The Bears Defend The Red Wall, and The North
BTC fails at the 50 EMA and the entire market bathes in blood. WELL, idk about you guys... buuuuuuuuuut... I'm pretty well desensitized to this by now. Okay so BTC has fallen, whoop-dee-doo. We've been bouncing inside of this triangle since winter, however, it's coming to a point where BTC will either rise or fall as we approach the precipice of this pyramid. There's really only 2 scenarios now, and I think one is more likely than the other. Like, WAY more likely than the other.
This is where my #1 on my chart comes in. IF we fall to the support line, and then bounce back up towards the 50, and we fail at the 50 and retreat, and IF we fail to maintain that support - We fall low.
Like super low.
Like so low that there is NO WAY that the big wigs and institutions don't jump in. That's a bit of a too perfect of a situation, right? Wrong, big money manipulates new money to make BIGGER money. It's the way of the wealthy.
Now, numbers #2 & #3 I consider to be far less likely. I don't think that we will fail right through the 7k support. However, it is still possible. But the bulls heavily defended that high ground a few weeks back.
And #3 gets farther and farther away now as we fail to punch through our ceilings before us.
This all writes a recipe for further losses. More buyers (troops) MUST be mustered to drive the value north.
So I say let it fall for now. Once support is established I'll be throwing my troops into the fray.
Let's say the bulls are Jon Snow and his army...because well everybody loves Jon, how can you not. (That's rhetorical, notice the lack of an actual "?", because it's not an actual question).
And the bears are the White Walkers, because nobody in the crypto world likes the bears.
Only this time the Bears have erected their own Northern Wall to keep us out.
Doesn't it sound like retreat would be a good idea after trying and failing for months to pierce the wall?
We need to recruit the Wildlings and that hot Queen with her winged fortresses.
Fall back, recruit. Get strong. Then we'll win.
This is where my #1 on my chart comes in. IF we fall to the support line, and then bounce back up towards the 50, and we fail at the 50 and retreat, and IF we fail to maintain that support - We fall low.
Like super low.
Like so low that there is NO WAY that the big wigs and institutions don't jump in. That's a bit of a too perfect of a situation, right? Wrong, big money manipulates new money to make BIGGER money. It's the way of the wealthy.
Now, numbers #2 & #3 I consider to be far less likely. I don't think that we will fail right through the 7k support. However, it is still possible. But the bulls heavily defended that high ground a few weeks back.
And #3 gets farther and farther away now as we fail to punch through our ceilings before us.
This all writes a recipe for further losses. More buyers (troops) MUST be mustered to drive the value north.
So I say let it fall for now. Once support is established I'll be throwing my troops into the fray.
Let's say the bulls are Jon Snow and his army...because well everybody loves Jon, how can you not. (That's rhetorical, notice the lack of an actual "?", because it's not an actual question).
And the bears are the White Walkers, because nobody in the crypto world likes the bears.
Only this time the Bears have erected their own Northern Wall to keep us out.
Doesn't it sound like retreat would be a good idea after trying and failing for months to pierce the wall?
We need to recruit the Wildlings and that hot Queen with her winged fortresses.
Fall back, recruit. Get strong. Then we'll win.
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