Fellow Fools, Trader's and Crypto Enthusiasts. How are we all doing with this crypto carnage? Did you have your plan in place? Is it working? Whatever you you have or had going for you, we hope it's going as expected.
The current drop that is happening is one we have been anticipating and warning our subscribers about. While it's happening a little sooner than we anticipated, here we are with what's currently going on. If we study the last 2017 bull market cycle we can see that 30% drops are in fact very common place and happen frequently as the crypto market moves up. If you think otherwise, you are fooling yourself. We even had a 45% drop at one point during the 2017 bull cycle! Because of this it's important to be prepared and have some type of strategy that you are using to ensure that you are on track with the objectives you are trying to accomplish.
Currently, BTC has declined about 24% from it's recent high. The good news here is that it has almost cycled to it's usual 30% drop area. While 2017 was quite different, we can look to the recent past and see what happened. During that time we spike down quite hard and then rebounded almost to the high again before slowly declining over the next 2 weeks. While history doesn't repeat, it often rhymes and we could see something similar play out in the coming weeks.
Watch this BTC $45,000-$46,000 area, if this does not hold it invalidates this current thesis.
Cheers,
TCF
The current drop that is happening is one we have been anticipating and warning our subscribers about. While it's happening a little sooner than we anticipated, here we are with what's currently going on. If we study the last 2017 bull market cycle we can see that 30% drops are in fact very common place and happen frequently as the crypto market moves up. If you think otherwise, you are fooling yourself. We even had a 45% drop at one point during the 2017 bull cycle! Because of this it's important to be prepared and have some type of strategy that you are using to ensure that you are on track with the objectives you are trying to accomplish.
Currently, BTC has declined about 24% from it's recent high. The good news here is that it has almost cycled to it's usual 30% drop area. While 2017 was quite different, we can look to the recent past and see what happened. During that time we spike down quite hard and then rebounded almost to the high again before slowly declining over the next 2 weeks. While history doesn't repeat, it often rhymes and we could see something similar play out in the coming weeks.
Watch this BTC $45,000-$46,000 area, if this does not hold it invalidates this current thesis.
Cheers,
TCF
Comment:
From our past analysis, we got the spike up in BTC we were anticipating but not quite as high as we thought. From here, if #Bitcoin can't hold this $45,000 area, we are most likely going to see $40,000. Make sure you are laddering your positions and assessing your risk.
Opinions on Chart's, not financial advice.
