Here are the technicals. What I currently see:
1. DAILY in Negative Territory and slowly moving down
2. sloping down
3. WEEKLY moving into negative territory
4. Looks like a massive , doesn't it? Not perfect, but we had a lower high, a lower high, another lower high... same psychological type pattern.
The technicals support a move DOWN. The patterns support a move DOWN. So change my mind that we are going to 4k? Wait! Before you do, lets examine a few other things!
1. BTC searches are where they were a year ago! Look at this chart, we have BTC searches spiking in DEC when we hit our all time high, then crashing shortly after. Eeriely close, isn't it?!
2. From what i have heard in the "nether" is that new client accounts that are being opened are down. I can't find any direct statistics on this, but if anyone know one way or another, please post.
Tell me why BTC is going up from here, lay out some facts and let's hash it out.
Because right now, BTC is going to 4k. Change my mind.
P.S. What if BTC doesn't go to 4k? Am I terribly wrong? Hopefully all you did was manage your risk accordingly and you still made money! Things I will be looking to the charts to change my mind for me. BTC breaks this trendline and support at 9k. MAJOR news, more search traffic in BTC . But we aren't getting those right now!
My past calls:
The play is a bounce off of this 7000 area to 8k with appropriate laddered positions. The thing that we DON'T want to see is BTC slowly drifting down towards 7k in a death march. To me, that would indicate we would get more of push past that major support and not a major bounce. The reason being bulls would be exhausted. But, that is more speculation as we would need to see how BTC reacts as it gets closer and how it does it.
2. RSI has found support at known support level and has bounced off,
3. On weekly there is still less and less sellers.
4. Pennants are short-term patterns that can last from 1 to 12 weeks.
Do I need to say something more? This isnt a proper TA just you want the price to go to 4k, which wont happen.
Bashing someone without facts or supporting data while using poor grammar doesn't help your case either.