The big picture on BTC/USD
Yes, we are in a correction, some might say a bear market. And yes, BTC -2.31% wil recover from it, but when? How about we all take a deep breath, take a step back and look at the big (bigger) picture here. There is such a clear support trend line coming all the way from 2015 here that I am surprised that so few people are considering this. Some might say we have seen the bottom in feb but I do not believe that. Why? Because after such an incredible push, and that much FOMO, the bottom wil also be equally incredible, just the flip side of it. We will see a huge panic, much bigger that we have seen so far. All the brave and tough HODLers will cave and fall down on their knees crying "why god, why!!!". This is what the so called whales are anticipating and some might say, they are actually creating it. I believe we have yet to see this exhaustion fase in the market.
My guess is we will go and visit that support line again, or come close to it. BTC -2.31% did it five (5!) times before. And it wil happen quickly and very violently. Probably around late June if BTC -2.31% follows it current channel down. It could be earlier if the panic is triggered by some big event. One of those might still be USDT. If that is the trigger for the final exhaustion it might not go as low as 3000. Look out for a volume spike much bigger than that of feb 6. That will be the bottom.
That is where we buy. That is where we make money. Stay patient, stay smart and don't put your neck in the current bull trap.
Good luck out there!
M
My guess is we will go and visit that support line again, or come close to it. BTC -2.31% did it five (5!) times before. And it wil happen quickly and very violently. Probably around late June if BTC -2.31% follows it current channel down. It could be earlier if the panic is triggered by some big event. One of those might still be USDT. If that is the trigger for the final exhaustion it might not go as low as 3000. Look out for a volume spike much bigger than that of feb 6. That will be the bottom.
That is where we buy. That is where we make money. Stay patient, stay smart and don't put your neck in the current bull trap.
Good luck out there!
M
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