Bitcoin + Crypto Market's Slow, Pitiful 2-Month Recovery
Hey guys,
Alright, so the "month long break" that I took sitting in fiat had me a bit rusty at reading the market. With no motivation for money to be made; I half-a'd any calls on drops, etc. I've made.
I however dusted myself off; and have begun to really focus in and study things again.
With that said; I think the crypto market took a really, really big correction hit and it is very likely we don't come out of this with some magical rebound to $20k. Here's a quick timeline:
1) We take another. sell-off crap dive to $5.6k'ish.. this should be the last of the capitulation aka the last bit of people hanging on for dear life. The last big of blinded by optimism hope these bulls have in their system.
2) We make a huge bounce back to $9k from $5.6k'ish bottom. Where we double-top $9k and start the dwindle down.
3) March is another month long of slaw'ness. A slow dwindle of slow red bleed back to a crazy low of $4k (possibly even more, who knows at the moment). March will have some moments of side ways movement which will allow some alts to attempt a run (which will be followed by an immediate 100% retracement lol)
4) Near the end of March; once we hit a pitiful super low we can't take anymore and depression has consumed the crypto world all the way. We make a reversal and a slow rise back up in April.. followed by some pumps here and there. Prepping us for a huge summer. =)
Now; I made one of my infamous breakout coin calls on XRP. I don't know exactly how this will fit into things. Although the market will go down; some alts can go up and stick it's price possibly, depending on news. XRP will be one that I will be watching VERY CLOSELY to see how it moves against the overall market movements.
Alright, so the "month long break" that I took sitting in fiat had me a bit rusty at reading the market. With no motivation for money to be made; I half-a'd any calls on drops, etc. I've made.
I however dusted myself off; and have begun to really focus in and study things again.
With that said; I think the crypto market took a really, really big correction hit and it is very likely we don't come out of this with some magical rebound to $20k. Here's a quick timeline:
1) We take another. sell-off crap dive to $5.6k'ish.. this should be the last of the capitulation aka the last bit of people hanging on for dear life. The last big of blinded by optimism hope these bulls have in their system.
2) We make a huge bounce back to $9k from $5.6k'ish bottom. Where we double-top $9k and start the dwindle down.
3) March is another month long of slaw'ness. A slow dwindle of slow red bleed back to a crazy low of $4k (possibly even more, who knows at the moment). March will have some moments of side ways movement which will allow some alts to attempt a run (which will be followed by an immediate 100% retracement lol)
4) Near the end of March; once we hit a pitiful super low we can't take anymore and depression has consumed the crypto world all the way. We make a reversal and a slow rise back up in April.. followed by some pumps here and there. Prepping us for a huge summer. =)
Now; I made one of my infamous breakout coin calls on XRP. I don't know exactly how this will fit into things. Although the market will go down; some alts can go up and stick it's price possibly, depending on news. XRP will be one that I will be watching VERY CLOSELY to see how it moves against the overall market movements.
Kommentar:
Either my timing and price were off on this bull trap. Or it's never going to happen. If it crosses $9.2k; it might really break.