BTC no fomo

2 Apr 2020

There is so much fomo going on right now. Its like no one cares that we haven't built a bottoming pattern yet. I suspect a lot of fomo buying going on right now just because there is so much confluence at resistance lines without any support being built whatsoever. Pain will follow. Who can say really how high or how long the fomo goes on but there is a good place to buy and 6600 is not it rigth now. We could see 2 scenarios play out with 1 touch to 4600 as the new higher low and another scenario with 5050 as a new higher low. 4600 would be a much better support and have a lot of strength behind it and given the global economic situation i don't think its a stretch to expect it. 5050 is a reasonable target and will most likely hit before we take off to infinity and beyond.

Also tether. sigh.

2 Apr 2020

Catatan

Another point I forgot to mention is that there is very clearly a downtrend in 3 day volume while price continues to go up and stay up. That is very bearish and will turn ugly at some point. Hard to say when.

3 Apr 2020

Catatan

Lots of pain for 7200+ fomo buyers right now. Will tether printer reward their fomo choices?

6 Apr 2020

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