***BTC showing a bullish return but is it enough?***
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BTC showing a bullish return but is it enough?
Here we can see bitcoin has formed a good example of a bottom head and shoulder's pattern but to have faith in this comeback, we can see at point (D) in the eliot wave that is would need to find support at the neckline for it to become a proper reversal in the longer term trend.
keep faith but be vigilant as I see profits taken at the first sign of resistance that could send us back down to the downtrend in a short amount of time, however I do still see a long winded consolidation from Decembers very bullish run with lots of investors reluctant to gamble thus taking profits at the first available opportunity, others that have been holding through the bearish trend would probably be eager to take profits also.
Thank you for taking the time to check out my STEEMIT, please note I am not a professional trader and my projections are not trading advice. please do your own research!
Follow me @callmecrypto, upvote this post & RESTEEM IT
I dont think we will see a 10k BTC again.
Hey @callmecrypto, the markets are pretty crazy right now. Crypto is back to a weird space but I know long term it's still what we're all hoping it will be! Cheers
This is a rough mock up of the likely view we may see over the next month as it gathers momentum again. I agree it will hit a great height again this year also but till then its caution to the wind for me.
Yea I'm thinking consolidation on the daily first.....then take off again. BUT, I also think there's a lot of pullback still left in the market, so we will see.
Are you in it for the technology or taking profits?
you have to also think about the fudders that like to wreck the party haha. I am long term in crypto and want to look back one day and think I was one of those pioneers that helped it grow.
It isn't all about the money but it sure does help!