This commentary is not Financial Advise. It's just my personal view.
On the Daily chart the RSI is approaching 30. Still has a bit more to go before reaching it. Yeah, $7,200 range is possible for the next two days. The Stoch RSI is almost at zero, indicating no momentum in the downtrend. And its has bounced up and down to rest back at almost zero (very unusual). This for me is an indication of the bottom. I have stop looking at the lower time frames. The daily chart shows a very different view than the lower time frame charts. Look back as far as you can and see how many times the RSI has dragged sideways below, or at 30, before, not many times, right? Almost every time it goes below 30, it bounces up like a rubber ball hitting the ground.
My opinion on this, is that we are being manipulated to believe that $3000 is the target, to make us sell with the hopes to re buy cheaper. When the automated bots and whales, that buy outside of the visible order book, start buying, whoever is not fast enough, will see little cash in his/her hands and the price doubled within minutes.
How do you know when the big whales are jumping in with new money? They are looking at the same daily chart that we are. The RSI nearing zero and the zero momentum signal, may be their trigger. How low will the RSI have to go to hit $3000? Again, look back in the chart and see it by yourself.
All the FUD is mental, there have been a ton of good news in crypto lately, like LN being tested in the main-net. The ABRA phone app for trading and use as a wallet and many other good news. There is no real reason for FUD. The G20? who cares about that? Governments (who are owned by the banks) are obviously against crypto. Aren't we supposed to be giving the middle finger to them? Are we waiting for the G20 members to give us the thumb up or down? That's pathetic folks.
"El toro" will win!!
On the Daily chart the RSI is approaching 30. Still has a bit more to go before reaching it. Yeah, $7,200 range is possible for the next two days. The Stoch RSI is almost at zero, indicating no momentum in the downtrend. And its has bounced up and down to rest back at almost zero (very unusual). This for me is an indication of the bottom. I have stop looking at the lower time frames. The daily chart shows a very different view than the lower time frame charts. Look back as far as you can and see how many times the RSI has dragged sideways below, or at 30, before, not many times, right? Almost every time it goes below 30, it bounces up like a rubber ball hitting the ground.
My opinion on this, is that we are being manipulated to believe that $3000 is the target, to make us sell with the hopes to re buy cheaper. When the automated bots and whales, that buy outside of the visible order book, start buying, whoever is not fast enough, will see little cash in his/her hands and the price doubled within minutes.
How do you know when the big whales are jumping in with new money? They are looking at the same daily chart that we are. The RSI nearing zero and the zero momentum signal, may be their trigger. How low will the RSI have to go to hit $3000? Again, look back in the chart and see it by yourself.
All the FUD is mental, there have been a ton of good news in crypto lately, like LN being tested in the main-net. The ABRA phone app for trading and use as a wallet and many other good news. There is no real reason for FUD. The G20? who cares about that? Governments (who are owned by the banks) are obviously against crypto. Aren't we supposed to be giving the middle finger to them? Are we waiting for the G20 members to give us the thumb up or down? That's pathetic folks.
"El toro" will win!!