caimano

Another couple of weeks of sideway around 10K - 8K

POLONIEX:BTCUSDT   Bitcoin / Tether USD
I am very nostalgic when I watch back the BTC             charts in 2017, up and up and up every day, the Golden age!
BTW, usually, my feelings and the general feeling of the community are quite reliable about the future trends in Crypto.
I have learned very hard the lesson that any kind of TA in crypto is BS unless we are in the few days of bullish , all the other days simply does not work, TRX             , XRP....Resistance, supports, Fibonacci etc...they work since BTC             going up when BTC             going down it just brings with him everything....but that time is almost gone!
It`s clear BTC             is losing the leadrship, personally I sold my last BTC             at 19,500 back in December I was 100% sure that reaching 20K in a couple of weeks from the 10K level, was almost impossible without paid a very large "penalty", since then I have been cauoght in the bull trap at 17,000 fortnatelly with a very small amount, but from that moment I have considered BTC             way too risky: mainstream media consider BTC             as "The Crypto", in their misleading reportages they just talk bad all the time, THE BUBBLE ' THE BUBBLE IS BURST, Warren Buffet, Bloomberg all the same tools that spread enthisuasm are now spreading panic and FUD, and the center of everything is BTC             now (very soon will be ETH) .......... So, why should I watch my money drain out because of these freaking FUD?
Let's wait the storm passed.
My vision for the future?
Well BTC             spent a couple of weeks bouncing up and down between Fib levels 0.236 and 0.382, then another 2 weeks between 0.382 and 0.5 now we are approaching the critical level 0.618, we could spend a month bouncing at this level, but the volumes and the sentiment does not sustain any kind of uptrend movements at this point.
Unless big news, but really BIG NEWS, probably in the next 2 months we will reach the 5K range at Fib level 1 at that point the lighting network development should be able to wipe out the entire negative sentiment about BTC             (fees and scalability) and more extensively about Cryptos and at that point new money will come in again to pump all the prices up again.
In meantime, some regulations will come in the game to clean a little bit up this freaking wild west from assholes like But connect, Theater, disgust changes that freeze up the account and all another thing that makes this market too risky for professional speculators and investors.
We just need to be careful about the sporadic uptrends during bullish days since could be dangerous, at these levels of volumes, to trade on long positions or to open new position to HODL, the market could go always lover and the accumulation could become a neverending story where you just accumulate and you run out of money!
Also, did you guys check how the other markets are going right now? Commodities , tech stocks etc charts? They look alike BTC             at the golden age!
Be patience, this revolution is already started an nothing can stop it.

Kommentar: Just enter in the 8K area, ready to bounce on EMA 100 on the daily chart. It looks like the EMA 100 is a good support for this first phase of the fall.
I am expecting a good bounce tomorrow, this is a really attractive entry level.
We could reach, with a strong rally, the FIB level 0.382 at 12,5K ....
But pay attention to the February 6 CFTC and SEC hearing on Bitcoin, this freaking event could ignite the new fall to test again the 8k level.
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