BTC - So what can happen if we do break 6400 and move up ?
I believe we are still going down and will touch the 4800 area at some point - But If BTC does manage to move past 6400 currently and reaches 7k then this will just be a relief rally
to bring in new funds. These are some stingy bears but they also do need a fresh influx of funds to come in .
From 7k The bears could then pump BTC to just under 9000 around (8900) to trap new buyers and then proceed to drop it lower to the 4800 area to shake out weak hands.
This 4800 area is where I'm expecting a full bounce.
On the other hand if we don't make it past 6400 today, this weekend or early next week I'm expecting we will continue down to the 5400 area.
to bring in new funds. These are some stingy bears but they also do need a fresh influx of funds to come in .
From 7k The bears could then pump BTC to just under 9000 around (8900) to trap new buyers and then proceed to drop it lower to the 4800 area to shake out weak hands.
This 4800 area is where I'm expecting a full bounce.
On the other hand if we don't make it past 6400 today, this weekend or early next week I'm expecting we will continue down to the 5400 area.
Comment:
BTC - We are still in the "pump it" phase and getting ready to bring in the Buyers....
Comment:
We are now approaching the "bring in the buyers stage". Got to keep an eye on this BTC fellow.
Comment:
Im still bearish on BTC until we get past 10,000 - as i suspect we may be following this pattern to the 8900 - 10k area .
As we have seen from the previous drops these bears are stingy and mean and I wouldn't put it past them to be playing some tricks ,
As we have seen from the previous drops these bears are stingy and mean and I wouldn't put it past them to be playing some tricks ,
Comment:
BTC is still untrustworthy and id keep an eye on this graph - BTC is not bullish till its past 9900....