BTC possibilityOn the chart you can see the weekly MAs. This is not a guarantee, just an FYI, if we go lower this could be how. Plan ahead and good luck!
Retreat
BTC Bulls are grouping upTo me it seems inevitable to go down before going any higher. Bulls look determined to charge but they also look exhausted at the moment. After 10 days and two failed attempts to break higher, third time's not a charm. Bulls will have to retreat somewhere around 6500eur as to regroup. In the meanwhile, I feel that a benevolent whale will join their cause, and their combined powers will overcome bears resistance at 8200 eur. More bulls will join the charge in ecstasy, and altogether will rally to an all time high concluding some time in early June.
To me its obvious that without a whale's help bulls are doomed, but I have a strong feeling that the cavalry is on the way.
So, as in life, things will have to get worse before getting better. Lets see how it plays out.
Disclosure: Please be informed that information I provide is NOT a trading recommendation or investment advice. All of my work is for fun purposes only.
VIRUS CAUSES WALL STREET TO SHUDDERNews of one person in the USA being struck my a Chinese coronavirus, cause the markets to retreat on a northward charge. Only some 200+ points. Not much but it is significant.
The DJI is highly overpriced at the moment for a whole load of reasons, and it's very twitchy. The fact that the markets reacted to this story at all shows the twitchiness. It's just one case. But usually insiders know before the mainstream media what's going on.
News is that moves markets, cuz it's about sentiment more than fundamental value. Many things have shaken the market in recent months. People have been watching closely and nervously - guessing what will prick the bubble to cause a pop.
Stay tuned. Anything that rocks this market is worth watching for those who need to get out, or short.
This is not advice to short this market. If you lose your money kindly sue yourself.
