Bitcoin is about to reach its limit, where to eat the next bite?
Just cached out all my positions, the remaining 3-4% till we hit $10k is not worth the risk for me.
I hold zero crypto at the moment and I'm waiting for the next panic sell to get me some. The market is completely unstable at the moment and the bullish run in the past couple of days is just unrealistic and not backed by any fundamental changes or big news in the market (in my opinion of course).
The $10k target can lead to one of two things, either this is the historical end of cheap Bitcoins and we are moving up exponentially from here (the next psychological barrier is not $20k or $50k, it's $100k). Or, the second option, which I think is the most likely to happen, is that we are heading to a steep correction, at least 50%, this is just how markets works. We enjoyed -well, at least I did- this 2017 ride, but it needs to end so that we can move forward stronger, with something that has some backbone to it and not just being pushed by hype or whatever factors that helped the price skyrocket as we saw.
$8,200 is a clear support, the last confirmed one at least. Followed by $7,900, if it doesn't hold? we would be heading to $7,200, then $6,500, and finally $5,900. I don't think that it would correct more than this.
Overall, this is very healthy for the market.
Thoughts?
I hold zero crypto at the moment and I'm waiting for the next panic sell to get me some. The market is completely unstable at the moment and the bullish run in the past couple of days is just unrealistic and not backed by any fundamental changes or big news in the market (in my opinion of course).
The $10k target can lead to one of two things, either this is the historical end of cheap Bitcoins and we are moving up exponentially from here (the next psychological barrier is not $20k or $50k, it's $100k). Or, the second option, which I think is the most likely to happen, is that we are heading to a steep correction, at least 50%, this is just how markets works. We enjoyed -well, at least I did- this 2017 ride, but it needs to end so that we can move forward stronger, with something that has some backbone to it and not just being pushed by hype or whatever factors that helped the price skyrocket as we saw.
$8,200 is a clear support, the last confirmed one at least. Followed by $7,900, if it doesn't hold? we would be heading to $7,200, then $6,500, and finally $5,900. I don't think that it would correct more than this.
Overall, this is very healthy for the market.
Thoughts?