How much of a crypto market bounce can we expect??
I wrote this a few days ago and posted the chart below.
Well, we are back at another buy level for a bounce, and now I am waiting on an entry.
Bitcoin has proven that it is still the leader in the field, and whatever it decides to do, the Altcoins will follow. And of course as it happens, many of the other coins are also at buy areas. Now we just need the entry signal!
This entry would be for a short term bounce, as I still want the markets lower overall.
We are currently getting that bounce I wrote about, so what next? Well this is what I see.
As I keep saying, I only need to chart the BTCUSD as the altcoins will follow.
Disclaimer
I am not responsible for any losses you may incur as a result of acting on any of the content contained in this article. I make no recommendations to buy or sell, and this post is purely for information and education purposes. Opinions expressed here are my own, and you should seek advice from a financial adviser.
hi there!!!! so what does that mean... the bounce? does that mean the price of steem is going to start going back up?
i want to buy some steem :) so i'm hoping it doesn't start going up until i'm ready to buy! hehehehe
but....I'm here on official pirate business ;)
remember on March 1 when I said I was gonna celebrate my 500th follower with all of the PYPT people who pimped their post that day?
I didn't forget ;) I was just out of the country for some time! hehehe now i'm back and tip! simple
enjoy!!!!!! :)
(by the way - the tip service seems to be lagging tonight - so hopefully it will be in your wallet by tomorrow morning!)
Yes these trading terms can be confusing. A bounce means a short term pullback or retrace in the current trend direction. So when the price trend is down overall as it is currently, a bounce would be a move up in prices for a few days before it continues back down again. Eventually one of these bounces will prove to be a turn in the trend, but it is difficult to tell when this will happen.
I had forgotten your promise :). Thank you, and congrats on topping 500 followers.
I see now!!!! And I know EXACTLY when the bounce will be the actual turn in the trend.
It will be months later, looking back when I say DARN IT!!!! WHY DIDNT I BUY THERE!!!!
hehehehe
And yes.. so sorry for the delay in delivering my celebratory gifts.... But 600 is closing in and I have a fun idea planned for that... And I'll be more on the ball with gift distribution hehehehe
See you tomorrow at PYPT? :)
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Fingers crossed we get a big bounce soon!
(that's a good thing, right? 😊)
Bounces are great if you're getting in and out with the bounce :). Sadly, I still want the markets lower overall for the next couple of months. That's just me, I like a solid foundation before I build anything. I like a good solid bottom ;).
Hey, I think foundations are great too. Bouncing too much hurts my brain... 😂