In this post 5 days ago:
I analyzed that the price was definitely going to $29k. Now that we're here 5 days later (took a bit longer than I thought) - whitherto from here?
I believe the price will take either the blue or pink path as drawn. We will end up at the same place, nonetheless. I think there is a high probability that we will plunge to $25k region before the end of the month.
Let me remind everyone that many people were saying that $30k was unbreakable - there were so many people lined up to defend $30k, and yet here we are. Cointelegraph in particular is a constant source of misinformation. I remained disciplined: technical analysis is ENOUGH to determine where the price was going: it's going to $17k-$20k: that's what the patterns are saying (many converging reliable patterns: H+S, 200 weekly SMA, 786 fib retracement of Wave 3 etc.) - IGNORE the noise.
That's the biggest lesson I learned from this. I was cautiously reading dissenting information from Cointelegraph and other traders, just to burn in my brain whether to pay attention to them in the future. Clearly not. All the nonsense can be filtered out: the patterns are enough because the patterns summarize the psychology of the market - we don't need fundamentals or anything else.
I analyzed that the price was definitely going to $29k. Now that we're here 5 days later (took a bit longer than I thought) - whitherto from here?
I believe the price will take either the blue or pink path as drawn. We will end up at the same place, nonetheless. I think there is a high probability that we will plunge to $25k region before the end of the month.
Let me remind everyone that many people were saying that $30k was unbreakable - there were so many people lined up to defend $30k, and yet here we are. Cointelegraph in particular is a constant source of misinformation. I remained disciplined: technical analysis is ENOUGH to determine where the price was going: it's going to $17k-$20k: that's what the patterns are saying (many converging reliable patterns: H+S, 200 weekly SMA, 786 fib retracement of Wave 3 etc.) - IGNORE the noise.
That's the biggest lesson I learned from this. I was cautiously reading dissenting information from Cointelegraph and other traders, just to burn in my brain whether to pay attention to them in the future. Clearly not. All the nonsense can be filtered out: the patterns are enough because the patterns summarize the psychology of the market - we don't need fundamentals or anything else.