Hey guys!
Bloody bitcoin days. -10% .... everyone is crying.
So many people told me they sold their BTC, cryptos are dying. All chat programms exploding ... the usual business.
But ... we had this before. Several times. Its always the same.
Here are some reasons to stay in, or even buy:
1. Within the last 6 month we tested the 6000/6500 resistance area several times. With success. Its not very likely to break through this time.
2. We got an Elliott wave triangle correction which is almost completed.
3. RSI very low. We can expect a temporally pump. Maybe the new beginning of a bigger uptrend.
4. Bitcoin ran out of public focus. That is positive. It was very much overbuyed, and it' a natural correction. Bitcoin is getting healthier.
5. Psychological background. Without going into deep. When paniceselling stopped, we get a state of more people want to buy cheap Bitcoin, less people want to sell low ---> price will raise
Grab your balls, think logical ... but make bankrollmanagment and limit risk.
Happy trading!
!! Mention: That is my personal opinion, no trading advice. Its your money, your trade, your risk and your responsibility.
Bloody bitcoin days. -10% .... everyone is crying.
So many people told me they sold their BTC, cryptos are dying. All chat programms exploding ... the usual business.
But ... we had this before. Several times. Its always the same.
Here are some reasons to stay in, or even buy:
1. Within the last 6 month we tested the 6000/6500 resistance area several times. With success. Its not very likely to break through this time.
2. We got an Elliott wave triangle correction which is almost completed.
3. RSI very low. We can expect a temporally pump. Maybe the new beginning of a bigger uptrend.
4. Bitcoin ran out of public focus. That is positive. It was very much overbuyed, and it' a natural correction. Bitcoin is getting healthier.
5. Psychological background. Without going into deep. When paniceselling stopped, we get a state of more people want to buy cheap Bitcoin, less people want to sell low ---> price will raise
Grab your balls, think logical ... but make bankrollmanagment and limit risk.
Happy trading!
!! Mention: That is my personal opinion, no trading advice. Its your money, your trade, your risk and your responsibility.