Be Aware Of THIS Scenario
Updated
Be Aware Of THIS Scenario
Should we actually break down, which is very possible, then do not panic!
I see that in people who act emotionally, again and again.
You are selling, Bitcoin is actually going down $400-300 and you are thinking that it will fall more.
After a few hours you will see that the price is back above your selling price and that's how the clever people manage to reduce your money.
Mostly, you hope that the price will go down a bit more to buy at least at your retail price.
What is happening? The price goes up and up until you are forced to enter emotionally, just when you are in a correction again.
At my last Bitcoin idea you have seen that I am very uncertain about the current situation.
The question I asked myself was:
Scenario 1: Are we going up now?
Scenario 2: Are we going to make a bigger correction before going up?
Personally, I prefer the second scenario because it would 'kill' the longs again before it goes up.
But I think that the first scenario will happen, because it looks very much like a structure I know.
So, no matter what happens now, I assume that we will go up afterwards and people will be scared.
The market decides.
Note: I'm sorry that I upload this idea for the third time now. Had problems to show both scenarios in one idea to make it clearer.
Should we actually break down, which is very possible, then do not panic!
I see that in people who act emotionally, again and again.
You are selling, Bitcoin is actually going down $400-300 and you are thinking that it will fall more.
After a few hours you will see that the price is back above your selling price and that's how the clever people manage to reduce your money.
Mostly, you hope that the price will go down a bit more to buy at least at your retail price.
What is happening? The price goes up and up until you are forced to enter emotionally, just when you are in a correction again.
At my last Bitcoin idea you have seen that I am very uncertain about the current situation.
The question I asked myself was:
Scenario 1: Are we going up now?
Scenario 2: Are we going to make a bigger correction before going up?
Personally, I prefer the second scenario because it would 'kill' the longs again before it goes up.
But I think that the first scenario will happen, because it looks very much like a structure I know.
So, no matter what happens now, I assume that we will go up afterwards and people will be scared.
The market decides.
Note: I'm sorry that I upload this idea for the third time now. Had problems to show both scenarios in one idea to make it clearer.
Note
I'm not very sure about that, but right now I'm looking at the first scenario with an ending diagonal at the end if you are interested.Will continue to hold my Litecoin and Bitcoin Cash.
Note
If it turns out that it's not an ending diagonal but part of a bear flag, then we should drop. Could also run for a long time sideways again like before.
We do not know that at the moment.
It is the decision of the market.
Note
After this down move Bitcoin should reverse back up and break $10,000 easily.Note
As I said before, all the bulls have become bears again. Unfortunately, not enough longs have been closed so I think we will drop to around $9,100 /$8,800 if we break the bear flag.
Then most should get scared again and think we would drop even more.
Note
Should we form an expanding flat I could also imagine a drop to around $8,500.Note
Very good bounce at around $9,200.
Related publications
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.