This reminds me of the year 2000, when seemingly everyone was saying the dot-com and the tech bubble was about to burst. I did not heed that warning and suffered 17 years of self-imposed misery after that...
Here we are now with crypto having hit all-time highs and so many people are now saying that the bitcoin/crypt frenzy is coming to an end. I'm not interested in debating the devaluation of USD or all of the background of arguments for either side of the bull or bear case, I'm just showing you the Fibs to the downside.
Bring up a weekly chart and draw a simple Fib retrace from March of 2020 and you'll see 27630 is the 0.618 level on the downside. There's a whole mess of Fibs that are in confluence at several levels on my chart. If you agree that BTC price will continue to drop, maybe buy some PUT contracts or sell some CALL contracts, or whatever it takes to make money on this downtrend...
I've made one good idea post for where wave 5 ended on the upside, and one incorrect prediction on the next upside, this is my bid for two out of three and if you are long BTC/crypto of any kind, I hope I'm wrong about continued selling.
That's all I'm trying to say.
Enjoy!
Here we are now with crypto having hit all-time highs and so many people are now saying that the bitcoin/crypt frenzy is coming to an end. I'm not interested in debating the devaluation of USD or all of the background of arguments for either side of the bull or bear case, I'm just showing you the Fibs to the downside.
Bring up a weekly chart and draw a simple Fib retrace from March of 2020 and you'll see 27630 is the 0.618 level on the downside. There's a whole mess of Fibs that are in confluence at several levels on my chart. If you agree that BTC price will continue to drop, maybe buy some PUT contracts or sell some CALL contracts, or whatever it takes to make money on this downtrend...
I've made one good idea post for where wave 5 ended on the upside, and one incorrect prediction on the next upside, this is my bid for two out of three and if you are long BTC/crypto of any kind, I hope I'm wrong about continued selling.
That's all I'm trying to say.
Enjoy!