Correction is here, HODL don't Panic
As much as we all want it to, prices can't just keep going up, they have to correct, nothing is immune to this law.
I won't even add moving averages, just look at the RSI, we were very overbought and now it is not. Momentum will turn around and we will be back in the green. I am not from the future, nor do I have a crystal ball, I am making assumptions based on previous performance (which is all science is). Let us look at gravity, in reality we have no idea how it actually works, scientist have observed that when objects have enough mass that they warp the space around them which causes objects to be attracted to them. We assume that since things behaved that way in the past, that they will continue to behave that way. Aside from Math, there is nothing certain in existence, one and one makes two no matter what, everything else is just observing the past and hoping the future will do the same. Investing based on charts and past performance is just as much of a science as gravity, nether could be proven past the point of theory. Please feel free to comment whether or not you agree.
Image by www.space.com
If this diagram was correct it would mean that any body that orbits a body would orbit in the same path. But look at how elections orbit the nucleus in this atom.
Image by www.britannica.com
Look I am not a physicist and I could be getting things way wrong here, the point however that I am making is that all science is just theory, because we do not know anything for certain. We may know enough to prove it now, but it can be disproved later. I will give one last example and wrap this up. We used to think that water boiled at 210 deg F or 100 C. We later learned that water boiling at 210 deg was dependent on elevation or pressure. So if we look at gravity and say for X amount of mass we create X amount of gravitational pull, as far as we know this is correct but but we may learn one day that different elements have different gravitation pulls regardless of their density (or something else). Anyway as I was saying we know how things have been working and assume they will continue to work, just like we look at charts and past performance and assume how assets will perform in the present/future. Lets start a discussion, we would love to hear everyone's thoughts on this.
I am not a financial advisory and this is not financial advice, invest at your own risk.