Bitcoin Can't Get Away!

#bitcoin #ethereum #altcoins #crypto

Well traders, guess where Bitcoin is at? Once again, it is flirting with our multi-year support/resistance trendline from 2019. It seems that it just can't pull itself away. Like a magnet, Bitcoin continues to be attracted to this level. Now, if my projection of the inverse head and shoulders pattern is correct, then we should pull up and away soon. However, this market has even me doubting its capability of doing so right now.

Ethereum still has not reached the 3200 price that I had suggested we could wick down to. Looks like that is where it is headed.

Altcoins continue to bleed badly following Ethereums lead and exaggerating the move down to the Nth degree. We can now see that expectations for an altcoin bull market have been shaken badly for many traders (I am not one). Altcoins are deep into oversold territory on many charts. Some are down 90%+ from their high this year and many traders have now decided to sell, salvaging any remaining value they had. Ouch!

Fortunately, my overall trading portfolio is only down %25 overall. And while this is quite a drop, I understand that it is not what many altcoin traders have already suffered. I will continue to hang on for dear life (HODL) until this bull run begins. As I stated previously, I am tired of the games the market makers are playing here. I just don't care anymore.

Again, my disclaimer. None of this is financial advice. I am only here to entertain you all with my poor choices. You do you.

Stew