I've gotta say, the last 36 hours of price action took me by surprise. I definitely thought I felt capitulation on the spike to $7,500. I guess I was wrong. Sentiment seems incredibly bearish, especially considering the fact that we've already dropped nearly 70% from the highs.
Like people never experienced a BTC dead cat bounce before.
The weekly close and the sustained bearishness definitely suggests the possibility of a new bear market. But I'm still sticking with my guns.....there is definitely a mega bounce incoming. And $13k-15k is still on the table.
Whether people dump the bottom first is another matter.
Like people never experienced a BTC dead cat bounce before.
The weekly close and the sustained bearishness definitely suggests the possibility of a new bear market. But I'm still sticking with my guns.....there is definitely a mega bounce incoming. And $13k-15k is still on the table.
Whether people dump the bottom first is another matter.
This will go down in history as one of the most outstanding moments in crypto market, where the mighty falls dragging on its quests. If and when this market recovers, the market should prepare for a more bullish trend especially from new adopters.
However, like its commonly said 'brace for impact' as it would seem BTC hasn't touch down yet.
Like with all analysis maybe the doom of this was in the number of people beginning to follow and believe in it. Makes for an easy target for manipulators. Poor sheeple.