It has been a long week for many of us that are heavily invested into BTC and the crypto markets. Whenever we get these 20-30% corrections in a bull market everyone is talking about how this might be the end of the cycle. Fear has such control of traders that it seemed like a bounce was imminent. A friend of mine sent me a classic Dolly Parton song tonight and the words ring so true. Investing in Crypto isn't always glamourous. Sing it Dolly..
You just can't stand to see me happy
Seems you hurt me all you can
Still i go on loving you
But i never understand
Oh, the pain of loving you
Oh, the mis'ry i go through
Never knowing what to do
Oh, the pain of loving you
To love and hate at the same time
The line between the two is fine
But too has bound me heart and soul
So strong that i can't let you go
Oh, the pain of loving you
Oh, the mis'ry i go through
Never knowing what to do
Oh, the pain of loving you
Oh, the pain of loving you
But Remember BTC is up 536% this year! Remember to take a step back.
The strong support at the 47k mark held and most all leverage was flushed out reaching oversold territory not seen since last year. That being said we need to see more follow thru and I strongly suspect we will. The next major level we need to capture as a pit stop before getting back in channel is 55k. Watch buyers to continue stepping in and the Bears to continue covering their shorts as we gain momentum. The move from 55k-60k will be a very fast move as many don't want to miss out on this next leg. This last week reminded us again that Patience pays off. Success is not a straight line.. passing thru pain is mandatory to feel the glory of success and new All Time Highs. Stay the course.
BRONSON-TheSHARK
You just can't stand to see me happy
Seems you hurt me all you can
Still i go on loving you
But i never understand
Oh, the pain of loving you
Oh, the mis'ry i go through
Never knowing what to do
Oh, the pain of loving you
To love and hate at the same time
The line between the two is fine
But too has bound me heart and soul
So strong that i can't let you go
Oh, the pain of loving you
Oh, the mis'ry i go through
Never knowing what to do
Oh, the pain of loving you
Oh, the pain of loving you
But Remember BTC is up 536% this year! Remember to take a step back.
The strong support at the 47k mark held and most all leverage was flushed out reaching oversold territory not seen since last year. That being said we need to see more follow thru and I strongly suspect we will. The next major level we need to capture as a pit stop before getting back in channel is 55k. Watch buyers to continue stepping in and the Bears to continue covering their shorts as we gain momentum. The move from 55k-60k will be a very fast move as many don't want to miss out on this next leg. This last week reminded us again that Patience pays off. Success is not a straight line.. passing thru pain is mandatory to feel the glory of success and new All Time Highs. Stay the course.
BRONSON-TheSHARK