Hi traders,
As i keep on saying since some time Btc is following a Nasdaq Composite crashing pattern structure since January
Many reasons made, and still make me believe this continuation of a similar structure is likely to happen, even is it's of course early to be sure of it, no crystal ball here
- Btc market capitalization end 2017 was starting to be a decent size one, so the crashing pattern would be more representative of a standard market crashing pattern as there is enough cap to represent a true psychological mass behaving pattern (unlike previous Btc crashes where the Market cap was too small to be truely representative)
- new tech and new hype effect of a pattern structure building
- market inexperience of a lot of buyers that rushed during the peak, could create a continuation sell-off as the newcomers can become newleavers
- mass behaviour disbelief and doubt about the real true use of the asset and its real true value, because of the own nature of it beeing a new technology, abstract, and with a fundamental value of zero
Mass market questionning should be rational to be seen
I am pessimistic regarding the next trend of Btc once the crash stabilizes, especially because of the possibility to short Btc, and the incoming regulations that could drastically reduce Btc volatility, and so the interest of an investment in it
Bare in mind that i can be wrong
As i keep on saying since some time Btc is following a Nasdaq Composite crashing pattern structure since January
Many reasons made, and still make me believe this continuation of a similar structure is likely to happen, even is it's of course early to be sure of it, no crystal ball here
- Btc market capitalization end 2017 was starting to be a decent size one, so the crashing pattern would be more representative of a standard market crashing pattern as there is enough cap to represent a true psychological mass behaving pattern (unlike previous Btc crashes where the Market cap was too small to be truely representative)
- new tech and new hype effect of a pattern structure building
- market inexperience of a lot of buyers that rushed during the peak, could create a continuation sell-off as the newcomers can become newleavers
- mass behaviour disbelief and doubt about the real true use of the asset and its real true value, because of the own nature of it beeing a new technology, abstract, and with a fundamental value of zero
Mass market questionning should be rational to be seen
I am pessimistic regarding the next trend of Btc once the crash stabilizes, especially because of the possibility to short Btc, and the incoming regulations that could drastically reduce Btc volatility, and so the interest of an investment in it
Bare in mind that i can be wrong
Comment:
The bull trap period is situated in a very low area of the crashing structure, which give a possibility for more room to the downside
We should be ready to accept the possibility to see Bitcoin prices under the 1.000$ zone
This overall structure is allowing some room to see prices close to the 850 dollars range, and if this price range is hit, it gives the possibility of any type of price under 500$