At the time of this post Bitcoin is sitting at 8g’s. According to chart analyst the current prediction is a downward trend which has the weak hands a little nervous . But on the flip side there seems to be a lot of hype right now for the discount if you catch my drift ;) While all the Youtubers are spreading FOMO to their followers saying that we are in a bull run (even though we clearly are not) I do not blame the Youtuber, I blame the person watching because they failed to do their own research. Enough of the bullshit, lets get down to the good stuff! New predictions are coming out. According to the RSI stoch, 50 day MA, 200 day MA and a couple other indicators momentum is being lost. Translation “we going down bitches!” Lol But don’t get it confused, there have been plenty of warning signs. I know, I know you’re sitting there like wtf am I talking about. In English we are basically trying to find the new low, the new buy point. As of now the charting community has a bunch of different price predictions but they can all agree we are going to see a new low. What is it you ask? There is still a lot of resistant pressing downward. The 50 day MA is making sure of that. So far our low was $6,400 but I personally feel that new low will be $5,800. Now I’m no financial advisor so keep in mind this is just my opinion!
Going back to PT2 of this post, could this be the big boys or nah? Leave feed back in the comments.
Until next time people Cryptoboss420 signing out! Peace y’all
