At the first sight of waking up today to a blackred blockchain my thought was 'ahhhh say byebye to the bullrun' as it will take time to recover from all of this.
And ofcourse with everything that is going on with rates, tariffs and other economical stuff in the world, it seems logical that the sentiment is all that.
Bitcoinchart at Coinmarketcap
On the other hand when zooming out, the Bitcoin game has changed a lot since the big boys from the ETFs came barging in. The moves are less agressive as it feels and more controlled by a bigger entity in the market. That doesn't mean that these moves are not violent at all and half of everyone feel liquidated all of a sudden.
Because yeah...it is brutal for a lot of people out there who are not just hodling but actively trading.
But on the other hand
Isn't this also not just basic TA and waiting to happen? After the election run it was all up only and hoovering around the 100K over there, but eventually at some point, doesn't previous ATH in the low 70K need to be tested?
And isn't that exactly what is happening now? Because when you look at the charts we are coming really damn close to about that point.
Bitcoinchart at Coinmarketcap
Ofcourse it feels like we are a lot more dependent on the general market sentiment linked to the macro economics, but that trend has been going for a while now. That trend is also not so shiny at the moment, so ofcourse we will see what happens in the end.
I don't know the hodl and just look away theory seems valid althoughts my alts look like they have been through a blender at the moment. On the other hand...are they worse compared to the BTC chart, not really.
It is all just perspective and let's just wait this one one. I do expect a little more drop though, monthly close today with always brings in a lot of movement and the US market still needs to open. And that might even be a serious brutal one that looks terrible...It's all fine
Bring out the fireworks for the weekend guys!
Massive disclaimer: These are just my thoughts on the market and there is no wisdom on this, so this is not finacial advise or anything. Do your own research and make your own decisions on any of these things.
-Use Bitvavo for easy crypto offramping to fiat.
-Join me on Kucoin for gem hunting
-Or even MEXC for the broadest variety of sh*tcoins to trade
Posted Using INLEO
In my very very basic TA, doing a fibonacci retraction of all the last impulsive movement, the golden zone would be exactly in the low 70s, just in line with a big resistance. It seems a perfect place for a retracement... and hopefully the start of a huuge movement up! 😉
I haven't looked... I just can't.
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