Long time no see!. Let’s start activating ourselves for this new Year and be ready for what is supposed to come on the market. Our 2018 Analysis on Bitcoin and crypto market Technically and Fundamentally were accomplished. Our Bear Position holding from around later March and start of April 2018 did great! Although when the moment came and finally broke 6k as any other human being, I got exited so, just in case there is some curious people reading this, no, I did not expect a 2500 points to fall in 1 single movement. I was being even more conservative about it. But that only confirmed the strength of the trend and the HEALTH of the market. If you wanna be a successful trader, join our Advance Trading Program.
So What do we have here?…
BTC Weekly Chart
We have a Bitcoin still plummeting. Now in one hand we have some bulls calling for a Bottom already at 3k, the same way they did at 6k by the way, with NO convincing argument in the fundamental analysis, and of course, theories full of opium. I will tell you with only one screenshot what do I see and words will not be necessary after that.
BTC Daily Chart
This is the same chart. Clear and Simple. To me there we have a dead cat bounce on the daily, showing a continuation of the downtrend, confirming the deep correction we are facing, and also following the same behavior of the rest of the markets like you will see now:
Stock Market DowJ-Nasdaq-S&P
Just examples of the most popular indexes in wallstreet, which by the way has been in a bear market since 2018 TOO, but no one wants to say it out loud. And this Is what some BULLS in crypto are missing out, Global Economy at it’s best, and you find them calling themselves ‘analysts’ and ‘economists’ or ‘experts’ but they miss to see how bad the world is in this field and then, we can see some calls at high levels that will never be reached (i.e. 5k-6k). So, with that been said, WHY would anyone invest in bitcoin at such a high price when bulls called for 6k bottom? or even now at 3k?, while one single coin is worth more than the average income of global population….
Well then, this article has the purpose to confirm you that we still have a bear trend, is clear as water, you can still profit from the downside just have to know how by asking to the correct person. First thing you need to know that bottom needs to be confirm before you call it a ‘bottom’ so don’t believe a guy who says ‘this is the bottom’. Bottoms needs time to form, only professionals know. So follow a simple advice and invest in your education like we do, otherwise you will loose money in this 2019 too.
This is only the prologue for what’s coming this first quarter. We will see the bottom soon, mark my words, I would expect it to be hit this 1Q, when it’s hit I will confirm you, but I won’t tell targets since I need confirmation too from the market. But I tell you this, 3.1k is not the bottom.If you wanna be a successful trader, join our Advance Trading Program.
Thanks for reading!