Chart says it all. I'm looking for a capitulation style sell-off that could reach about $8,000. Look at the sell-offs from 2500-1800 and from 3500-2800. EMA 850 looks like a very strong bounce line but we can dip slightly below it. The one thing I'm worried about is the lack of real support since we pushed through 7k very fast.
Let's see what happens. Don't invest what you cannot afford to lose. Don't over-leverage.
評論
⋅
I watched it dip to 1800. I watched it dip to 2800.
I watched it dip to 8000?
I think this will happen.
評論
⋅
Alright ladies and gentlemen. Let's do this. I'm scaling in with 3x margin from 9k-7.5k.
評論
⋅
Tut tut bitcoin. Anemic bounce so far.
評論
⋅
評論
⋅
BTC made a H&S that gives it a target of 9k. A double bottom is unlikely to hold so I'm sticking with my initial idea of 7k being the capitulation bottom.
No bull run for BTC no matter how long the downtrend until scalability, Tx time and fees are resolved. There absolutely has to be a solution or some other coin takes over.
Braller
⋅
Check weekly candles on ETHBTC for an interesting view on the issue of BTC strength.
It's better for the stability of the world economy and faith in crypto if we'd see BTC start its bull run now.
On the other hand many coins including BTC desperately need to have their fundamentals checked. Nothing like a good culling to separate the chaff from the weed. A hard drop now may be less fatal to crypto than a potentially far more leveraged one later when many fundamentally worthless coins will be exposed.
It does look like ETH stands ready to take over the sceptre, it has fundamental problems as well but not as imminent as those of BTC.
I woudn't like to see a fall but the benefits may be very cathartic
Let's see what will happen. It depends on the coming days, nice analysis btw!
[img][/img]
elshanti
⋅
highly agree i guess there will multiple shake outs through pumps and dumps at different levels I am sticking to fibonacci level same as the bull market 3 -5 -8 being all time highs but after the hype at 8k the sequence invalidated however it was supposed to follow 13k- 21k- 34k.. now we are correcting this first with 13 now 8 and high possibility of 5..also the huge buy volume at the 5.5 approves it.. as most wall street guys bought that dip just after the CME futures news early November..remember Novogratz bought at the weekend of the 5.5K dip ..from 5k to 8k it was the segwit2x bubble and after that futures bubbles and here we are.
crimsonronin
⋅
Nice! I have the same targets also. The big rising wedge from 9k confirms this as well.