Tendorian

BTC March 16th, Capitulation phase it is

BITTREX:BTCUSDT   Bitcoin / Tether
Looking at how bearish the price action is, it seems more and more likely that we will be seeing a capitulation phase of the bubble. Yesterday's bar was a doji but price has started to crashed now in this early hours. We may be looking at a low of around $3000, that is the potential targets when using fib extension. With this fall, all altcoins will suffer even worse. My predictions of buying certain altcoins at a certain price has to be revised lower if BTC was gonna crash to such low panic levels. But with the crash we will be able to see which coins are trash and which can survive. And we will buy those that survive this crash. If you are on margin or leveraged in buying anything, I highly suggest to let them go and wait for better levels to buy. If you are using money you can lose, you may need to wait for few months for this market to recover because when BTC crash to 3k, noone will ever want to buy it, it will take a while to recover from such market disgusts. Salute to the hodlers.
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