from a psychological perspective, it makes sense to me. one last suckers rally to really suck in the suckers, followed by the final hammer to make everyone lose hope forever.
from there, we ride. π
cruel, but that's the ponzi for you.
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anything is possible though, so choose the side you believe the most, and make sure to have a stop loss just in case.
i always inverse the majority though, and this mans idea makes the most sense to me right now.
good luck, and have a blessed week πΈ
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ps. there were no endings in this world - only new beginnings.
Good analysis, thank you for sharing and I agree. My earlier analysis was the 15-18k range, however BTC has been holding up well around the 30k range. Because of this I moved my previous predication up to 23-24k area. I believe this area will be tested again and show strong support. After creating a strong base then BTC can move through the 60k range and above.
This correction is healthy in order for BTC to continue being the strong leader its been.
Eloquent
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@works2020, agreed - there was something slightly off about this move up which i couldn't quite put my finger on.
there are many things that can happen from here; but with the stock market being shady these last few days & the inflow of money into crypto coming to a halt these last couple of minutes
it makes sense that this was yet another trap. a really good one too.
btc is currently in a very strong squeeze right now. if it fires off to the upside and we over take this descending trendline, then we could probably make a bull case.
for now though, just to be safe - i am protecting my capital.
jazerbay
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Busta Rhymes disagree,
Great work mate.
Eloquent
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@jazerbay, peep the newest idea \\ we figured out what's going on after a lot of headache lol
This correction is healthy in order for BTC to continue being the strong leader its been.