Wednesday, June 15, 2022 6:15:37 PM
While we were all having fun in SD, we all didn't really notice the ongoing bear market that much. It basically started mid November 21 and took another serious nose dive again late April mostly due to macro economics. Then SD halted. Luna on top of it. Then Celsius and USDD... It happens.
In general, crypto whales use news and events to push price down further as always. It's a cycle. Be aware of intermediate bull traps (like we may see one currently imho) and continuation of bear pressure after on some new negative news. BTC sub 20K and ETH 1K seems like the liquidation target after which we can slowly start thinking of accumulation phases again by institutions before true reversal and next bull wave. For this, I occasionally zoom out to monthly and weekly charting of BTC that still confirm bearish momentum and continuation for now. NFA
On the positive side, when crypto markets reverse it can go up very fast - unlike any stock. You only have a loss when you sell at a loss
In general, crypto whales use news and events to push price down further as always. It's a cycle. Be aware of intermediate bull traps (like we may see one currently imho) and continuation of bear pressure after on some new negative news. BTC sub 20K and ETH 1K seems like the liquidation target after which we can slowly start thinking of accumulation phases again by institutions before true reversal and next bull wave. For this, I occasionally zoom out to monthly and weekly charting of BTC that still confirm bearish momentum and continuation for now. NFA
On the positive side, when crypto markets reverse it can go up very fast - unlike any stock. You only have a loss when you sell at a loss
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