Yesterday I posted this:
There I wrote:
This inclined ground seems solid enough to withstand the pressure of the BEARS till now, also the Stochastic and RSI indicators seems to show a good rebounding status to avoid the fall but, if eventually this support is broken by the BEARS we may see an acceleration of the fall bringing BITCOIN just below 5900 USD, which is another historical long term support.
Hope we see just a continuation of the Higher Lows Trendline because in negative case, this Market "agony" will be much longer...
...and this is what we have, at least at COINBASE:
The Red dashed-line was the LIMIT I was claiming in case the Dark-Blue Dashed line was broken.
As you can see, as soon as BTC broke that Blue line, the accelerated drop occurred...And it has broken as well the LONG TERM SUPPORT
The price has had some resistance at 5700 USD but the most likely is that it will fall lower, since if I try to count subwaves I can only see 4 of them at the 1h chart.
I have one idea that, since a few days ago, is haunting my head and it is the possible relation of the BCH failed bull run due to tomorrow's hardfork and the sudden drop we have seen today, just 24h ago the event. Again, I think the market is purely manipulated.
Sorry for the expression but these "Bullshit" events and the messy fight of the two BITCOIN CASH vision don't help in order for the market to grow in a healthy way.
As a positive reading I may say that I have been claimed for a drop like this since months ago. My "Buying zone" was only from 5900 USD downwards because this is what technically seemed to be the most likely level.
Now, what I see is that some of my buying entries have been triggered and I am happy for that.
Hope some whales consider this point a good entry as well.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently.
Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
Published on
by toofasteddie
A clear capitulation is taking place, triggering all stops from many traders as they finally take losses. We should see the final market reversal after it.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Indeed is what I thought... but with the BCH still on play I’m afraid we are going lower
Posted using Partiko iOS
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@toofasteddie, I was almost sure BTC would drop below $6000. That is why a month ago I did this video analysis.
In my view, there is a very high probability that within the next 1 year BTC will trade lower than $6500 (because I don't think the scalability issue of Bitcoin will be solved in the next 12 months, It needs a lot of time). It can even reach $3500-$4000. In this case it will be a good opportunity to buy and pile up crypto.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
What can I tell you, I fully agree with your BITCOIN video which fully align my vision 1 month ago. Regarding reaching 3500$, of course it could be, or even lower why not... now it is difficult o say but if BTC reaches 3500 it would mean that total Market cap would reach less than 100 Billion and so, it is difficult to swallow...but it could happen
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Check out the top post of my blog , i told people what to expect over the next year. I am calling this the bottom or near bottom and i say why. Good posting, your upvoted.
OOP Games & Hobby "upvote everything all the time"
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit