Bitcoin is under a lot of FUD for some time now. Some journalists write article in popular journals / blog / social platforms to demonize it, but they do not understand it, nor did research about it. They simply report what they have been briefly told, what the popular opinion (sentiment shifted bearish past weeks) agrees with. Regulators are disrupted, they seek solution, which is bullish or bearish depending on one's interpretation.
People are uncertain in general. Alot did not do researches and bought the top without learning about the tech. Now they have lost money and are exiting the markets in anger. Long term price, I strongly believe, is going up, short term these dips are sentiment driven and unpredictable.
Past few years price have reversed around these times, it's still likely that a bottom is in IMO.
See here: https://gyazo.com/dc2940f32ddd2e73058097a2343b68aa Bottom was, for past years, between January 15 and 20. So I am well open to the possibility that we have seen the bottom at 9k on january 17.
I don't have a crystal ball, I'm just open to every possible scenario. Short term we could get fucked or we could be on the verge of the next bullish parabolic wave, have no idea. I'm holding, and getting ready to buy more bitcoins if we hit 7.5k.
Be prepared to every possibility, stay safe fam, good success!
@tigerpause, Yeah I know, chart currently looks bearish and sentiment definetly is. But at those times where everything seems lost bitcoin proved bears wrong many times. I wouldn't be surprised if we dip furthermore, but I'm not panicking. At 20k everybody posted bearish charts and shouted 'moon', along with 30k-100k-1m$ targets. now it's the opposite on the bear side where eveyone shouts 'die bitcoin' and posts charts ranging from 1k-7.5k bearish targets.
Yes, technical analysis and sentiment tends to the bearish side, but this emergent and highly market shakes out people in these times. Nobody has a clue what's really going on, all probabilities. If it flips it will catch the bears off guard.
I'm risking what I can afford to lose, and I'm learning on the tech daily. Long term Bull.
I wouldn't dare shorting bitcoin. And I'm only ready to buy the dip if one of my anticipated scenarios becomes odd.
@julesistrading, I'm aiming for around 7.6k (1D 200 MA) but i wouldn't be surprised if 8.7 (1D 200 EMA) stops the rot. Check the 4D chart - it's showing support at 7.8, so allowing for a little breach down to 7.5 then it all looks to add up to being a valid short target. I'd never short bitcoin....AHEM :-D
tigerpause
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@tigerpause, Also - i stupidly got into updating 2 ideas...here's my main one:
julesistrading
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@tigerpause, everyone and their mothers calling a dip to 7.5k. anywhere under 9k I'll start accumulating more and ultimately set biggest orders around 7.5k if it happens.
I remain highly skeptical : Tone Vays, Peter Brandt, Nic trades, and a ton of other analysts calling for it. People are so certain it will happen that I don't believe it will lol. Too many people would have to be right.
Anyway, I'm not a pro but I'm ready for anything :)
Goodluck on your ideas / positions brotha
tigerpause
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@julesistrading, I'll check those guys out and add them to my list, thanks! Fingers crossed the plan works out. Looking forward to bull run proper because shorting makes me sweat!!