- Bears won the game!
- During the whole period of flat, bulls were targeted by a number of scam spikes.. not mentioning any names but BitMEX may have had a role to play in this.
- During a time period with little volume mixed with little volatility, everyone is in the same boat not making money and making impulsive plays
- Can see the entirety of this move broken down by the countless touches of $9950 resistance level and the failure to break through. Hence why we saw this dump down to $9188
- Originally when price started dumping I thought it'd keep going down to at least $8.6k, mostly due to the fact that we haven't had a decent crash since 'beer' virus.
- Obviously not bullish right now, i'm sitting all in tether and waiting for re-entry
- $8.6k is still in the cards, just need more data and time to tell honestly
- Price does seem like it's holding $9188-$9369 accumulation zone and this fake-out dump could just be a retest of that to shakeout weak hands
- Honestly though, my thinking about this is that in order to break through $10k now after failing to do so multiple times, could see a heavier dump back down to that $8.6k range I was talking about.
- It's going to take a little bit for trend to reverse
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