BEARS YOU MADE YOUR PATH, WHERE ARE YOU TAKING US?
4 Days ago here we called a H&S Super bearish pattern forming in both BTC-ETH.
THE BEARS have its path now how far can they take it today?
Buyers appeared to prevent more losses (for now) around 268 for ETH and around 3780 for BTC.
BLOOD on the STREET as the market loses over 10Billion OVERNIGHT
Is there any coin gaining today?
An important one? Not really...
THE TRIGGER
People could say that this sell round started with the statements of Chief Executive from JP Morgan, Jamie Dimon calling the cryptos a bubble worst than the tulips and calling BTC a "fraud".
Usually fundamentals (news in this case) come to confirm what the charts were screaming for a long time.
It was the perfect excuse to get the markets a free fall, but you want my 2 cents?
JP Morgan has an important stake in the Ethereum Enterprise Alliance (EEA) to recklessly talk about cryptocurrencies as something worst than the tulips and to say that someone is going to get killed or something like that, to me that's bullshit!
Bubble or not you're in it (AS ALWAYS) so cut the shit.
What if the goal was to get a selloff to buy that dip? Don't be surprised...
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Selloff just starting! Great post @originalworks
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that's the main point--any time the news screams that bitcoin is going to fall, when you look at the charts you can see that it has been due for a correction for a LONG time, but that the chart confirms the correction has been underway for a few days. Bitcoin could fall down under $2K and still be in a bull market long-term.
Totally, every time that happens i just hold my beer and prepare my positions.
STEEM ON bro!
I saw the head and shoulders pattern on bitcoin by myself, so I'm glad someone else sees that thing. I think bitcoin and altcoins might go down for at least next few days. Upvoted! :) I invite you to my today's technical analysis https://steemit.com/cryptocurrency/@risingfox/bitcoin-where-is-the-major-support-for-bitcoin-fibonacci-retracement-h-and-s-pattern
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Some of them are truly great.
No need to get too complicated with all this - it's just a buying opportunity. Key is to focus on quality
Thanks @erodriguezc11.
Jamie Dimon is another "kittie" that makes fud and false waves regarding crypto world.
For now, banks can't accept in public these without a government acceptance.
There is also China with its similar fud. The media plays around with thins like "china bans...", then they say "temporary ban" etc...
Some cities in swedwn, if i remember well, did accept bitcoin as tax payment (a small amount for first) and others did around the world.
It is a shy beginning but... it is.
So, news from this kind of people and fake celebs like Paris Hilton, will create fud all the time.
Who believes in it, just hodl!
:-)
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