Rising panic for the formation of descending trend
Rising panic for the formation of descending trend due to the Diagonal pattern
In the case of bitcoin, the diagonal pattern is under the formation, which is in the 5th wave from point 3.
The uptrend is likely to be extended up to the range of $ 66,000 to $ 67,000, and in continuation, it is expected the downtrend forms in wave 4. The probable drop might progress up to $ 30,000.
Personal point of view:
I am a person who believes in Bitcoin a lot but in my opinion, it is not perfect and many other networks are more complete than it.
But the main thing is that I still could not get an answer for its momentum. We had a lot of growth in all digital currencies, which caused inflation in traditional markets, and with the liquidity of digital currencies everywhere, this inflation enters the traditional markets (Fiat currencies). If this happens, what will happen to the markets? What is the government's strategy for this amount of liquidity? we know that if inflation causes prosperity and employment might be good for the economy, but what about this kind of inflation which is based on production and job creation? Assuming we have reached the end of the Fiat currencies era (like in the era of commodity exchange and barter), where is my location in this story? Should I forget these cross-terms and be hopeful for a $ 500,000 target for this cryptocurrency?
I entered an unknown world that I do not know which path should I take. This happened to me 10 days ago and in my personal life, and currently, I become more doubtful with thousands of paths to choose.
In the case of bitcoin, the diagonal pattern is under the formation, which is in the 5th wave from point 3.
The uptrend is likely to be extended up to the range of $ 66,000 to $ 67,000, and in continuation, it is expected the downtrend forms in wave 4. The probable drop might progress up to $ 30,000.
Personal point of view:
I am a person who believes in Bitcoin a lot but in my opinion, it is not perfect and many other networks are more complete than it.
But the main thing is that I still could not get an answer for its momentum. We had a lot of growth in all digital currencies, which caused inflation in traditional markets, and with the liquidity of digital currencies everywhere, this inflation enters the traditional markets (Fiat currencies). If this happens, what will happen to the markets? What is the government's strategy for this amount of liquidity? we know that if inflation causes prosperity and employment might be good for the economy, but what about this kind of inflation which is based on production and job creation? Assuming we have reached the end of the Fiat currencies era (like in the era of commodity exchange and barter), where is my location in this story? Should I forget these cross-terms and be hopeful for a $ 500,000 target for this cryptocurrency?
I entered an unknown world that I do not know which path should I take. This happened to me 10 days ago and in my personal life, and currently, I become more doubtful with thousands of paths to choose.
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