Many, many people are waiting for Bitcoin to drop just because it is time for it to do so.
No, wait... Many people are waiting for Bitcoin to drop just because the chart signals and technicals say so...
Let me try again... So many people are waiting for Bitcoin to drop just because it has gone up so much...
Confession: Let me be honest, I've been a victim of chart patterns and signals before, they are very convincing and overall they tend to work.
But I also have to admit that we can blind ourselves when it is time to perceive, a different reality which is not what we want to see... And for this reason, I say...
BITCOIN WILL DISAPPOINT MANY PEOPLE... Because they are waiting for Bitcoin to go down, but there is no reason for it to do so.
There can be many bearish signals, but the market has a life of its own.
At the most, I am looking at sideways consolidation, we can't be bearish if we continue trading above EMA10.
So if BTCUSD remains above this level, expect for it to go higher and reach the next resistance, our next target.
Where do you think that Bitcoin will go?
We are headed to $10,000... Regardless of the signals, the bullishness lately is just way too strong.
We can't have a bearish Bitcoin when everything we are seeing is just pure growth.
What's your take on this view of mine?
Please share your thoughts on the comments section below.
This is Alan Masters, thanks a lot for the continued support.
Namaste. P.S. I will share support and resistance levels in my next update.
@marcosfelipecfbr1, Thanks a lot brother, your comment is truly appreciated.
ReallyMe
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Yes it might disappoint many people, indeed
But WHY?..
I can try to explain from a larger perspective, based on my idea of 4-Jan-2019
So far everything fits
AlanSantana
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@ReallyMe, That's your ABC count? We will see how that goes...
ReallyMe
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@alanmasters, Yes, that's my count. We might be going through the A-B-C correction of a Bitcoin Supercycle:
I have been having the exact same gut feeling about bitcoin. Problem is my gut feelings tend to be correct about half the time, and I don't even pretend to be a technical analyst.
AlanSantana
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@ApresVous, If the majority believe it is going down, it must drop and it has to go down for whatever reason... Then I believe it will continue going up until people change their mindset.
WBM_Team
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BTC- volume is down, the price remains strong it means another squeeze is expected