BTCUSD bullish momentum looking to be over after forming bearish reversal pattern. Will might see a correction from here if 93k neckline is broken. A pullback into 70k will be next
I keep hearing the same thing: "Look at the Bitcoin chart; it's only gone up for ten years!" While that's an exciting trend, it's crucial to remember one key principle of investing:
"Past performance is not indicative of future results."
Every trading platform in existence echoes this sentiment because it's a vital reminder that history doesn't guarantee future success.
Bitcoin enthusiasts constantly claim to be more educated than everybody else, yet the only thing they've done is educate themselves about why they should invest in a Ponzi scheme. They have zero knowledge of economics, finance, or geopolitics—all of which dictate what happens in the markets.
The Bitcoin generation thinks 10 years is a long time, probably because most of you are not much older than that! Wait another 10 years, and then look at the chart again.
Markets shift in 10-year cycles. The winner of one decade is historically the loser of the following decade! You may very well be watching your portfolio slowly bleed out over the next 10 years...
BTCUSD wave C target 79.2k lines up with the equilibrium and wave C is typically 1.382 fib of wave A measured from peak of B. could technically be anywhere from 1-1.618 but most likely the 1.382 as there is lots of confluence there