Many claim that you can not compare the bitcoin 1.33% 0.83% chart with a chart from 20 years ago. I wonder ... how do you know that? Have you tried it or what?
I keep writing it and do it again: It makes no difference whether the chart is from 1999 or 1840. Charts remain charts and they are created by the people, which is controlled by their fear, greed, optimism, pessimism and so on. What do you think why a year-long theory like that of Elliot still applies and is maintained?
Now please tell me where you see differences. Just look at the MACD . It's the same story and many do not want to learn from the mistakes of the past. But for us it is good, because we get the opportunity to earn many profits because of such people.
I do not have to say more. Do not be greedy like many others. Just because Bitcoin 1.33% 0.83% has fallen strongly since its ATH -0.47% -0.47% , it does not mean that it can not drop even more.
I'll keep you up to date when you can get back in. This year we will survive with profits!
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Looks like we are retesting short term the $9000 area like my comparison shows you. Lets see what will happen :)
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And we are dropping more. Very good. I hope you followed my advice switching to fiat and this is why. When I have time I will post an idea later :)
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By the way there is still a chance that we retest the $9000 area. Dont be so sure with the drop.
But I guarantee: we will see $4000-5000 next weeks.
Thanks for your update! I am still waiting for the good entry point. Around 10th of Jan my first gut feeling was to escape and go back to fiat because this all will just go back to the level of middle of November. I was too new on the market and probably too weak to beleive my gut feelings are the right . I just hodl, hodl, waited, (some sleepless nights also) and I still holding. And waiting for opportunity to get a good entry to make my average price better. I think this is the hardest time now for such a guys like me...My gut feeling was few days ago (around 6100) that this is not the end of the sad story; and I just listened to my gut: did not purchase.
But the train started to go up and up, I see the altcoins started to rise and each day feel I have missed the best opportunity to buy... However I am still pretty sure that was not the end.
When I see your posts it helps me to calm down and see through the hype made by the others; and at least to see that I was not alone who thinks that market is powered by emotions of the people.
E557
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Patience is the key
Zakir-Ahmed
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can happen .....if 8k wont support and can now drop to 4k..atleast
E557
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@ghose12,
$4000 is my target.
atricoz
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your graphs are very good, keep going on and thanks for sharing
Great chart! I agree with the big picture, it's just how the market cycles work. On the short term I don't think we're going to see 9k anymore. If it's following the previous 2 fractals (measured from lows on 22 dec > 17 jan and 17 jan > 6 feb) we're going to hit around 7k in two days time.
E557
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@shortster,
We will see. I would accept both scenarios because I am sure it will drop. Doesnt matter for me what others are saying.
dobrovan
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nice, man!
max69
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the fundamentals are different . the stock market is correcting which can push money into crypto. but will be interesting to see how it pan out.
But the train started to go up and up, I see the altcoins started to rise and each day feel I have missed the best opportunity to buy... However I am still pretty sure that was not the end.
When I see your posts it helps me to calm down and see through the hype made by the others; and at least to see that I was not alone who thinks that market is powered by emotions of the people.