Just look at the , there was nothing. Buyers were too weak for me to begin a new rally. And stop getting because of a small uptrend. After a huge drop there will always wait a bigger correction for us, this is the normal circulation of a market.
Now here we are. The question is now: Is this the end of the structure?
My answer is: We don't know.
Let's see if we can break the bottom. If yes next big support is waiting at around $7000-7500.
I am and will stay until we see the bottom. No upmove in the world will stop me.
I wish you good luck my bears.
This will be another huge fall.
I will post new chart when we reach $7500-7200 because target stays like mentioned in the idea above.
So: Either we break in the next time or see a bull run to 13000 and then crash.
Once again this is just my personal opinion. 9.5k over this weekend is possible. Then on Monday and Tuesday we have the G20 summit. Japan, France, Germany and India have already outlined their views about AML and regulations. IMF chief wants to 'fight fire with fire'. US congress hearing on the 14th was not very good. It is just my opinion, based on my observations since 2013, that BTC is going to remain in a bear trend for a few months at least unless something very dramatic happens.
Back in April 2013, when BTC fell from $250 to $67 in a day, the reason was that Mt Gox was unable to handle the number of people visiting its website (not a DDOS attack). This was their statement.
These days bitcoin is much strong, but then what is being brought to attention is all negative. All cryptos are now being associated with terrorism, illegal activities, drugs, trafficking, ransom, and money laundering. The only positive words that came out on the 14th of March were 'protect the innovation' and 'do not over regulate'.
The question that we should ask ourselves is this: If we were a first time investors in cryptos, would we invest at this stage or wait till the storm was over?