Incoming Pain for Holders
Bear flag, broke! Yeah, it’s possible for a pump as RSI is showing Rev Div, but too many bearish signs. What’s more is RSI fell far out of support, which is a pretty clear signal (to me) of a bear market. Also resistance at 40, 42, 44.4. At this stage I don’t see any relief pump breaking 44. I don’t think even 42 will break actually.
I’ve said it before, I’ll say it again, adoption does not equal price up. The more people who adopt, the more people can dump the market. Besides, if I was the reserve bank, I would have bought this a loooonnngggg time ago with all the free money I print so I could dump it when it gets mass adopted. Who do you think created it anyway. Some unanimous dude from China? Humph!?! Who do you think created USDT. Someone who isn’t affiliated with printing USD. It’s exactly the same…
How bout that cashless society huh? The world banks have been pushing BTC since the get go. Anyway, that’s all speculation, just bs in most peeps eyes.
So back to tech analysis.
Bulls have a slim chance here. 38 needs to hold. Otherwise it’s 34-32-29, as per measured move of flag breaking. But if we go back to 32, you know what that means, the up trend has failed, and it’s very likely we go lower. So really, IMO, 38 is the last hoorah. If you want your (established) alt season, pray that 38 holds. Otherwise if you play the trend, this might be a good entry. But it’s dangerous. It is a rising channel, typically bearish but also the beginning of parabolic up trends. Don’t like it though. It looks nasty.
If I was me, and I am, I’d spend my money on something tangible that can be used to make more money during the recession, like tools, hobbies, electric vehicles, solar, batteries, a garden, a water tank… not women, or a debt, or pants with holes in the pockets, or digital currency, which can suffer a further 40% loss. The problem is, the further the price dumps, the more people sell out, which causes the price to dump further.
From the get go, the media has been warning you the dangers of crypto investment, like a passive aggressive ass reminding you they told you so. Don’t be that guy. By all means if you didn’t buy the top, buy at half price, or buy at a 90% discount. But if this recession really is all it cracks up to be, buy at a 95% discount.
Stick to what you know. Metals and commodities go well in a war. So does useful assets, like a nail gun, or a chicken, or a toilet paper tree. I hate to say it because I don’t support it, but devil stocks also go well, you know, alcohol, tobacco, porn, pharmaceuticals, weapons. But if you buy that shiz, you deserve to live in hell. Learn self sufficiency, and kindness, and educating yourself, assets that pay you back forever. Just say’n.
Good luck, pray that I’m wrong.
I’ve said it before, I’ll say it again, adoption does not equal price up. The more people who adopt, the more people can dump the market. Besides, if I was the reserve bank, I would have bought this a loooonnngggg time ago with all the free money I print so I could dump it when it gets mass adopted. Who do you think created it anyway. Some unanimous dude from China? Humph!?! Who do you think created USDT. Someone who isn’t affiliated with printing USD. It’s exactly the same…
How bout that cashless society huh? The world banks have been pushing BTC since the get go. Anyway, that’s all speculation, just bs in most peeps eyes.
So back to tech analysis.
Bulls have a slim chance here. 38 needs to hold. Otherwise it’s 34-32-29, as per measured move of flag breaking. But if we go back to 32, you know what that means, the up trend has failed, and it’s very likely we go lower. So really, IMO, 38 is the last hoorah. If you want your (established) alt season, pray that 38 holds. Otherwise if you play the trend, this might be a good entry. But it’s dangerous. It is a rising channel, typically bearish but also the beginning of parabolic up trends. Don’t like it though. It looks nasty.
If I was me, and I am, I’d spend my money on something tangible that can be used to make more money during the recession, like tools, hobbies, electric vehicles, solar, batteries, a garden, a water tank… not women, or a debt, or pants with holes in the pockets, or digital currency, which can suffer a further 40% loss. The problem is, the further the price dumps, the more people sell out, which causes the price to dump further.
From the get go, the media has been warning you the dangers of crypto investment, like a passive aggressive ass reminding you they told you so. Don’t be that guy. By all means if you didn’t buy the top, buy at half price, or buy at a 90% discount. But if this recession really is all it cracks up to be, buy at a 95% discount.
Stick to what you know. Metals and commodities go well in a war. So does useful assets, like a nail gun, or a chicken, or a toilet paper tree. I hate to say it because I don’t support it, but devil stocks also go well, you know, alcohol, tobacco, porn, pharmaceuticals, weapons. But if you buy that shiz, you deserve to live in hell. Learn self sufficiency, and kindness, and educating yourself, assets that pay you back forever. Just say’n.
Good luck, pray that I’m wrong.
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