Hello guys,
Despite im personaly 100% bullish on Bitcoin, here image is rather pessimistic for bulls.
We are slightly above SMA 200, important long term trend indicator. Consolidation we have right now is also looking like a Weekly bear flag + we are having dead cross on sma50 and sma100.
Looking at this perspective, people who bought bitcoins few year sago still have very good ROE and it's rather sell than buy territory.
Think about it you got stuff for 450 - 700 usd in 2015, its now x8.
To mee bear season started at the end of November 2018 after breaking 6000$ area and it was first real strike of bears.
Now we are holding at the edge of next step down.
On the other hand I cant find any other space that is developing so fast as Crypto right now, hovever that would be to easy to just go up right now.
Hope for the best but prepare for the worst.
Thank you for reading, let me know what you think.
Despite im personaly 100% bullish on Bitcoin, here image is rather pessimistic for bulls.
We are slightly above SMA 200, important long term trend indicator. Consolidation we have right now is also looking like a Weekly bear flag + we are having dead cross on sma50 and sma100.
Looking at this perspective, people who bought bitcoins few year sago still have very good ROE and it's rather sell than buy territory.
Think about it you got stuff for 450 - 700 usd in 2015, its now x8.
To mee bear season started at the end of November 2018 after breaking 6000$ area and it was first real strike of bears.
Now we are holding at the edge of next step down.
On the other hand I cant find any other space that is developing so fast as Crypto right now, hovever that would be to easy to just go up right now.
Hope for the best but prepare for the worst.
Thank you for reading, let me know what you think.
Comment:
As I'm writing this BTC is heading towards 3900 level of daily 100 SMA. Lets see if this won't be last chance to sell at good price or last call to buy more.