possible top occurred to signal extreme decline. stochRSI 100 level. RSI reaching above 50. this is a critical impasse , if there is a steep decline in the coming days, i'd imagine the entire crypto market is going to see extreme losses for the foreseeable future. Trades at this level are extremely high risk as price can explode either direction violently. One thing that i worry about is the fact that money is easily attainable (low interest rates)- if money is easy to get its easy to invest with, one down turn of global markets causing a recession will cause this market to implode, the amount of people that have borrowed money to purchase these assets will be burned and forced to liquidate and thus leaving us an opportunity to purchases these assets at a lower prices. People like to think of crypto as a savior of our system , but it has only been incorporated into it.... i remember when you were not able to buy a bitcoin with a credit card, it was hard cash, those times have come and gone. There are good projects out there, but in my opinion there will be a serious blood bath - i can easily be wrong but this is why am not long or short - i have money in the market on the side to place on the way this market will go.
be fearful when people are greedy ; and be greedy when people are fearful - Warren Buffett
be fearful when people are greedy ; and be greedy when people are fearful - Warren Buffett