The crypto tide is rising
Bitcoin has been a wild ride since it's inception and the volatility continues to shock even the most experienced investors. This last year brought about mainstream attention which turned the bitcoin markets into a casino where everybody wins. Those volatile cliff drops were short lived and All Time Highs were reached multiple times. Rewarding long-term crypto investors along with the stupid crowd throwing money they knew nothing about. Everybody became an amazing investor in 2017, worthy of advising anybody on how to make Mad Moneys and I assure you many did. Until about a month ago when those idiots who took that advice came back holding a rope.
Yup, we forgot those Bitcoin Golden rules...
- Bitcoin hates you
- Bitcoin wants you to loose
So unfortunately for those who weren't selling on the 2000% gains experienced last year - 2018 has seen this roller coaster move in one general direction...
12,000 foot direct plummet to the depths of hell
But...
We're still not dead! Although we could be flirting with the devil there is still some life breathing back into the markets. Just when you thought everything was over, the collapse was happening...
Recovery
This same trend happened last year a couple times but lacked the prolonged bleeding out period we just experienced in January. Once the selling accelerates and the price falls off a cliff do the big investors waiting on the sidelines jump back into the game and buy everything up. Now within a weeks time the bitcoin price has recovered nearly 50% from the extreme lows and the market has reached decision making time.
Where to now?
A couple days ago the priced bounced back hard once it hit $9k, and the retracing back to $9k has been a slow but rather steady process without much resistance. It seems like the large players enjoy playing in this 8-9K range as we have been here since last week, but now that we are approaching $9k again it raises the question if this is going to be the breakout bringing us back above $10k. Which was a huge psychological barrier many traders believed would never be broken once passed.
If the breakout occurs within the next few days - I believe we may just have witnessed a trend reversal! Which could bring about a new Bitcoin ATH within a few short months. Possibly before summertime so traders can enjoy some nice crypto profits in Tahiti or Dubai
If another bounce back occurs - Wait... The prices could be bound around this range of 8-9k for awhile as the markets take a cooling down period. I wouldn't worry too much unless BTC breaks below $7.5k, if that happens then the downtrend continues spelling more doom, gloom, and utter misery.
Personally, I am leaning towards a break-out. I think the market have been oversold on fear and should find a recovery range around $12-15k. I believe a Tidal Wave is brewing
What are your thoughts on the markets?
- Is this just a high-tide?
- Or the start of a Tidal Wave?
Comments are always welcomed
@generation.easy
Worlds #449 Top Bitcoin Fanatic
Great post - if you look back at historical technicals too, there has historically been selloffs in January/February of ever year. This year has been no different - granted with greater volatility. Of interest though is that banks from Germany and Liechtenstein have started cryptofunds and are now investing client funds in crypto. I think if we see that momentum accelerated, we'll see the liquidity needed to spike this market back up
Yeah a few people have pointed out the January selloff period. Crazy how its right on schedule every time!
Well, this posting is obsolete after only 5days. We are now nearing $11k!
Good analysis! It's a very important decisive moment now for Bitcoin. I think with the recent more bullish sentiment from government and media coupled with the fact that it was oversold will keep pushing the price up. But we have some psychological barriers ahead of us
Media has been slaughtering BTC. I hate those guys, such extreme emotions... And they are so ridiculous when talking about btc.
What did you hear from the governments lately?
I'm mostly referring to the crypto senate hearing, but I also remember the Eu banking system not mentioning any extra specific regulations against crypto which is also good.
Thank you so much. Everything is very competent and understandable!
"Personally, I am leaning towards a break-out. I think the market have been oversold on fear and should find a recovery range around $12-15k. I believe a Tidal Wave is brewing" - Totally agree with you!!!
Thanks, I sure hope its coming! Back to $20k!
Wonderful bitcoin
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Wow !! The bitcoin mystery can only be defeated with HOLD 😀😀👍👍