Bitcoin has been in strong Bearish Trend during this whole week because of various FUD's. South Korea cryptocurrency banning rumors have negatively affected the market and due to this, all the crypto market had come into downtrend.
A week ago, the market capitalisation which was holding strong at $825 Billion, now has fallen to $575 Billion and falling while we speak.
Now, if talk about Bitcoin Technical analysis, then it has broken the strong support at $12500 and now it might be heading towards $10500, the next strong support.
Panic selling are happening in this moment and all the Alt coins market have come into complete downtrend.
If you're holding some Alt coins in your portfolio, then please use stop loss for all your winning trades and don't see your loosing positions as the market will recover as soon as BTC would become stable.
Don't panic sell your Alt coins as you'll regret later once the market become stable and every other alt coins starts pumping. Instead, use your cash/Btc to take some nice positions in your favorite alt coins once the market become stable to some extent.
Thanks for reading ...!!
That was a strong resistance that it broke but like you said it will be fine when the market corrects!
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Yes! HODL! If you happen to be a bag holder I am with you all guys. If you still panic and can't sleep, all you need to do is unplug your network cable make sure you can't online, take a few day MC. Go see your doctor tell him you are sick and need MC for a few days. Symptoms depression on bearish, braincoin fevers. So you could sleep good for few days.
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This is the best post in Steemit..🔥🔥🔥 upvote :)
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Thanks Doctor Steemit. Recent market is hurt a lot of us. We need some relaxation to make better decision. The only way to balance my emo, is buy and buy. If drop everyday i buy everyday. P/S: though i buy everyday but i not buy much. Wish everyone filthy rich.
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!!!
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Nic post
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Great analysis, in few days market is stable.
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I disagree with where your support is. While the longer term support is somewhere between 9000 and 10000, the shorter term support is actually closer to 11k.
What I'm saying is that it could fall to 10k, but more than likely it has already decided not to unless there's a much bigger catalyst coming than just FUD.
Either way, I had the luck of leaving the market just hours before the correction and will be buying back in.
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