Don’t be fooled by these bears saying its going down to triple digits or this will last for years longer. The halving of is in mid 2020. This should be a big factor in it becoming again. The key thing to watch here is the weekly on . This does not happen often and in rare cases it does you want to be sure not to miss it. I’m thinking there can be 3 outcomes that are the highest probability of happening. The 1st thing that could happen is double bottoms forms another and capitulates 1 last time to show the weekly . The other option is breaks the low and creates a lower low to show weekly . If either of these 2 happens support should be at $2839 and $2400. The final outcome could be the price doesn’t drop below the weekly 200 and the price accumulates here and goes sideways for a bit.
Looking at the previous final drop of it hit the 1.618 FIB shown here. It nearly showed on the final capitulation but failed to do so. The showed up later on with a forming shown here.
Another thing to think about is, the stock indexes relief rallies are nearly over. In what way will this effect cryptocurrency? If there is a capitulation in the stock market, what will their capitulation do? Will it bring down? Will it do nothing? Will it bring it up and be used as a hedge? I’m not too sure and heard answers both ways. Be safe out there and know there’s still plenty of time to accumulate .
Published at Tue, 29 Jan 2019 05:37:45 +0000
