Bitcoin Correction - What are Your Safe Havens?

21 Jan 2021

I really don't know for sure...

As you can see, I have been talking about this day since DECEMBER... LOL
Now it is here.. what comes next?

These coins are doing better than others against the fall
They recover faster or resist falling as hard

ETH
ADA
LINK
SNX

Are we done correcting?

Probably not. Some experts feel the falls will stabilize at 32k or 28k.
Some say we are destined for 25k
Some say the true bottom will be 19,000-something
I have also heard 14k and 17k, but not lately

21 Jan 2021

Catatan

21 Jan 2021

Catatan

In spite of how horrified many might be by this current correction... if BTC calms down and just stays at this level... the bull run for the alt coins should begin.... (In theory)

21 Jan 2021

Catatan

Hocus Pocus

Bitcoin now in focus...

The way price stays inside magical green lines....
that I draw in advance of movement...
seems to me a feverish Disney dream.

I re did the lower boundary of this triangle just before the latest crash.
And still..
Always amazed by how price behaves within these whimsical TA rules.

21 Jan 2021

Catatan

I hope you all realize how much this BTC top is in danger of a blow off...

21 Jan 2021

Catatan

This is a rising wedge..

If the price stays in the range... it could regain some ground
BUT it will need a bull run before it FALLS out of the channel
Rising wedges usually end bad.. unless it goes straight up from massive buying

22 Jan 2021

Catatan

So as you see, the rising wedge fell through

Which I stated is often the case anyway.


But it's late here and I'm exhausted...

Tomorrow we need to talk about where price could go...


Be advised...

Some authors on Tradingview will be saying:

The bottom is in!

Moonshot to 38k

and so on...

But technical indicators.. AND.. past historical data... do NOT support this.

As a result.. even the outside experts I trust and follow, are making contradictory calls...


We will know more in about three more hours, but I should be fast asleep.