This is just a breakout and re-test for Bitcoin

in GEMS2 months ago

There's nothing to see here

People are starting to get worried about big brother bitcoin.

But I don't really see anything to be concerned about just yet.

We had been consolidating for over 2 years, ever since we peaked in December of 2017.

Then we finally broke out of that massive wedge pattern to the upside.

All we are seeing now is some throwback to that breakout:

(Source: https://twitter.com/CryptoMagnified/status/1303065279392485376/photo/1)

I don't expect the price to go much lower than it is right now outside of perhaps a quick wick.

If I had more cash I'd be buying anything I could under $10k.

Unfortunately I need another round of stimulus before I will have any extra cash again. Ugh.

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