Why BTC could hit 9.6-10k before a correction

14 May 2019

BTCUSD continues to climb and plenty of weak hands have been taking profits prematurely and missing out when it continues to pump. They fail to see how we could raise 78% from the point of our golden cross before any serious correction which is around 9.6k. That's because they aren't looking at the fact that btcusd did exactly that at the beginning of the previous bull market, or that litecoin did just hat just a little over a month ago after its golden cross. In both scenarios it rose 78% without correcting and then once the correction hit they dipped 31 and 41 percent. If we were to dip 31 percent off this bull run after reaching 9.6k it would put us around the dreaded 6,666 number crypto loves to gravitate towards. Now that longs on btc are finally starting to slightly outnumber the amount of shorts it tells us a correction is definitely on the not so distant horizon and to remain vigilant.