The way I see it, Bitcoin pumped so hard in November and december that it exceeded the natural growth line. Kind of like taking a loan out. It was in the negative, and needed to pay that money back. Just like credit card bills after christmas, the bill collector came calling, and old Bitcoin needed to pay back that big loan with an equal amount of dip... The chart shows from left to right- 1 huge spike (loan 1), a second less huge spike (loan 2). Then one less huge dip - paying back loan 2... And we need that repayment on loan 1 before we can move on to take out a new loan! I think we will travel down this decending channel until we hit that $6,000 "double bottom". That should make us even with the loan sharks (the bears!). Then we can boom over the summer.
I am no expert, I just know the market is driven by emotion. We were greedy greedy pigs... we are paying our dues now. Once we make that last payment, we will be released from jail and allowed to run wild again. I think everyone looks at this chart and thinks this in the back of their head.... we didn't quite pay our dues just yet... almost!
I am no expert, I just know the market is driven by emotion. We were greedy greedy pigs... we are paying our dues now. Once we make that last payment, we will be released from jail and allowed to run wild again. I think everyone looks at this chart and thinks this in the back of their head.... we didn't quite pay our dues just yet... almost!
Commento:
Wow, did you see Bitcoin bounce off the 200 day moving average today? Got bitch slapped back down to 8800 after touching the 200 day at 9200.... "not in my house!"
