Princess Gwendolyn here, looking at Bitcoin. This princess enjoys her Gucci, and so she keeps her eyes on the markets.
Oh my goodness, Bitcoin finally did something. Yes, that something was a violent breakdown that hit a pile of Stop Loss orders, immediately cascading down further through resistance. But maybe that's a good thing. I opened up a monthly chart, to get some perspective on the market. The thing that sticks out on the monthly chart is how the volume has decreased from the peak. Lately Bitcoin has been trading sideways, in a kind of a stupor. Markets have been flat.
I would argue that it's better for this breakdown to happen than not. Let's shake the market and see where things settle. Until the breakdown finishes, it can't go up again. The panic sells need to run their course.
Oh my goodness, Bitcoin finally did something. Yes, that something was a violent breakdown that hit a pile of Stop Loss orders, immediately cascading down further through resistance. But maybe that's a good thing. I opened up a monthly chart, to get some perspective on the market. The thing that sticks out on the monthly chart is how the volume has decreased from the peak. Lately Bitcoin has been trading sideways, in a kind of a stupor. Markets have been flat.
I would argue that it's better for this breakdown to happen than not. Let's shake the market and see where things settle. Until the breakdown finishes, it can't go up again. The panic sells need to run their course.