Crypto right now : Panic will only burn your account
Back to our main topic which is still the bitcoin as we are seeing the price is now tanking and the majority of twitter users are screaming out loud once again about the $10000 possibility over and over again.
This is actually very funny for us as we know that the price usually moves in the inverse way comparing with what the twitter said. When the herd is in fear, we must be very very greed, that's the mindset we have to maintain to become a great trader.
Yes, the bears are taking over control of the market right now but there isn't still any confirmation that the price will eventually goes to the downside as the price is still respecting the yellow support trend line as a key trend line on current structure.
As long as the price doesn't show us a confirmation of breaking below the yellow support trend line, the possibility of upside movement back to $21000 area is still there.
But if the price break below the yellow support trend line, we may see some confluence zone which the most important is the area of $16000 as we anticipated earlier on BTC update. Also, this $16000 level is now moving in alignment with the -.382 Fibonacci retracement level.
Just to be honest, $10000 is still very far away below current region. And before we claim the $10000 region, there are a lot of major support below that must be respected by the price.
Once again, Panic will only burn your account.
This is actually very funny for us as we know that the price usually moves in the inverse way comparing with what the twitter said. When the herd is in fear, we must be very very greed, that's the mindset we have to maintain to become a great trader.
Yes, the bears are taking over control of the market right now but there isn't still any confirmation that the price will eventually goes to the downside as the price is still respecting the yellow support trend line as a key trend line on current structure.
As long as the price doesn't show us a confirmation of breaking below the yellow support trend line, the possibility of upside movement back to $21000 area is still there.
But if the price break below the yellow support trend line, we may see some confluence zone which the most important is the area of $16000 as we anticipated earlier on BTC update. Also, this $16000 level is now moving in alignment with the -.382 Fibonacci retracement level.
Just to be honest, $10000 is still very far away below current region. And before we claim the $10000 region, there are a lot of major support below that must be respected by the price.
Once again, Panic will only burn your account.
