Bitcoin (BTC) Key Support Line + Fib Agree For Bullish Continuation
As you can see the key support line and the 38,20% fibonacci are agreeing that it's not an area just to break through, unless some crazy bad news.
I think the price is just on the way to retest the area before it will continue the uptrend and break through the supply zone.
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good call on the 38.2 retrace
I think we live in a market where even with all the trend lines and analysis, we really can't predict what is going to happen. The market snap swings at the smallest piece of news and there are so many weak handed investors right now. I love listening to these guys on youtube trying to tell us what is going to happen with Bitcoin or any other coin two, three weeks from now and in lots of cases 2 months out. Its hilarious. I don't think any of us could say with any certainty what is going to happen 2 or 3 days out. Be strong and hodl if you are truly in and let the market find its way. Buy what you trust and trust what you have researched.
Yea that's the best approach to take in my opinion. Go do your own research, invest in the projects you really believe in and have th best chances to succeed, and then just let the market do it's thing. I've almost grown detached from the emotions of a big decrease or increase in price. To be honest, i'm a bit more afraid of a big bullrun since I think it's harder to sell when the market is booming than holding when the market is in fear. I'm sure the market will get to new ATH's some day, so for me it's all about patience right now. And i'm fine with that :)
Agreed, at least many of the "analysts" do admit nothing is certain. It's the best though when someone refers to one correct prediction during the December bull run >.<'
We can't predict but with the correct analysis you will have the probability on your side.
Well said. It really is a unique market, making it hard to forecast. Although people are still behind the trading and will still do what people do. So analysis based on human tendencies may still provide a bit of usability. The market is still very young and therefor it's hard to gauge what the real value should be. Your last two sentences are bang on. I think it's going to pull back a little more over the next few days but long term should be good positive growth.
very informative post sir.
Economic analysis can influences the currency either to break the support line, I think this news will be a negative news either over bought or under bought .
"I think the price is just on the way to retest the area before it will continue the uptrend and break through the supply zone" Do agree with it. So, HODLing it without any fear. Tnx for your post.
Very good sir
Your analysis is really interesting, but I do not really understand about cryptocurrency and its prediction in the future, hopefully it keeps improving
good post
I am very grateful for the information
You are right sir i also think the price is on the way @tradewonk
You got a 13.48% upvote from @buildawhale courtesy of @tradewonk!
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