Bitcoin (BTC) price is still retracing from the massive rally two weeks ago, which leads the sentiment to turn bearish. Several signs indicate that the price needs to reverse quite soon, or the whole upwards move is deleted from the charts.
Let me know what do you guys think about the current situation of the market ?
I'd definitely appreciate your action of following and liking this post,
Thank you for sharing. My target is maintained at 6100 USD by Jan2020.
Scrembo
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@asgcorp, Interesting view, hard to say $6,100 at the moment.
Anpu
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Interesting review!
This is my view on BTC. I think the downtrend will continue. The recent price decline confirmed this, plus the fact that price was unable to pass through several important resistances. Also I expect that new bottom will be formed during this downtrend. Here I explain everything in details.
Would be great to hear your thoughts
dralerte
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“I expect that new bottom will be formed during this downtrend.”
... The moment you said ‘expect’... You were tagged as a newb.
Hope and expectations are not the vernacular of a trader.
Traders’ job is to REACT to price action. Nothing more/less.
Hope and expectations will only lead to disappointment.
Remember this moving forward. For your sake.
Take care.
Scrembo
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@dralerte, I understand your perspective and understanding under the "expect based on hope" assumption, I am not falling into that category of interpretation.
The assumption lays down the base of the interpretation, such as " I expect " is based on assumption.
In my case, the assumption is "I expect" is based on the price analysis and data assumption not any personal feelings , prayers or hopes.