0. Distribution 1. Sharp drop 2. Broadening wedge (accumulation) 3. Uptrust 4. Consolidation sideways (currently) or wedge 5. Sharp pull back to a trend line 6. Uptrust to previous high 7. Continue descend
Leave the coins at the door or hold the bag. Are you a bag holder? Take a stand in front of the mirror, turn to the side and take a look to your back, is there a bag or not?
Be carefull with this one.................
For the long term I am bearish until the ATH of 2013 around 1180 dollar, but for the short term we could get to 61% of the top to current bottom...
But yes it happens, the same wolf is after us and wants to shake those dollars out of our pockets...
Don't sell your coins yet. The party is not over yet and we might just be warming up for a sharp pull up. This move is called a spring or shake out. It scares the hell out of all the loose hands and that's why it is in use.
A comparison with previous reaccumulations...
If you want a high risk in % of losing your money you can better go to Vegas and have some fun with it.
Bull or bear market, we will have a correction
A comparison with previous distributions...
Fasten your seatbelts, in the coming weeks we will have a nasty correction for BTC. 0.5 to 0.618 retracement seems logical from the wave 3.2 to 14K. As the long vs short ratio is on an all time high. Everybody is probably high too.