On the Daily and Weekly, the BTC price has broken down on the descending triangle. We've all been waiting for this for weeks now, the catalyst as everyone knows by now is the pointless BCH civil war, between Faketoshi, Calvin Arye and Jihan Wu, Roger Ver. Stop losses and and resumption of the break market environment is the cause for further continuation down.
Some positive points, we should want capitulation now rather than later, it's always best to get the pain started earlier. 2nd, what's going on is a few billionaires and millionaire whales selling their BTC, so we are getting more diversification of holders now.
I'm dollar cost averaging in now, the price has broken Tone Vaye's $4975 which there was a small bounce, but pretty weak imho, and that makes $3000 much more likely now. If you can go short, good luck... I've been back to an investing / accumulation mindset since we broke down past $6500.
Some positive points, we should want capitulation now rather than later, it's always best to get the pain started earlier. 2nd, what's going on is a few billionaires and millionaire whales selling their BTC, so we are getting more diversification of holders now.
I'm dollar cost averaging in now, the price has broken Tone Vaye's $4975 which there was a small bounce, but pretty weak imho, and that makes $3000 much more likely now. If you can go short, good luck... I've been back to an investing / accumulation mindset since we broke down past $6500.