I really wish that I had something very exciting and positive really to tell you guys but unfortunately, the situation in the market isn't exciting in both the bearish and the bullish direction let's break down some of what we do have here let's look at the fact because obviously everyone wants to throw out the theories of you know for example this falling wedge or the theory of how we're about to get a massive bounce or a massive dump.
but the deal is I'm actually seeing a situation where the market is still trending towards the downside in the short term
I've been telling you that for quite a long time but more importantly a situation where the market overall doesn't know what it wants to do and let me show you why now first of all before I go into it I want to break down a couple of things for you long term with Bitcoin for flies are still bullish it's very hard to be bearish with Bitcoin in the very very long term because well the long very long term chart is absolutely undeniably bearish with one caveat the caveat here is that at the day of the all-time high futures trading became an institutional thing and when Futures Trading becomes an institutional thing that means leverage enters the market and more importantly that means you can now make money on the downside as well as on the upside and obviously if you can make money trading an asset downwards then that's usually what the asset does the asset just starts trading sideways
Bitcoin goes into $20,000 and it's hard to get excited for Bitcoin go into $3,000 because the reality is that you just do something in between and that's not exciting that's not sexy and that's reality and so with that in mind, of course, I am very long-term bullish and that doesn't mean I don't think we're going to end up breaking 20000 in the long run
my opinion just because we have been trading sideways for so long and that does mean when the volatility returns it kicks really hard.
Posted using Partiko Android
Congratulations @cryptoraxer! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Welcome to Steemit @cryptoraxer :)
Gotta be patient.