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RE: Bitcoin (BTC) Morning Update: Trendline Support is Holding Steady
Update: Bitcoin drop going as forecast. Second medium normal retrace target is the scope at 8,758. It could rise after. But the February low didn't
hit its normal retrace. I am not so certain this drop wont go below February's low.
You mean - we could get another and this is going to even a lower low?
I'm mostly out. I'm hanging onto a small amount of BTC and a few popular alts, that's about it.
Yeah, it takes nerve to HODL. 😀
Possible, but I was wrong on the first drop (I thought it would go lower). I thought it would go to 5600/5300 and Ripple .047. The targets are still valid. But this is out my pay-scale range. I have never witnessed such large moves in such condensed time frames. I play comparative moves. This thing has no blueprint to compare too. I want to say yes about reaching those targets. I just cant.
I will say nothing is spectacular about 8658. Its just a normal retrace. The numbers don't provide an opinion. What happened in the past is not a certainty of what will happen in the future. I figured 11,670. resistance. Had a better than 3 to 1 chance to force 8,658.. It still hasn't happened. I want to take baby steps in the forecast. At some point some chartist may target 6,800. Like I said, I want to target lower. Pattern wise I do target lower. But man the % of the moves are astronomical in the time frames.
Oh and thanks for the vote. I sent you one and a follow.