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Bitcoin: BTC And Chinese New Year Of The Rat (January 2020)
Bitcoin is finally doing what we have been anticipating for the past few days. While the price was trading around $8,700, we talked about the probability of a decline down to the $8,000 level. So far, BTC/USD seems to have found temporary support at the $8,300 level but it can fall lower down to the 61.8% fib level. It is not likely to decline significantly below $8,000 because that would defeat the purpose of the bull trap that the big players are trying to create. There is a lot of effort that has gone into this trap and they would want to make sure the bulls have good reason to go long.
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Do you expect an October, 2019 styled correction in the market again?
Bitcoin is “rat poison”… the rat is the bank and banker
All Chinese New Year activities has been cancelled because of the coronavirus outbreak.
I am just a beginner in this space, but I suspect ''they'' will bring us down to around 7 600. Thus forming a bigger inverted head and shoulder. That measured move would bring us to 11 300 (imagine the FOMO past 10 000). Best way to fool everyone, make more money for ''them'' and then bring us down.