Mo wtfuck ive been HODLING but im shitting myself now???
Welcome back folks, a very boring last couple of days but not too worry, Mo is here with the insight. Consolidation is necessary, the direction is setting itself and im still all like bear in the woods type feeling. Following on from my previous posts, ive decided to update BTC as theres not much different to follow on from my XRP view.
I use the daily because i like big pictures rather than analysis on 5minute timeframes which can be bullish for like 10 minutes and bearish for the next 50mins! A lot of indications on the 4h are very similar to the daily, currently sitting precisely on the 6.5k support and the daily just piercing this region. A bull flag is forming and im expecting trading to stay within the blue indicated rectangle which lies precisely between 2 support groups, weve seen a huge dildo drop from 7.7k- 6.6k...my god that was exciting all within a few hours! Bet most of you were out drinking on a casual saturday pub crawl and thats when the bears attacked, lucky you were at least tipsy so didnt panic too much! From then the market has calmed down, theyre sitting around their poker table with their fancy chips analysing their next move, big drops need a relaxation period which is what youre witnessing now, little move up but failure to break above the 7k...in all honesty not even getting close to breaking up. The buy pressure is weak, the candles are red after red, ive said this many times but the market is telling me we need a new low, we need to shake out a few more weaker hands, few more mooners and FOMOers.
I dont like posting with a short title because im all about going long but getting in at the best prices....for now im bearish but i aint touching any trades until the direction is set and the price is worth it.
Anyway enough blabbing on.....lets not be too sentimental! I expect a break of the bull flag on the 4h timeframe to 6k, at which point i dont see much hope left and the much anticipated 5.5k region will be in sight. My advice? start laddering from 6k down , panic sets in , price could well drive to 5.5k and then 4.5-5k region.
A lot of people like XRP so ill add a little note here...XRP is clinging onto 0.55 cents, as BTC is clinging onto 6.5k ...when (and if! for the hopers) BTC breaks under expect XRP to crash down to 0.45, BTC at 5.5k you ask? I fully expect XRP to hit onto 0.3-0.4 region....SBI is coming July 2018 to the public so i think that someone provides a rope for XRP and we could see a good bounce around the 0.4 region.
For me the bull market isnt far off, dont panic, relax and buy in sensibly. As always if the price is right for you do what you gotta do, dont leave stupid comments because you dont believe price can reach that low (i appreciate fair critiscism and insight/views) but most the hate is from the same people that posted about 100k BTC when we last touched 10K.
Be safe, trade wisely and for the long term youll be fine. Always learn from mistakes and let the market do its things...and remember little moves from 6.5K- 6.9k doesnt mean its a bull run!
If you like what im saying, give it a thumbs up! need some more popularity up in here!
I use the daily because i like big pictures rather than analysis on 5minute timeframes which can be bullish for like 10 minutes and bearish for the next 50mins! A lot of indications on the 4h are very similar to the daily, currently sitting precisely on the 6.5k support and the daily just piercing this region. A bull flag is forming and im expecting trading to stay within the blue indicated rectangle which lies precisely between 2 support groups, weve seen a huge dildo drop from 7.7k- 6.6k...my god that was exciting all within a few hours! Bet most of you were out drinking on a casual saturday pub crawl and thats when the bears attacked, lucky you were at least tipsy so didnt panic too much! From then the market has calmed down, theyre sitting around their poker table with their fancy chips analysing their next move, big drops need a relaxation period which is what youre witnessing now, little move up but failure to break above the 7k...in all honesty not even getting close to breaking up. The buy pressure is weak, the candles are red after red, ive said this many times but the market is telling me we need a new low, we need to shake out a few more weaker hands, few more mooners and FOMOers.
I dont like posting with a short title because im all about going long but getting in at the best prices....for now im bearish but i aint touching any trades until the direction is set and the price is worth it.
Anyway enough blabbing on.....lets not be too sentimental! I expect a break of the bull flag on the 4h timeframe to 6k, at which point i dont see much hope left and the much anticipated 5.5k region will be in sight. My advice? start laddering from 6k down , panic sets in , price could well drive to 5.5k and then 4.5-5k region.
A lot of people like XRP so ill add a little note here...XRP is clinging onto 0.55 cents, as BTC is clinging onto 6.5k ...when (and if! for the hopers) BTC breaks under expect XRP to crash down to 0.45, BTC at 5.5k you ask? I fully expect XRP to hit onto 0.3-0.4 region....SBI is coming July 2018 to the public so i think that someone provides a rope for XRP and we could see a good bounce around the 0.4 region.
For me the bull market isnt far off, dont panic, relax and buy in sensibly. As always if the price is right for you do what you gotta do, dont leave stupid comments because you dont believe price can reach that low (i appreciate fair critiscism and insight/views) but most the hate is from the same people that posted about 100k BTC when we last touched 10K.
Be safe, trade wisely and for the long term youll be fine. Always learn from mistakes and let the market do its things...and remember little moves from 6.5K- 6.9k doesnt mean its a bull run!
If you like what im saying, give it a thumbs up! need some more popularity up in here!
Comment:
*bear flag. (3hours sleep...!)