The first Huge drop occurred today and we bottomed out and bounced off the .61 fib drawn from the previous High.
This has created a lower low and and the potential for a bear market to start.
I have no interest in going Long on bitcoin anymore than riding a bull trap up to ~17-18k. Until we make a new ATH I am preparing for a correction down to 8k area.
This has created a lower low and and the potential for a bear market to start.
I have no interest in going Long on bitcoin anymore than riding a bull trap up to ~17-18k. Until we make a new ATH I am preparing for a correction down to 8k area.
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Idea playing out so far. We hit just under 17k - We could have 1 more wave up to 17K+ but I am still Predicting A new low in the next few weeks.
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The bitcoin market is at a very important level... we are testing the 12k level once again. If the price breaks below. Next stop is 10.7k and there is little to stop it from going lower. Volume does not look healthy. Definite caution ahead in bitcoin.
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Bull trap to ~17-18K Complete