I know this might look like jakajaka😂 to a lot of us especially when we don't have any interest in understanding what's going on in the crypto space and what drives crypto prices especially the king all cryptos, Bitcoin (A.K.A BTC), and its younger brother Etherium (A.K.A ETH). I am not a good teacher but will try and help bring out some insight from my simple analysis. This market is largely driven by psychology, sentiments, and emotion. However, all of these are still found in technical analysis. It is important, however, to know that Bitcoin responds to fundamentals and news very easily and it depends on what side of the divide you find yourself. What I have simply done here is to show what has happened in the past and what is likely to happen in the future as history has a way of repeating itself. As you can see within the circle, bitcoin made its All-Time-High (ATH) of $20k on the 17th of December 2017, and whilst for several months people thought Bitcoin will continue to rise and would never come down to $2.5k
that was like 680% reduction from where it was coming from and this took over 2 years to happen. A good trader doesn't trade what he thinks but what the market is painting. A good trader must understand and see the signs when there is about to be changed in the market structure from an uptrend to a downtrend and vice versa. You don't go to the market with a fixed but flexible mind. I am of the upon that Bitcoin is going to get to $76k and even $100k before any major correction as I think a few corrections have happened but then, I am very open to seeing the picture the market is painting to enable me to modify or update my bias.
I don't understand what the market will do yet but I am still waiting. For me though, the price needs to close below $53k before I can confirm BTC will trend downward.
All I am preaching here is the patience and ability to wait and buy at a good price,
Happy Trading!!!!
that was like 680% reduction from where it was coming from and this took over 2 years to happen. A good trader doesn't trade what he thinks but what the market is painting. A good trader must understand and see the signs when there is about to be changed in the market structure from an uptrend to a downtrend and vice versa. You don't go to the market with a fixed but flexible mind. I am of the upon that Bitcoin is going to get to $76k and even $100k before any major correction as I think a few corrections have happened but then, I am very open to seeing the picture the market is painting to enable me to modify or update my bias.
I don't understand what the market will do yet but I am still waiting. For me though, the price needs to close below $53k before I can confirm BTC will trend downward.
All I am preaching here is the patience and ability to wait and buy at a good price,
Happy Trading!!!!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.