AARGH BITCON! What Are We Gonna Do Now? Is Crypto Dead?
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Hey Friends :)
Bitcoin is down in 7,500 USD while I'm writing this (-8 % last 24 h). Altcoins are also bleeding and are in average -15 % down. The Global Crypto Market Cap is 330 BL USD. Obviously horrible 24 hours for crypto.
People ask me what to do in a situation like this. Bitcoin is in red our alts too? Do we sell everything or what?
First of all: What we have witnessed today has surprised most of us. Not the fact that we dropped to 7,500 USD - but the way we did it. We just fell hard. Not even a decent up wave. RSI on 4h was 18, which is the lowest we have had in a year. It means completely oversold - People panicked!
If you have all the time in the world and is super skilled is obviously optimal to trade every swing. That is optimal - But also very time consuming. Its very hard for me to advice you what to do, since I don't what coins you are in, and what strategy you have. OR if you even have a strategy or use money management.
But when it comes to Bitcoin at this moment, let me be straight honest to you, its very hard to determine the bottom at this moment after that hard drop. The best advice is right now I can give you is to be aware of all the support zones which is all even numbers and the 500 intervals:
7,500 USD
7,000 USD
6,500 USD
6,000 USD
4,8xx USD
Just to be clear - I'm not saying that we will go that low. We can see a reversal and a new beginning up trend already now. Whales have already liquidated a lot of longs, and most people are terrified, so this is possible we will go up from now.
Don't let you scare by people who are panicking and start to call 3,000 USD now :) Easy.. The market is definitely shaken at the moment. We just fell through like we had no support. Only happens in Crypto because its such a new market. When we go into a bull market again, it will also be like that just the other way around. We will recover again - don't worry. That is part of the game.
D4 Loves You <3
Good luck to all of us - Please leave a like, my friends :)
Bitcoin is down in 7,500 USD while I'm writing this (-8 % last 24 h). Altcoins are also bleeding and are in average -15 % down. The Global Crypto Market Cap is 330 BL USD. Obviously horrible 24 hours for crypto.
People ask me what to do in a situation like this. Bitcoin is in red our alts too? Do we sell everything or what?
First of all: What we have witnessed today has surprised most of us. Not the fact that we dropped to 7,500 USD - but the way we did it. We just fell hard. Not even a decent up wave. RSI on 4h was 18, which is the lowest we have had in a year. It means completely oversold - People panicked!
If you have all the time in the world and is super skilled is obviously optimal to trade every swing. That is optimal - But also very time consuming. Its very hard for me to advice you what to do, since I don't what coins you are in, and what strategy you have. OR if you even have a strategy or use money management.
But when it comes to Bitcoin at this moment, let me be straight honest to you, its very hard to determine the bottom at this moment after that hard drop. The best advice is right now I can give you is to be aware of all the support zones which is all even numbers and the 500 intervals:
7,500 USD
7,000 USD
6,500 USD
6,000 USD
4,8xx USD
Just to be clear - I'm not saying that we will go that low. We can see a reversal and a new beginning up trend already now. Whales have already liquidated a lot of longs, and most people are terrified, so this is possible we will go up from now.
Don't let you scare by people who are panicking and start to call 3,000 USD now :) Easy.. The market is definitely shaken at the moment. We just fell through like we had no support. Only happens in Crypto because its such a new market. When we go into a bull market again, it will also be like that just the other way around. We will recover again - don't worry. That is part of the game.
D4 Loves You <3
Good luck to all of us - Please leave a like, my friends :)
Nota
Pleeease! Bulls scared to death. Completely oversold - RSI 18. No bullish volume. No, no, no!I cannot see us go up before 7,000 USD at this very moment. Sorry to bring bad news - only thing, that can safe us from taking this detour are whales helping us up!
Not even 7,200 USD looks good anymore.
D4 <3
Nota
I'm in the airport now btw. So I can probably not keep you updated - the last 6 hours. Im gonna knock my self out with an Alprazolam and hope I weak up when Bitcoin is in 10,000 USD.Take care, friends :)
Nota
Edit: The next 6 hours.Nota
D4rkEnergY is back!! Unfortunately the Xanax was not enough put me in deep enough sleep and wake up in a bull market.But that was also what I predicted :( We are around 7,340 now where we have weak support from my tunnel as you can see and the uptrend line - the next support is 7,200 USD, which is equal to 78,6 % Fibonacci Retracement - as I said earlier it is probably not enough, and as I see it right now, we have to go below 7,000 USD now.
Expect a decent uptrend attempt around 7k-6,830 USD.
D4 <3 And GL to all of us :)
Nota
So we got a decent bounce just above 7,200 USD. The question is it enough, and do we have enough buyers to follow up on this.We have regular bullish divergence, but have seen many times the last days, that the bears don't care about that.
I'll follow up on this later :)
Nota
Starting to look better for the bulls - its not super convincing so far, but they have an opportunity to consolidate inside the pennant, and eventually they will be able to go higher. It obviously depends on, how many buyers we have - but we are definitely seeing more bullish momentum.D4 <3
Nota
Regular bullish divergence, flag, we should go up soon!! Nota
And here is the flag pole, my ladies and gentleman's!! Bulls are slowly gaining more trust - that is exactly we need if we want to see a new 1-5 EW structure! Nota
Good morning, friends! Here is the last update, and I will make a new chart, which give you a bigger overview.But here is the deal so far!! We need to get those impulse waves going!! They have not been super strong - as I see it, we still need one subwave up!
Its very crucial we eventually get through my yellow circle 7,800 USD, which is equal to 61,8 % retrace. IF we don't manage to do that pretty quickly we will be caught in the big bear flag or pennant, which then will take us down to under 7,000 USD most likely!
D4 <3
Feel free to give a like - it would make me happy! :)
Nota
Not a lot of action :) But bulls are still following the waves even though its not super convincing :) Let's hope this 3rd wave can get us trough 7,800 USD!D4 <3
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