Bull targeting 3 large channels forming from the 6K dump to 3k.
Personally I don't think we've seen the bottom yet. But in the short term, it's time to try and squeeze some more retail money into this ponzi while the media's paying attention. Perfect time since we've hit 3200 and plenty of normies thinking this was the 'bottom' of the bear market. It could be, but I think we'll at least test the 3200/3k area again. Probably 2400 area support with a giant wick or two, later this year.
Anyway, the 3 channels the bulls will target for this pump are:
One at $5500
One at $4600ish
One at the resistance we just hit at $4100 area.
Should go down to gather some momentum before targeting the 4100 area again to try and take this bitch to 4400+.
Once we get there, we may see a push to $5500 with low volume.
When you see that big push with weak volume, it's time to sell your longs. We have really only just started a new 60 day bitcoin cycle so the Xmas, New year, Jan/Feb period should build plenty of hopium before we dump back down to the 3k area and probably test the bottom of this channel for 'bottom' support.
Will be an absolutely soul crushing experience for all the retail noobies who FOMO this mini pump over the holiday period.
Stay careful. I'm long from $3440 USD and will sell at $4400 before re-evaluating things once we get closer to that top channel resistance.
Good luck traders.
And remember, this corn is going to 80-100K minimum within a few years. It's just too undervalued at these levels for the opportunity it provides the world as an asset and as a store of value.
Market cycle for bitcoin moves in 4 year periods. We just finished a four year in 2017 and 2018 was year one of the next 4 year cycle. Get ready for the next halving and be patient.
Bitcoin's time will come.
Anyway, the 3 channels the bulls will target for this pump are:
One at $5500
One at $4600ish
One at the resistance we just hit at $4100 area.
Should go down to gather some momentum before targeting the 4100 area again to try and take this bitch to 4400+.
Once we get there, we may see a push to $5500 with low volume.
When you see that big push with weak volume, it's time to sell your longs. We have really only just started a new 60 day bitcoin cycle so the Xmas, New year, Jan/Feb period should build plenty of hopium before we dump back down to the 3k area and probably test the bottom of this channel for 'bottom' support.
Will be an absolutely soul crushing experience for all the retail noobies who FOMO this mini pump over the holiday period.
Stay careful. I'm long from $3440 USD and will sell at $4400 before re-evaluating things once we get closer to that top channel resistance.
Good luck traders.
And remember, this corn is going to 80-100K minimum within a few years. It's just too undervalued at these levels for the opportunity it provides the world as an asset and as a store of value.
Market cycle for bitcoin moves in 4 year periods. We just finished a four year in 2017 and 2018 was year one of the next 4 year cycle. Get ready for the next halving and be patient.
Bitcoin's time will come.