BITCOIN SOOOO BEARISH NOW, PRICE ACTION ANALYSIS
DOWN BELOW I AM SHOWING TWO TIME FRAMES 4HRS AND 1DAY CHARTS OF $BTC
I THINK THE DOWNTREND IS JUST STARTING ON BITCOIN (ITS GONNA GET BLOODY IN MY OPINION
WHAT IS YOUR TAKE ON THIS CURRENT PRICE ACTION STEEMIANS?
4HR CHART
1DAY CHART
A part of why I'm much more investor than I am trader is because this chart and the many things it's supposed to implicate go over my head. I'll admit that BTC is bearish in the sense that there's a lot of doubt in the market regarding rumors of a hard fork on the testnet. What I don't get is what that means to people and all the speculation that goes with. The price of btc could do exactly the opposite of what this chart implies it's supposed to.
My money is already invested as a store of value. The actual price of btc isn't entirely relevant to me unless I'm looking to buy/sell right then. I only sell to pay bills/buy stuff right now and most of that I still do with fiat. Point is, regardless of what happens, btc's value is too strong to deny. Even if it forks, one will win, the other will lose, or they'll duke it out and share the overall market cap of what a unified btc would be.
It's not like bitcoin is going to be worth $1000 overnight. If I had no bitcoin at all, I'd actually be really excited right now. As a holder, I'm just concerned with projects that multiply what I have. More x$1000 or More x$5000 is still More x$ALot.
These are still good times... great times if you want to buy with fiat, because speculations can leave people short sighted. It surely happened to me, who could/should have bought into btc way earlier.