There are 3 obvious outcomes for the current death cross and they are as such:
1) the cross can result in a further retracement of the price resulting in levels such as 20k which cannot be ruled out. For those people who are long term hodlers as well as new to the field, this is a dream come true as we are given a second chance to get a revolutionary bargain on crypto.
2) The cross could result in a consolidation phase that could last a few months which in fact could benefit alt coins which would thrive as capital would flow into them instead of BTC. The second alt coin season could be among us in my opinion, as fundamentals and media backing are still there and are here to stay. The capital of side liners are going to eventually be placed somewhere and when alts begin to pump the media will paint them in the light and the fear ratio will go down dramatically as the media get bored of BTC and get hyped about alts.
3) We could possibly just have a massive reverse and the cross has initiated where support is to high and traders see this situation as a strong buy in range.
This example as well as everything I post is not financial advise and should not be the leading idea for your decision to place a trade in any manner. Thank you for your time, I would appreciate your perspective on this fact whether you agree or disagree, i will hear all sides in order to benefit my own understanding and possibly alter my perspective if your argument is strong enough.
1) the cross can result in a further retracement of the price resulting in levels such as 20k which cannot be ruled out. For those people who are long term hodlers as well as new to the field, this is a dream come true as we are given a second chance to get a revolutionary bargain on crypto.
2) The cross could result in a consolidation phase that could last a few months which in fact could benefit alt coins which would thrive as capital would flow into them instead of BTC. The second alt coin season could be among us in my opinion, as fundamentals and media backing are still there and are here to stay. The capital of side liners are going to eventually be placed somewhere and when alts begin to pump the media will paint them in the light and the fear ratio will go down dramatically as the media get bored of BTC and get hyped about alts.
3) We could possibly just have a massive reverse and the cross has initiated where support is to high and traders see this situation as a strong buy in range.
This example as well as everything I post is not financial advise and should not be the leading idea for your decision to place a trade in any manner. Thank you for your time, I would appreciate your perspective on this fact whether you agree or disagree, i will hear all sides in order to benefit my own understanding and possibly alter my perspective if your argument is strong enough.