btc trend: FA & TA
I see many people saying btc is going to break support level, fall below 6k, remain in a bear trend for years before this market reverses. There is a lot of speculation that tether is going to blow up and will cause btc and all other coins to plummet in price.
On the other side, many people are saying the market has corrected, we have broken resistance, and are gaining momentum for a powerful upward move to 20k+.
I believe the market is going through a major correction and if your like me, new to trading and have lost money from false signals; this is a great time to practice patience, trade short, and simply wait for the market to stabilize. Looking at btc from a TA standpoint, a 1-2 year correction is not only possible but would absolutely make sense. With that being said, I believe most chartists do not factor in fundamental analysis that makes btc movement so unpredictable and why btc always exceeds expectations despite all the FUD in this space. I believe in the technology behind cryptocurrencies and in 1-2 years this technology will grow exponentially, and the block-chain will become part of everyday life and eventually become a multi- trillion dollar market.
On the chart I have drawn some possible support/ resistance (buy/ sell) points we may see btc test in the coming days. Just keep in mind the following:
As of right now, we ARE still in a bear market.
There are still a ton of lil baby pussy ass weak hands holding btc that will sell for a loss the moment the market bleeds again.
There are many people who do not understand this technology who will spread FUD in the market if you believe in this tech like I do, you will HODL.
On the other side, many people are saying the market has corrected, we have broken resistance, and are gaining momentum for a powerful upward move to 20k+.
I believe the market is going through a major correction and if your like me, new to trading and have lost money from false signals; this is a great time to practice patience, trade short, and simply wait for the market to stabilize. Looking at btc from a TA standpoint, a 1-2 year correction is not only possible but would absolutely make sense. With that being said, I believe most chartists do not factor in fundamental analysis that makes btc movement so unpredictable and why btc always exceeds expectations despite all the FUD in this space. I believe in the technology behind cryptocurrencies and in 1-2 years this technology will grow exponentially, and the block-chain will become part of everyday life and eventually become a multi- trillion dollar market.
On the chart I have drawn some possible support/ resistance (buy/ sell) points we may see btc test in the coming days. Just keep in mind the following:
As of right now, we ARE still in a bear market.
There are still a ton of lil baby pussy ass weak hands holding btc that will sell for a loss the moment the market bleeds again.
There are many people who do not understand this technology who will spread FUD in the market if you believe in this tech like I do, you will HODL.
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