Good morning all. Lets talk about Bitcoin! As we are all aware this week has been crazy for crypto. We have seen the demise of LUNA wiping out many peoples portfolio's and crashing and burning. Bitcoin also dropped quickly during this time. But as we can see from the charts we can clearly see big buying pressure coming into play. The way we look at institutional buying area's on Forex compared to Crypto should be different in my eyes. Its all about price, it's got to be hasn't it? If the big boys are at play why would they drop price right down to the low levels of 10/20K. All that does is presenting a lot more every day Joe's to buy full Bitcoin's and giving everyone a lot easier chance to make huge returns. Aren't they trying to do the opposite? I am not sure i am only speculating, as that's what we all only do anyway.
I can see if we break this area then it does look likely we will visit 20K zone. But currently i see it holding. We did trade at lower prices at 25K . But we had huge rejection. was that your chance at buying in the 20k zones. This level looks to be holding at the moment, and if the weekly and monthly candle wick out then it could turn. Let me know your thoughts below, is it time to stick a buy in? GLIYF
Sure hope we start to see a recovery here. You could be right. The masses were all calling $100k for the end of last year and price turned around well before. The masses are calling bottom around $18k now, so no doubt we will also turn around before. It tends to do not what the masses predict, for the reasons you have mentioned. Let's see hey.