Why not to fear BTC's drop in price
Hi everyone,
There's so much negative press every time Bitcoin drops more than $200 in a day. Fud creates more Fud until the weak are shaken out and the whales can scoop it up for cheap.
I'm here to tell you that this is not a huge surprise. Coindesk is claiming BTC has fallen out of a pennant and doom and gloom is upon us. That "pennant" which was neither at the top or bottom of the flagpole. Shitty TA to create more doubt, good on you Coindesk. /s
Anyways, BTC has been tracking rather well between the long term support and resistance lines and I don't fear it falling out of them this time. We're poised to bounce off the support line and create a new trend on one of the dotted lines. Both of the dotted lines have started to establish themselves, so we will have to see which one prevails as the emerging trend once this catches back up.
Good luck!
There's so much negative press every time Bitcoin drops more than $200 in a day. Fud creates more Fud until the weak are shaken out and the whales can scoop it up for cheap.
I'm here to tell you that this is not a huge surprise. Coindesk is claiming BTC has fallen out of a pennant and doom and gloom is upon us. That "pennant" which was neither at the top or bottom of the flagpole. Shitty TA to create more doubt, good on you Coindesk. /s
Anyways, BTC has been tracking rather well between the long term support and resistance lines and I don't fear it falling out of them this time. We're poised to bounce off the support line and create a new trend on one of the dotted lines. Both of the dotted lines have started to establish themselves, so we will have to see which one prevails as the emerging trend once this catches back up.
Good luck!
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