Bitcoin Bounce Looking More Like a Dead Cat!
In technical analysis there are many fun labels for price moves. One of my favorites has always been "dead cat bounce."
The definition of a dead cat bounce is when prices temporarily recover after a large selloff. Usually, it's caused by short sellers covering their position (more so in the stock market).
That is sort of what Bitcoin's price moves have looked liked over the past month.
Schrodinger's Cat
I'm taking a different viewpoint though. Are you familiar with Schrodinger's Cat?
Basically, there is a cat in a box. The question is if the cat is alive or dead? As long as the box is closed in theory the cat is both dead and alive. It's more so a thought experiment, the possibility of either outcome gives hope to all sides, while opening the box will give definition and likely joy and/or pain by now knowing.
Open the damn bitcoin box!
I want someone to open the damn bitcoin box to find out if this coins alive or dead. Cause to be honest, the price action looks rather dead...
And that last sentence, plus some price targets is what I discuss in the below video.
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Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.
Free e-book: ScaredyCatGuide to Knowing What the Heck Bitcoin Is
Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.
it's better to start buying now than trying to time the bottom at this point, there's a good possibility of missing the train when it leaves trying to time the absolute bottom. I'd rather be on the train waiting :))
Makes sense to stage in buying, especially if one cannot watch price actively. ON ANOTHER NOTE, did you comment, upvote your comment but not vote on my post? SAY IT AIN'T SO...
Upvoted lol :)
Hehe, much appreciated ;-)
awesome post about bitcoin and you may happy to read another new cryptocurrency trade https://steemit.com/cryptocurrency/@alrashel/ripple-xrp-new-sensational-cryptocurrency
Nice video, thanks for sharing. I've smashed the upvote button for you!
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Nice video my friend. This is not so surprising I guess. Those who thought bitcoin price will "never go down" are such idiots. There's no such graph as straight upward or downward line. It's "always" up AND down. The good thing about this is price going down is "It will soon go up". I'm a believer of HODL and patience :)
Always look for the positive angle. It's much better to buy here than buying at 15K ;-)
Hmmm this Is a very interesting post about bitcoin with actual information.
The irony is that this is light on information for me, usually my posts have even more. Wow, all the crypto clowns out there have set the bar low at this point ;-)
Leave the cat in the box for 2 more months. May be the cat is just unconscious ATM.
LMAO...I'm good with that plan.
Another is "relief rally." When someone excitedly posted about Bitcoin's jump, I commented: "What a relief!"
No-one picked up on the in-joke.
This post resteemed by @sift666 I think it is worth a read.
https://steemit.com/bitcoin/@supercrypto1/4th-dimension-bitcoin-manipulation-cartel-price-suppression-is-the-goal
That was one wild read!
iam a vietnamese trader, i have a all chart altcoin, It will be useful to you.sorry if i bother you. but i bet you will be interested with it, and we will have a discussion about crypto graphs.
https://busy.org/@sonpham1997/bitcoin-update-bitcoin-trends-today-06-04-2018