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RE: Crypto Bear Market Continues - What's Next ?

in #bitcoin • 7 years ago

One interesting idea was posted by @ew-and-patterns: Maybe we are done with the correction and today drop was just the rollback after the first impulse. My opinion is that correction is not done yet and there are couple more waves to the breaking point.

We are now near the $10 000 level... agree, here is the psychological barrier. All the eyes on the charts! Thanks for your analysis. Agree about the opportunities as well, who knows when will be the next massive correction.

Thanks for your analysis!

7 years ago in #bitcoin by
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     7 years ago 

    Thank you ! Very interesting indeed :) This is what I wrote on as a reply on the post

    I think the drop in price comes essentially from lack of buyers. Simple demand and supply can answer the question. After the tons of FUD buyers are starting to fade and weak hands are also out of the game. As I am writing this BTC is at 10,121$ and i don't see a scenario where we don't break below it. I really hope you are right, but I am kind of familiar with the psychology of weak traders/investors, so thats that. I guess we will have to wait and see ! If you are interested you can check my blog, just finished writing on the topic.

    I appreciate your comment, I hope @ew-and-patterns is right.

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