Hello Steemians!
Here's a post showing BTC scenario and What should you do?
The below image is showing on BTC journey to 20k and back to around 6-8k(the present)
According to the below chart BTC failed to break the blue line(drawn) and after touching it shows downfall.
After the last attempt it has not shown much downfall which was expected. Let's see how it reacts in next few upcoming hours .
We need price to breakout above the two important lines and levels for confirmation that the market hast started the uptrend and going to continue the same.
How December hike and the dip in Jan-Feb affected BTC?
BTC has eventually gained popularity and many media channels all over the globe have covered about BTC.
This is the time to collect BTC as we won't see BTC in such lows in the upcoming future. Big companies and whales who know the potential of BTC are already doing the same in this dip.
The Market Cap scenario
Here we can see the Market Cap of from December on (CoinMarketCap)
The highest was recorded on Sunday, Dec 17 2017 which was around $335 Billion.
The lowest was recorded on Tuesday, Feb 06 2018 which was around $102 Billion.
Here in this image BTC is compared with the psychological trading cycle that goes on/ trader faces!
In this image as we can see the BTC chart is almost following the Psychology of a market cycle and about to start the uptrend, So no need to panic, HODL
What to do?
As we all can see BTC is not breaking the line.
So for now you all can wait and hopefully we can see BTC cruising upwards in next couple of months.
We all know PATIENCE is the key and Good things take time.
If you are an expert/experienced in trading and know how charts work or been in touch with btc latest news
Do buy/sell to increase your btc stock!
And if you have lack of knowledge about the same
Buy btc at every dip and store them in offline wallets because in the upcoming future there are huge possibilities that btc will cruise upwards and there are less chances of btc coming back in 4 figures!
I have posted some charts and have expectations/assumtions on how BTC will react in the upcoming period. However, No-one can predict the market accurately.
Invest only that part of money which you can afford to loose.
Thankyou,
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