Thousands of people this December were blessed coming into the Christmas season. Many traders and Bitcoin believers were given a multiplicative gift in their wallets (or exchange portfolio's perhaps). It was a wonderful time, many rejoiced. In the art of meme writing this would have been said as :
Such crypto, much rejoice.
It was not long after something happened. Everyone ELSE got their Christmas presents too. Bitcoin got smashed time and time again by (what is becoming) a long term downward pressing trend. BTC as it turns out, would retrace its steps, and give everyone who DIDN'T get to buy in cheaply - a second chance. In the art of the common tongue this would be said as:
Bitcoins are getting cheap! I can buy one!
Now we stare at the chart - and it seems impossible. Improbable. Inconceivable!
Bitcoin may retrace 78.6% and give everyone the best gift of the year.
I really doubt itll go back to 14k making a nice neat channel down. Reminds me of october-ish last year, when btc was approaching 6k and hit the top of the nice normal upwards trend. everyone expected a pull back to the support line @ 4k-ish. but as we all know, euphoria took control.
blessmywork
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@JpHenry, Thats how I feel as well. It's hard to believe we have been good enough to earn a 78.6% retrace this year! This is why in my other idea's I've called for the bulls to start acquiring. The compounding will make you happy whether you miss the absolute bottom or not, when it challenges the All time High resistance trend... haha!