What About A Short-Term Correction? Can Bitcoin Crash?

4 hari yang lalu

Some people are asking about a short-term correction, a pull-back and lower prices in the coming weeks and days. What do you say?

Absolutely! It is possible to see a correction but this is not confirmed. Remember, we have a sideways channel, a trading range.

If we go with the scenario that the market is consolidating until late February, then we still have plenty of time for more "noise," price swings. But, any swings would still remain within our sideways range breaching only slightly the lower support. Let me explain.

Say prices move lower and back to test our 90K support. Something similar as just happened recently; prices can move down, wick below support, create a new low just to resume going up. Then it goes up and tests the upper boundary of the trading range. The upper boundary sits around 100,000 and 108,000. And this pattern repeats until the market breaks.

You can call it a retrace, a correction or simply additional sideways and long-term consolidation. This is all noise. When the next move develops, it will be a bullish breakout and Bitcoin will grow.

Bitcoin is bullish and consolidating in preparation for the its next rise. It can happen within 2 weeks just as it can take an entire month or more. Only the market knows when it is ready to move. Think of late February, something like 23rd February for a chart, market, that is 100% bullish and fully confirmed.

For now, Bitcoin is bullish and moving higher. No corrections are present, a retrace just ended three days ago.

The bullish move can last for days or weeks, testing resistance over and over, if resistance holds, then another test of support. Again, sideways/consolidation. When this period is over, Bitcoin will end up breaking up.

The proof is in the Altcoins, we are seeing massive growth around the Altcoins. The Altcoins would never grow if Bitcoin was set to crash. The Altcoins are growing because Bitcoin is growing; Bitcoin is growing because we have a bullish market, bullish dynamics, bullish sentiment and favorable conditions developing all across.

Bet on the upside.

We are going up.

But, what about the correction?
It can happen, it just isn't happening and we are now at 100K.

Hitting 100K is a strongly bullish development, why the sudden change?

If you want to lose money just go bearish, the whales are more than happy to take your money away.

If you want to make money stay bullish... Numbers don't lie, look at the volume; we are going up!

Namaste.