Possible bounce at 7,5k-8k levels
Updated
Okay, so the market is dropping, people are publishing charts about everything is going to be okay. They 'rally' is starting soon. We're currently 'fueling' the rocket. Let's look at some charts and be realistic. Let's look for patterns, symmetry and possible situations - and not what we are hoping for but how the crypto market is behaving right now.
So in a bear market - especially this one - people are trying to find the rock bottom to invest in. This is why we see the price stalling for a short while before crashing again. Now, if we look at the chart. You will see 3 green squares with a purple line in it. This line is to measure the length of the downfall before we meet bulls again. If we look at the third square. It is possible that the market will go to between 7,5k-8k before we'll see any short-term uptrends. The million dollar question is: Will the next bounce be the last one? I can't tell you, but I can tell you there will be a bounce and it's around the corner (7,5k-8k to repeat), so if you going short-term it's a good opportunity. We can observe the RSI for a moment and it is currently OVER-oversold, so we'll see some upwards moment soon, but hopefully, this is where people start investing a lot of money, so the bounce will hold.
That's all for now.
Good luck out there. As always this is only an idea - not necessarily true - but patterns and symmetry is what drives a market ;)
So in a bear market - especially this one - people are trying to find the rock bottom to invest in. This is why we see the price stalling for a short while before crashing again. Now, if we look at the chart. You will see 3 green squares with a purple line in it. This line is to measure the length of the downfall before we meet bulls again. If we look at the third square. It is possible that the market will go to between 7,5k-8k before we'll see any short-term uptrends. The million dollar question is: Will the next bounce be the last one? I can't tell you, but I can tell you there will be a bounce and it's around the corner (7,5k-8k to repeat), so if you going short-term it's a good opportunity. We can observe the RSI for a moment and it is currently OVER-oversold, so we'll see some upwards moment soon, but hopefully, this is where people start investing a lot of money, so the bounce will hold.
That's all for now.
Good luck out there. As always this is only an idea - not necessarily true - but patterns and symmetry is what drives a market ;)
Trade active
As confirmed the bounce has happened. Let's see if it will hold.
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