The halving is done and we have seen a bit of volatility the last hours before. Now to the moon??? I wish for it but i don´t expect it.
What is the initial situation:
- We see lower highs along the falling purple line
- At the Moment we see a lot of resistance in the area of 10.000 - 10.500
- Seven positive weeks in a row
- The halving
- A lot of hype on youtube and in other media
What can we expect:
I quote a song by QUEEN "Too much love will kill you" and change it. "Too much hype will kill you". I wonder all the time why everyone is so euphoric. The fundamentals are one but i don't see any change in the chart. It doesn't change anything when billionaires enter the market or youtubers call out the moonshot. When everyone talks about it, it usually happens differently.
Chart technology is always about probabilities. Basically anything is possible and we can see pumps in between. Based on the chart situation, i expect a continuous sideways phase with a tendency downward trend. In my opinion, this is healthy for the market. Interest and reporting will likely decrease and people start to doubt. That is what I want to see.
In summary, i expect a longer sideways phase in a larger range. We will see little pumps and dumps. As long as we don´t see any new lows below 3.800 $ or any new highs above 10.500 $ or even 14.000$ we will form a longterm bottom and that is good for the long run. That can even take years.
Please leave a like or a comment!
What is the initial situation:
- We see lower highs along the falling purple line
- At the Moment we see a lot of resistance in the area of 10.000 - 10.500
- Seven positive weeks in a row
- The halving
- A lot of hype on youtube and in other media
What can we expect:
I quote a song by QUEEN "Too much love will kill you" and change it. "Too much hype will kill you". I wonder all the time why everyone is so euphoric. The fundamentals are one but i don't see any change in the chart. It doesn't change anything when billionaires enter the market or youtubers call out the moonshot. When everyone talks about it, it usually happens differently.
Chart technology is always about probabilities. Basically anything is possible and we can see pumps in between. Based on the chart situation, i expect a continuous sideways phase with a tendency downward trend. In my opinion, this is healthy for the market. Interest and reporting will likely decrease and people start to doubt. That is what I want to see.
In summary, i expect a longer sideways phase in a larger range. We will see little pumps and dumps. As long as we don´t see any new lows below 3.800 $ or any new highs above 10.500 $ or even 14.000$ we will form a longterm bottom and that is good for the long run. That can even take years.
Please leave a like or a comment!