period and didn't breake it,the glass became thiner,not thicker as everyone believes.
We also have Lower Highs,no new cash injected in this market,only fake news from sh1t websites like cnbc,newsbtc,etc. that are payed by the Exchanges to do their game.
Exchanges are the market makers,period.They need volume,thus they will fake pump this market non/stop but overrall it's going down to much lower levels.
Better let a few % pass by you till a New Trend is settled or a true bottom and accumulation Phase that lasts for many months starts,and don't get greedy when you see sh1tcoins pumping more than 50%,because if bitcoin drops 500$,those alts drop all those gains back.
I am greedy but greedy with a strategy.I will not risk my fiat now to make small gains when i can wait for much,much lower levels and scoop those Alts from the ground and make x10 and more further,i will not get caught right now in the bots,algorithms game,simple as that.
If the market reverses and goes UP from here,at least i wait for a confirmation that a new trend has started and we have a big INFLOW of cash into crypto before puring some of my own.
Cheers :)
I still believe that since the support was touched more than 4 times during a 6 month period and didn't breake it,the glass became thiner,not thicker as everyone believes.
We also have Lower Highs,no new cash injected in this market,only fake news from sh1t websites like cnbc,newsbtc,etc. that are payed by the Exchanges to do their game.
Exchanges are the market makers,period.They need volume,thus they will fake pump this market non/stop but overrall it's going down to much lower levels.
Better let a few % pass by you till a New Trend is settled or a true bottom and accumulation Phase that lasts for many months starts,and don't get greedy when you see sh1tcoins pumping more than 50%,because if bitcoin drops 500$,those alts drop all those gains back.
I am greedy but greedy with a strategy.I will not risk my fiat now to make small gains when i can wait for much,much lower levels and scoop those Alts from the ground and make x10 and more further,i will not get caught right now in the bots,algorithms game,simple as that.
If the market reverses and goes UP from here,at least i wait for a confirmation that a new trend has started and we have a big INFLOW of cash into crypto before puring some of my own.
Cheers :)