Please do take this with a grain of salt!
I'm a firm believer in crypto currencies, however, I do think that we will experience several larger retraces, before we reach 20k and before we reach ATH.
News wise Fundamental wise I do think this is a very bullish year so far, but a bigger retrace wouldn't surprise me. I will be happy either way if dip happens or not. Possibly more happier if dip happens.
I do think that we need to at least entertain possibility of a larger retrace! Historically, BTC has had a few surprises up it's sleeve, wouldn't you agree?
Other things to consider:
I would like to get another chance to buy BTC at 6k, however I do think that 10k is much more realistic bounce location. Crazier things have happened this year, though 😂
One of my first posts here. Don't be too harsh! Keep in mind that these are just my thoughts.
I'm a firm believer in crypto currencies, however, I do think that we will experience several larger retraces, before we reach 20k and before we reach ATH.
News wise Fundamental wise I do think this is a very bullish year so far, but a bigger retrace wouldn't surprise me. I will be happy either way if dip happens or not. Possibly more happier if dip happens.
I do think that we need to at least entertain possibility of a larger retrace! Historically, BTC has had a few surprises up it's sleeve, wouldn't you agree?
Other things to consider:
- RSI failed to make higher high
- I don't like candle formation, if we briefly forget last weeks candle (which looks minuscule on Weekly TF), we most likely will form a lower high this week.
- Since end of July we haven't had a week with higher volume. This weeks volume most likely be higher, still 3 days left. But lets not forget bloody Fridays, that tend to happen from time to time.
- It would be a mistake not to consider how important and reactive 200 weekly EMA on has been for BTC!
I would like to get another chance to buy BTC at 6k, however I do think that 10k is much more realistic bounce location. Crazier things have happened this year, though 😂
One of my first posts here. Don't be too harsh! Keep in mind that these are just my thoughts.