Hello all,
Yesterday I was showing you that prediction :
Here is the current chart :
We are still progressing towards the resistance line in orange. Let's see what will happen when we will touch it. We need a nice UP break out to break it and continue the bounce or we will go back into the direction of the support line in green.
I wish you massive profits,
Cryptopassion.io
Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
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You predicted it very well so far. Wow. Lets hope we break that line!!!
There will be a downturn when we touch it, we need one more lower low and likely at least touch 6000 once more before we can go up. We may also need to fall to 4k but I don't really believe that will happen...
The real question is how fast we will grow again after this next necessary dip - or when the bear market will end. Well, when fear ends of course.
There has been a big correction almost every year after Christmas, this one was harder because so many newbies were involved, so the shock was bigger, too.
BUT. We all know that bitcoin and alts can rise VERY high now... we KNOW it and we want to see it again.
It is us who can DO it. Problem is, most people here still only buy green.
That must change... never buy green. Buy red, and don't jump every time Wall Street shouts BOOOH!
what makes you sure we need a lower low and we'll get anywhere near $6k?
Technical analysis and comparison to the bitcoin market since 2012, there's loss to above 80% and we haven't reached that yet.
We are having a downward trend with patterns that repeat and repeat, we're in the fourth iteration of this and we recently touched 5800 at th beginning of a new iteration while each of the iterations ended up about 2500-3000 lower than the other- which would comfortably bring us close to 4000 or less. This is a definite and obvious trend that nobody half serious could have overlooked.
The only thing that could reverse the rend would be a sudden rise in investor morale or the entry of institutions but institutions are divided, some keep spreading FUD while others are taking on a cautiously positive view. Investor morale is of course dependent on these things, there's a little news window on the lower right sight of all free tradingview charts... lately, news are getting better, volume gets better - but still manipulation is rife and the powers that be don't want a rise when they have the chance to get in at 4k or even less - why would they want to do that ? Why would I ?
Why would anybody but a hodler, or folks who create posts on steemit, as positive posts simply pay better. cryptopassion is one I respect, he always presents a very neutral no-nonsense outlook, which most do not.
If this started to shoot up instead, I would be very satisfied and ride it of course but there is no reason why it should and about 75% against it, so I'm very cautious - and guess what, 90% of traders think exactly like that. Which is what makes it really relevant and rather predictable.
So if the tooth fairy and fifty whales don't suddenly decide to go all in now... but maybe they do.
Watch the parking meters...
I hope you’re right.
This weekend we should see a nice up tick in BTC which will help the whole market.
How long do you think it will take for the overall crypto market to regain to previous levels before the correction?
It’s tough to know how long this down-phase will last. My best guess is until May. That’s when we’ll have the big industry conference called Consensus.
The Consensus conference has typically been a period when we’ve seen a lot of new big money enter the space. In the coming days, I’ll go into what I think will be a big announcement at Consensus that will drive the crypto market’s next up-phase.
For now, be patient with the market. And remember how the tech space acted between 1990–2000. Every pullback&—no matter how steep or how long&—was followed by higher highs. I expect the same to be true in cryptos for many years to come.
But by that theory, the all time high at Christmas should never have happened, because the conference didn't take place then, and anyway it may have negative results. Big money getting into the market will make the market dependent on big money, which maybe isn't such a good thing...
Then again, some say the run before Christmas happened because of the Bitcoin Futures launch, and that this motivated the little investors. The futures weren't a big success, therefore the dump.
There's lots of theories. The only theory that truly holds is that human mass psychology drives the market, and that is only partially rational and largely emotional, as humans really have a very hard time doing logic.
So when you draw a logical conclusion from these known facts and theories, it is the expectations of the little investors mostly that drives the market, and you can see from the market cap that most have their money t the exchanges and get out of crypto and into fiat whenever the psychological shit hits the fan. IT IS THEY WHO DECIDE, but in the absence of free will herd animals follow the general herd impression and fear, in an out, in and out.
There's nothing else they can do, they must run in the same direction, and the on;y question to answer is the one above, and it should be "when will the stampede start?"
And you say "I know a guy with a pistol !"
If they all stayed, no conferences would be needed to motivate them, and the MASSIVE PROPHETS on steemit would be enough to drive the market to new heights...
And if herd animals had free will, the market would turn bullish after I write this, and keep going up forever tomorrow ;)
We need a closer guy with a pistol...
Would crypto currency be able to recover quickly in the event of a Wall Street crash?
thanks for crypto_ news,.it helps to steemit users
Finally, the price of bitcoin appears to be picking up a little, at least for the moment. The last four days have seen a stronger performance, after the market apparently bottomed out🙂
I hope the price will not plunge now😀
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regards!
excelente publicación
Thank you. What an accurate prediction you had, very impressive. Resteemed.
We investors in bitcoin just hope and believe that our forecast concerning the boom in the value of bitcoin actually comes to realisation because if it doesn't alot would really lose millions because much went into its investment. But with projected statistics,it sure will bounce back,its all about time. Thanks for sharing this info @cryptopassion
thanks for your sharing..
market cap to 1 tril by summer 🙏
Thanks for sharing.
I think next time we touch that resistance, we will break it with loads of volume. Look at the bigger picture! :)
