And there it is folks! Bitcoin
straight SMASHES through the bottom of the downtrend channel
. At this point, it looks like nothing will stop BTC
from reaching my infamous, hated, disputed, and rejected downside target near $5,650. And isn't it INTERESTING that Litecoin hasn't even taken out the low from Friday yet? I told you that it was likely to be more resilient, since it hit my downside target, and none of the other coins did. Un-freakin' believable. I swear I amaze myself sometimes. Looking at the four hour chart, we can see that BTC
is plummeting, and there isn't really much else to say about it. I gave you the call, with the $5,650 target weeks ago. BTC
has now entered an area with no support, so my target is directly in it's sights. All we can do now, is sit back and watch the bloodshed. If you're short, give yourself a pat on the back and watch that cash pile up. If you're long, well, all I can say is that I warned you. Make no mistake, this market is now devastatingly broken. Everyone keeps saying that it will rally and it will this and that. How do you know that? Past results are in no way indicative of the future. Just because it happened before, doesn't mean it will happen again. And from the looks of things right now, the bear market has no end in sight. We will have to see how BTC
reacts to my downside target, but mark my words, this market can go far lower than you ever thought possible.
This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-MPC loves you-