Will Bitcoin repay the loan or can bears accept a double bottom?
So I still think we have to dip down as hard as we spiked in order to please the bears and get this price back down to where the whales will jump back in and repeat the cycle. On the other hand, sometimes loans can be paid off short. Looking at it from a non technical standpoint, some may say a double bottom combined with the extended amount of time we have spent trying to get there makes us even.
With that said, I present 2 options:
1.We bounce off the double bottom and take a nice ride up. My charts shows some reasonable fib levels to bounce at.
2. We continue to fall until the spikes have been exactly repaid and then we are allowed out of jail. My number for the low is calculated from 2 things. 1. I feel that the high from January 6th equals the low of February 6th = repaid. The ATH from December 16th needs to be repaid (with some blood in the streets). The difference between the highs of Jan 6th and Dec. 16th is $2700. (17200 and 19900). Subtract 2700 from the first low of 6000 and we get 3300. 2). 3300 has strong support from a reversal back on September 15th, 2017. This seems logical to me from both a TA and FA perspective.
We all know whales control the market. And no matter what our fancy tea leaves say, they will make the moves they want when they want to make them. So, thinking like an arrogant, "nothing impresses me", filthy rich whale, I would probably think: "I bought in last time when they announced futures trading was coming to Bitcoin... around $5000. I got a 4x gain and then bailed out at $20K. This time I want MORE PROFIT. I will wait until this hits 85% off ($3,000) and then ride it all the way past 20K for a nice 10X profit ($30K) and then dump it again.
If that plays out, me buying in at $3300 will be great!! I will take that 9x any time!
ok, so that last part was a stretch, but I am SURE some whales have that thought in mind. They always want MORE POWER. That means huge gains like more than double what they did last time, and why not a nice even number like 10x? My ideas have a chance just like other people.... I can't wait to see how it plays out!
With that said, I present 2 options:
1.We bounce off the double bottom and take a nice ride up. My charts shows some reasonable fib levels to bounce at.
2. We continue to fall until the spikes have been exactly repaid and then we are allowed out of jail. My number for the low is calculated from 2 things. 1. I feel that the high from January 6th equals the low of February 6th = repaid. The ATH from December 16th needs to be repaid (with some blood in the streets). The difference between the highs of Jan 6th and Dec. 16th is $2700. (17200 and 19900). Subtract 2700 from the first low of 6000 and we get 3300. 2). 3300 has strong support from a reversal back on September 15th, 2017. This seems logical to me from both a TA and FA perspective.
We all know whales control the market. And no matter what our fancy tea leaves say, they will make the moves they want when they want to make them. So, thinking like an arrogant, "nothing impresses me", filthy rich whale, I would probably think: "I bought in last time when they announced futures trading was coming to Bitcoin... around $5000. I got a 4x gain and then bailed out at $20K. This time I want MORE PROFIT. I will wait until this hits 85% off ($3,000) and then ride it all the way past 20K for a nice 10X profit ($30K) and then dump it again.
If that plays out, me buying in at $3300 will be great!! I will take that 9x any time!
ok, so that last part was a stretch, but I am SURE some whales have that thought in mind. They always want MORE POWER. That means huge gains like more than double what they did last time, and why not a nice even number like 10x? My ideas have a chance just like other people.... I can't wait to see how it plays out!