biffbifford

Bears Owning ETH: Fear Rules ETH

BITFINEX:ETHUSDSHORTS   ETHUSD Shorts
This is a structured Bear market. Nothing is random. The price action completely manipulated by the big money making way for lower prices and scaring away new investors while driving away those who have seen their crypto investment turn negative, leaving them with the empty promises of new ALHs by years end. There is no stomach for a hard short squeeze. I am buying here and there with a long-term strategy in play. The question remains; when will the Bears let it go? Will the Longs step in to take it to new short-term highs? The last big squeeze brought all the Longs out to cheer for the possible trend reversal while the Bears left them a small bit of hope and a very long wick on that daily candle. The bears moved us lower with smaller and smaller squeezes making room for some scalping. Now we sit bobbing in the cold waters with little waves of hope splashing over our heads but keep us from fulling drowning all the while seeing the writing on the wall -- we will head lower, even if there is a small squeeze. We will head lower even if there are small bounces in price and a short-term consolidation period which looks favorable to the bulls.

Cryptos are saturated and are being returned to their maker waiting for a revamp in technology, wider acceptance worldwide and a reason to exist for reasons other than to hide money, make questionable purchases, and speculate in the crypto-market. It's a sad story, but I have been telling it -- few have believed it -- and here we are now to witness it! My original price prediction for ETH was $25 dollars. I believed it when I wrote that then, and I still believe it now. Let's pray I am WRONG, or for the people waiting to get in, let pray, I am right.
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