Btc has been in a downtrend since the second time it failed to break 20k.
Some fell for the bulltrap when bitcoin was oversold near 11k in a panic and experienced a bounce.
in that bounce, on bitfinex BTC never broke 15k (despite reaching 149** multiple times).
To me this indictated a clear failure to break out of this bearish trend which I believe was triggered by a self fulfilling prophecy of a needed correction, bull exhaustion culminating in failure to 20k multiple times, as well as FUD surrounding bitcoin cash/flippening (I consider it a possibility, albeit unlikely) and charlie lee's tweets.
Now I expect no bullish action for the rest of the year. Many trades and investors will be looking to cash out before new years for tax purposes, and generally buyers take a break during christmas/new years holidays.
I cannot see 10k being broken, and if it is, there would likely be a violent bounce, which would consolidate above 10k.
Once there is a increase in volume anywhere from 9-12k, AFTER jan1, I will enter
Some fell for the bulltrap when bitcoin was oversold near 11k in a panic and experienced a bounce.
in that bounce, on bitfinex BTC never broke 15k (despite reaching 149** multiple times).
To me this indictated a clear failure to break out of this bearish trend which I believe was triggered by a self fulfilling prophecy of a needed correction, bull exhaustion culminating in failure to 20k multiple times, as well as FUD surrounding bitcoin cash/flippening (I consider it a possibility, albeit unlikely) and charlie lee's tweets.
Now I expect no bullish action for the rest of the year. Many trades and investors will be looking to cash out before new years for tax purposes, and generally buyers take a break during christmas/new years holidays.
I cannot see 10k being broken, and if it is, there would likely be a violent bounce, which would consolidate above 10k.
Once there is a increase in volume anywhere from 9-12k, AFTER jan1, I will enter
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I was wrong but be careful