Bitcoin is crashing.
Below 30 K. Will it head to 26K, 24K or even 20K..
But will it bounce? Or confirmed bear market?
Wait and see.
Death cross has happened. Clear sign of bear market.
I made some bad trading decision. My early instict of getting out of the market was right but then I got greedy. Moreover, I was lazy in putting all the risk alerts.
So, Bitcoin bear is playing hands now.
Bitcoin below 50K. Now the question is "Is bull run over?"
Because we don't know the future, we can only look into past and see whether future rhymes with the past.
There's two scenarios - "Is this bull run similar to 2017-18 bull run or is it similar to 2013-14?"
The honest answer is that - we can't tell yet. If it's...
On the bullish note,
According to Fibonacci retracement, Bitcoin will try to reach ~26,500.
If that is crossed then, ~30,000$
On the bearish note,
Bitcoin will test November's closing price ~19,700. If Bitcoin can stay above, the bullish trend will continue. But if it breaks, then trend may reverse.
Bitcoin down from 18,000$. Heading towards 17,000$.
Possibly 16K or 14K.
See.. when Bitcoin was rocketing upwards towards 20,000, how euphoric it felt, everybody felt like they were missing the boat. Now, what do you feel when the market is crashing? FEAR. You feel like.. Oh, I did the right thing not jumping in the ship. Or, if you have bought around 18,000 or...
CRASH!!! Below 18,000$ now. Possibly it may go down to 16,000$ (15% decline) and bounce back. But if it continues to go below 16,000$, then trend is reversed, bear market starts and Bitcoin will not see an all time high soon. Or, it may be simply that, thanksgiving break started from today across USA, and everybody wants to chill for next 1-2 week!!
Greed and Fear...