Bitcoin bear / bull fork ahead... approach wisely!

7 thg 3, 2018

We are approaching a fork in the road that will determine whether the market chooses the bull path or the bear path. Although it would appear that we have broken down through the support line in a continuation of the bear market, another few days should throw more light on the situation. If the market decides to break out into a bull run fasten your seatbelt. But if the market decides to continue as a bear market then reach for your parachute, it can be a long way down before reaching the bottom of this market. An idea is an idea and at the end of the day: the market is always right.

7 thg 3, 2018

Ghi chú

Please note that if the dip to 6000 on Feb 6 had been use to draw the support line, then we would have dipped below it yesterday.

7 thg 3, 2018

Ghi chú

Interesting to note how BTC has slowly climbed during the last couple of hours to 10700 but none of my other favourite coins have followed. Ominous sign that once BTC starts its decent again that a heavy fall is imminent... dark clouds on the horizon.

7 thg 3, 2018

Ghi chú

Dip to 9400 was certainly a cloud burst that dragged the other coins with it. As always the triggering of stop losses exagerated the fall.

7 thg 3, 2018

Ghi chú

Returned from a night out to find BTC back above 10000 with most of the other coins dragging their heels. Dark clouds are therefore still out there and I expect the market to continue its downward journey. 8400? 6000? 5000?
By the way I play positions daily so it does not matter to me if the market is climbing or falling. Therefore what I see is normally not coloured by wishful thinking.