Bitcoin Now Vs Pre-COVID Fractal: We Might Have Our Pattern
The sentiment today was disgusting. The euphoria from bulls was just ridiculous all around. People don't get rewarded for awful behavior and by doing the same exact thing as everyone else.
If markets were that easy, everyone would be rich. And if these analysts were that good, they'd have also got the top and the bear market right
They NEED this. So they are so emotional.
I am calm, and stoic, sticking to the strategy I outlined.
This was the case where I was better off sticking to my original plans, but risk management says I was supposed to short resistance
If we got a lower high. it would have been the right move and a very safe trade
This trade is now a lot less safe, as we don't really know there the top would be.
So we have to look for Fibs. Where we are at is in line with the pre-COVID expanded flat
This was the original plan. and we hit $87K like I targeted. I did say as much as $89K and really I see a zone at $93K also
OF course, this could go higher. Much even. I just really don't think so.
There's no real narrative for Bitcoin to do anything.
Way too much risk
From volatility and reflexivity the most we could do is one more ATH, but it would immediately reject and come back down like a ton of bricks
I see that as MORE bearish. as it would do more damage to both sides
Price stopped at the same Fib. same exact RSI level
Something to watch
Oddly enough, it was this exact pattern and fractal I had been calling for all along. I only recently changed to pivot to the price action
I am better at planning ahead