BTC/USD : Will the History Repeat itself? (6K SOON)
April 25 Dropdown from 5500 to 5100
There is some similarity between 2017 and 2019 in the way in which we bottomed from $5k->3k 2017 and broke back to $5k.
I Have checked more than 24 Charts of #BTC today. Most are in a mindset of history to repeat itself.
Charts history confirms that we are in a look-alike scenario like 2017 : 2019 in the way we bottomed from
5000 to 3000 and then broke back to 5500. However: We can't forget the fact that things were moved 10x faster in 2017 then 2019 Due to Regulators, Tether FUD. etc.
So we can't expect the market to act like it's acted in 2017. If you do - You will be punished by the bulls or bears.
If you follow the market since 2019, you were witnessed to a clear path of a bear market. In the last 2 months, we finally
broke the prices range of 4000 a few weeks in a row. This testifies that the bear market is over. at the same time, Never say never. in crypto: everything can happen.
As I see it now. The cards are still on the table. The Bears is relaxed, the Bulls is in the lead. I would say. 51% to the bulls
50% to the bears. Right now it's will be not responsible to decide which way I should go: long or short. I would wait for 5600 to broke and then place my long
order. Other than that - I will not take any action yet until I have a clear picture.
There is some similarity between 2017 and 2019 in the way in which we bottomed from $5k->3k 2017 and broke back to $5k.
I Have checked more than 24 Charts of #BTC today. Most are in a mindset of history to repeat itself.
Charts history confirms that we are in a look-alike scenario like 2017 : 2019 in the way we bottomed from
5000 to 3000 and then broke back to 5500. However: We can't forget the fact that things were moved 10x faster in 2017 then 2019 Due to Regulators, Tether FUD. etc.
So we can't expect the market to act like it's acted in 2017. If you do - You will be punished by the bulls or bears.
If you follow the market since 2019, you were witnessed to a clear path of a bear market. In the last 2 months, we finally
broke the prices range of 4000 a few weeks in a row. This testifies that the bear market is over. at the same time, Never say never. in crypto: everything can happen.
As I see it now. The cards are still on the table. The Bears is relaxed, the Bulls is in the lead. I would say. 51% to the bulls
50% to the bears. Right now it's will be not responsible to decide which way I should go: long or short. I would wait for 5600 to broke and then place my long
order. Other than that - I will not take any action yet until I have a clear picture.
Comment:
Long order has been placed since we hit 5600