Hey Team,
We are steadily losing volume due to mixed signals accompanied with the usual weekend declines. Overall price action is not responding well in this scenario (bearish flag pattern) as many have converted over to USDT and are currently remaining on the sidelines waiting for better signals. This is completely normal and like we've seen and stated in the last post we will see slight drops until tomorrow. Tomorrow will determine where we are trying to go, but I will state that the "Slightest news in a negative manner could cause a lot of short-selling which will drive the overall price down below 8,8k. Be prepared for this. One positive note, we continue to work towards bullish actions as we are establishing growth with financial institutions and governments accepting the market and inserting their own covenants and/or specific regulations to accept the tech behind all of this. I'm not saying it will completely work, but these are signs that it is being accepted - long-term is there for many ALTS and the FIATS. I find this to be a huge positive because it the past it was assumed no action would be necessary as this so called "bubble" would fade out. Acceptance is always a positive regardless of what other TA's or Cryptonians would say. Look for another small inverse "H&S" pattern forming with a steady climb back above 9,6k moving into Tues or Weds. Please understand we need a strong jump to keep people interested in the market over the weekend, at this time when this happens, we will finally move in the direction we all want to go. I will never stop saying this - ITS ALL ABOUT TIMING...
Thanks,
We are steadily losing volume due to mixed signals accompanied with the usual weekend declines. Overall price action is not responding well in this scenario (bearish flag pattern) as many have converted over to USDT and are currently remaining on the sidelines waiting for better signals. This is completely normal and like we've seen and stated in the last post we will see slight drops until tomorrow. Tomorrow will determine where we are trying to go, but I will state that the "Slightest news in a negative manner could cause a lot of short-selling which will drive the overall price down below 8,8k. Be prepared for this. One positive note, we continue to work towards bullish actions as we are establishing growth with financial institutions and governments accepting the market and inserting their own covenants and/or specific regulations to accept the tech behind all of this. I'm not saying it will completely work, but these are signs that it is being accepted - long-term is there for many ALTS and the FIATS. I find this to be a huge positive because it the past it was assumed no action would be necessary as this so called "bubble" would fade out. Acceptance is always a positive regardless of what other TA's or Cryptonians would say. Look for another small inverse "H&S" pattern forming with a steady climb back above 9,6k moving into Tues or Weds. Please understand we need a strong jump to keep people interested in the market over the weekend, at this time when this happens, we will finally move in the direction we all want to go. I will never stop saying this - ITS ALL ABOUT TIMING...
Thanks,