Seems we are right back where we started and asking the same question ... Will BTC break the overall downtrend of resistance (shown in green)? Does not appear that we are out of the woods yet, and a huge factor whether BTC will rise is potentially determined in the next couple weeks. Many say there is definitely belief that we go to new highs this year. But I have to see proof.
Check my earlier posts for my earlier positions and thoughts on BTC. I am still anticipating a bigger drop to possibly retest 6K. We still do not know if this is a new year or the backside crash of 2013-2014. Are we in absolutely new territory or we now have a cycle of history with the first block chain ever?
Just stop here, if you are strictly a pro-crypto trader.
Message to Jo(e) Blow:
So, I am really looking to this weekend. Feb 24. heading toward a retest of 6k. (However as I am writing this, BTC is falling through a support line.) The bull spirit is getting crushed. A heartfelt apology to all. It's sickening. I like to look at the big picture. And the big picture is telling me that investments for this year are going to be hard to count on anything long term. That's not in all sectors, but safe to say most. This is a war between smart money and regular folks who invest, have retirement plans and dollar based products, etc. In short, the stock market may collapse this year. I like to think of crypto as the new Blackjack table (I don't gamble - maybe a better game) in the huge casino. Just know that I think a great wealth transfer is potentially at play this year. Please use caution in your strategy in all investments. This year may be heading for a long year of declines and trading downward. I may also go so far as to say the media hype may be looking for FOMO'ers to get in on the action when it may be over and no testing 18K this year. In closing, I will say that blockchain is the future of currency. And somewhere among this mess will be a few - next largest companies in the world or perhaps labeled as the new largest banks along with a new monetary system. Of course this is all completely an opinion of grand delusion and not investment advice.
Check my earlier posts for my earlier positions and thoughts on BTC. I am still anticipating a bigger drop to possibly retest 6K. We still do not know if this is a new year or the backside crash of 2013-2014. Are we in absolutely new territory or we now have a cycle of history with the first block chain ever?
Just stop here, if you are strictly a pro-crypto trader.
Message to Jo(e) Blow:
So, I am really looking to this weekend. Feb 24. heading toward a retest of 6k. (However as I am writing this, BTC is falling through a support line.) The bull spirit is getting crushed. A heartfelt apology to all. It's sickening. I like to look at the big picture. And the big picture is telling me that investments for this year are going to be hard to count on anything long term. That's not in all sectors, but safe to say most. This is a war between smart money and regular folks who invest, have retirement plans and dollar based products, etc. In short, the stock market may collapse this year. I like to think of crypto as the new Blackjack table (I don't gamble - maybe a better game) in the huge casino. Just know that I think a great wealth transfer is potentially at play this year. Please use caution in your strategy in all investments. This year may be heading for a long year of declines and trading downward. I may also go so far as to say the media hype may be looking for FOMO'ers to get in on the action when it may be over and no testing 18K this year. In closing, I will say that blockchain is the future of currency. And somewhere among this mess will be a few - next largest companies in the world or perhaps labeled as the new largest banks along with a new monetary system. Of course this is all completely an opinion of grand delusion and not investment advice.
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Just incase you want to claim that all of crypto is not a lot of money, true. It's just a test that it can be done.
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Note Smaller Head and shoulders formed developed and completed