Hello to anyone Reading!
Everyone is talking about channels breaking and reverse head and shoulders, etc. But in reality it looks like the price of BTC is bouncing in between resistance at $11,600 & $9,100.
Since BTC is so heavily influenced by news and speculation, technicals do not weigh as heavy as they do with forex, stocks, etc.
So what if the price breaks to form a new low, BTC can go as low as $8,400 and still be testing the Golden 0.618 Fib level from the Original pump to 19k.
With all this news about a Mt. Gox Malfunction and some Japanese whale being the one causing all these corrections, its just making the market more of an even playing field.
If the Market is doing well everyone screams MOOON! and when the market is bearish everyone screams DOOM and END to HODLers!
Just filter the nonsense and go with what your charts are telling you. If your chart is telling you that March is going to be bearish, so be it. Does not mean its the end of Crypto.
I find it extremely hard to believe that Crypto will die out with Coinbase applying for an index fund, the government recognizing BTC as a security instrument, foreign countries using it to generate wealth in extremely inflated currency market etc.
Its too late to kill Crypto, the Crypto virus has spread and no matter how hard you try to stomp it out, it will pop up with a use in another area.
Just Imagine all the people who said Paper Money would never replace gold. All the people who said plastic credit cards would never replace cash. All the people who said pay-pal would never beat credit cards.
This is the inevitable next step.
Everyone is talking about channels breaking and reverse head and shoulders, etc. But in reality it looks like the price of BTC is bouncing in between resistance at $11,600 & $9,100.
Since BTC is so heavily influenced by news and speculation, technicals do not weigh as heavy as they do with forex, stocks, etc.
So what if the price breaks to form a new low, BTC can go as low as $8,400 and still be testing the Golden 0.618 Fib level from the Original pump to 19k.
With all this news about a Mt. Gox Malfunction and some Japanese whale being the one causing all these corrections, its just making the market more of an even playing field.
If the Market is doing well everyone screams MOOON! and when the market is bearish everyone screams DOOM and END to HODLers!
Just filter the nonsense and go with what your charts are telling you. If your chart is telling you that March is going to be bearish, so be it. Does not mean its the end of Crypto.
I find it extremely hard to believe that Crypto will die out with Coinbase applying for an index fund, the government recognizing BTC as a security instrument, foreign countries using it to generate wealth in extremely inflated currency market etc.
Its too late to kill Crypto, the Crypto virus has spread and no matter how hard you try to stomp it out, it will pop up with a use in another area.
Just Imagine all the people who said Paper Money would never replace gold. All the people who said plastic credit cards would never replace cash. All the people who said pay-pal would never beat credit cards.
This is the inevitable next step.