Hey all,
Decisions to make all over the place today! General market sentiment suggests people are going Long across the board - does this mean prices will rise? In theory - Yes, in practice - Not really...
It doesn't matter about the total percentage of people who are net long or short, what matters is where the majority of money is heading - 1% of people hold 99% of all money (or something along those lines!)
So, as you can see from this (pretty equal) triangle formation it really could go either way, everyone likes to think it'll pump up to $200+, and we're sure it will sometime soon, but maybe not today - the longer rising leg of the triangle suggests HH's and HL's so things are looking Bullish, in a few hours, once we're out of this triangle!
There may be a drop of 2-4% to $182 as we escape the triangle, whether this blasts up to $200+ afterwards is for you to decide; we are, however, staying Bullish on this one for now.
Keep your eyes on this space!
-theCrypster
Decisions to make all over the place today! General market sentiment suggests people are going Long across the board - does this mean prices will rise? In theory - Yes, in practice - Not really...
It doesn't matter about the total percentage of people who are net long or short, what matters is where the majority of money is heading - 1% of people hold 99% of all money (or something along those lines!)
So, as you can see from this (pretty equal) triangle formation it really could go either way, everyone likes to think it'll pump up to $200+, and we're sure it will sometime soon, but maybe not today - the longer rising leg of the triangle suggests HH's and HL's so things are looking Bullish, in a few hours, once we're out of this triangle!
There may be a drop of 2-4% to $182 as we escape the triangle, whether this blasts up to $200+ afterwards is for you to decide; we are, however, staying Bullish on this one for now.
Keep your eyes on this space!
-theCrypster