You are viewing a single comment's thread from:
RE: Bitcoin Bounce off of the 200 EMA
Sure, but look at how it bumped through the 10k line.
There's institutions out there who demand 8k and less, and we need them to be satisfied and buy in, so bitcoin will bounce a bit and then fall further, the earlier the better.
I mean, look at the volume. And then start into a new bull market, because w're in a bear market now.
No chance this can hold, just no buyers there.
So I guess they will try to freak out the last hodlers with some more fake breakouts (just watching one) and more FUD because they want to buy up their stuff.
Not sure if we are going to see that now or not. I will take advantage if you are right though.
It's hard to tell the time frame...but ask yourself if you expect BTC to catch itself now and start climbing steadily the way it used to ? Hardly. You can almost feel the fear, and if you were an institutional investor, you would smell the blood and want to wait for a lower rate.
If you were a retail one, you would... well I guess you would ask yourself, as you just said, when to take advantage.
I can only advise to watch whenever you can and be conservative with stop or buy orders because they may be triggered by deliberate hunting action while you sleep.
I personally expect 7600 to appear soon but there's others talking 6000 and looking at the next support levels close to 4k.
That is bad because it's unnecessary but if the mood is bad enough it will happen.
Market makers will be testing the possibilities.
The only valid counterargument is that there wouldn't be many sellers remaining soon, and that the true hodlers cannot be made to sell by mere FUD or an artificially crass drop.
Or can they ?