My views on bitcoin market in the short-to-medium term.
Expect 19k to come very swiftly before that being a strong support for the time being. If more sell catalyst comes and panic sets in, expect a drop to 13k (at which point many bulls will have capitulated and given up).
If you think this is 'it' when it comes to a bear market correction you are wrong. Too many crypto bulls and kids with parents credit card trying to get rich. The pain will soon set in.
The second lower high in the bear market rally much like 2018. Continue to observe and monitor. Regulation is coming from the SEC that will trigger selling, below 26-28k we will see liquidation from institutions that were late to the party.
https://www.teneo.com/app/uploads/2019/11/Smart-Money-668x275.jpg
Expect 19k to come very swiftly before that being a strong support for the time being. If more sell catalyst comes and panic sets in, expect a drop to 13k (at which point many bulls will have capitulated and given up).
If you think this is 'it' when it comes to a bear market correction you are wrong. Too many crypto bulls and kids with parents credit card trying to get rich. The pain will soon set in.
The second lower high in the bear market rally much like 2018. Continue to observe and monitor. Regulation is coming from the SEC that will trigger selling, below 26-28k we will see liquidation from institutions that were late to the party.
https://www.teneo.com/app/uploads/2019/11/Smart-Money-668x275.jpg