Bitcoin Trend Series / EP. 523 / Gripped by Hysteria - Perfect Buying Opportunities
Time: 6.43 P.M. / GM+2 / 10th Mar, 2018 – Sat.
In our previous post / 522 / we had forecast the trading range will be between 8.34K and 10.15K, and the trading was on this range.
Bitcoin had a fantastic run and the run-up was so spectacular. Any market that has experienced such a spectacular run must also experience a back-breaking correction.
If you check over the net you will see the sentiment is bearish, and bitcoin experts are still enthusiastically issuing low targets of 3K, 1K and lower!
Do these experts look at the charts before issuing such targets, after ingesting some toxic substance? Hard to answer. I think, they issue lofty targets that have a very low probability of being hit because if the market trades to these levels, they become instant heroes.
My point of view as holder and trader:
Bull market took a breather the last week.
Experts expecting bitcoin to surge to new lows ( 3K and 1K ) could be in for a shock the next months.
The crypto space is susceptible to FUD ( Fear, Uncertainty, and Doubt ) to a degree that is unprecedented in most marketplaces.
Entire populations move money in and out of crypto based on mainstream news sharing select stories.
The last week was filled with FUD ( Gripped by Hysteria ) regarding the future of crypto.
One of the things we pay very close to attention is investor sentiment, and as the bitcoin camp is in gripped by hysteria, we feel that it’s most likely to surge to new highs from the hysteria zone.
With panic come the perfect buying opportunities, the reason why I believe the long entry around 8.40K is perfect.
Note:
- If you are trader, place your SL below 8K.
- If you are investor, HODL.
For at least another hundred years we must pretend to ourselves and to every one that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury and precaution must be our gods for a little longer still.
John Maynard Keynes
Support : 8400.00 level (Major).
Resistance : 10200.00 level (Major).
Expected trading for today:
is between 8400.00 support and 10200.00 resistance.
Expected trend for today :
Bullish
Medium Term:
Bullish.
Long Term:
Bullish.
The low of 2018:
5947.00 / IHS Bottom.
The high of 2018:
25000.00 level / Expected.
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thanks as always! I will get access to my 2fa in a few days.. Ive been forced to wait, LuckY! im guessing in a few days might be a good time to get back in..
Thanks for great suport
New update was done now
Have a great sunday
I guess this market is so easily manipulated that Btc could reach incredible lows (such as 2k). But you need inmense fear in the market to do so..
Sadly, now that the big mafia institutions are interested in cryptos this might as well happen. Is our responsability not to fall for this traps and hodl for years to come. Cheers!
its possible, but you have to remember that bitcoin also has HUGE support.. so when one group of whales trys to DUMP and crash it, another group of supporters come and buy it up on the cheap. Well thats my opinion anyways..
Luckily btc IS decentralised enough allow for some whale interplay!
True that.
Nice assessment, we need to hold $8400 and price needs to take out the sell orders at $9350 and $10000 in order for price to move higher.
I respect you. You can write everything pretty well.
I find the sweetness in your writing.
keep it up and well done!
Hi @lordoftruth 😊
Chart reading is just a craft which you have to learn. Not every analyst really has a clue and the cryptocurrencies are different anyway.
I also think that we have arrived here in a region where it is worth buying, what i did yesterday at this place
I like your posts 😊
When bitcoin will be at $2000 to $3000 it will be a buying opportunity. Right now it's still a risk unless you like catching a falling knife.
well, u have to balance this with the possibility of missing the boat. IF you are willing to miss it, then wait for 2K,, BUT if you are not willing to miss it, then id buy in soon!
Love the images the pull the bear and the anxiety index. Thanks for that.
This post has received a 8.97 % upvote from @booster thanks to: @lordoftruth.
Seems like a game of whack-a-mole for adults!