Stuck deep in the quicksands of Bitcoin's Bear Market!

almost 3 years ago (Edited)

Is the Big BTC BART Forming right now???

Screenshot 2021-07-03 at 12.27.43 PM.png During bear markets, I look for high probability BARTS!

Crypto is in a bear market!

"On June 19th, we had a Death Cross, when you have a death cross and price gets below the 200 day moving average, it's officially a bear market." Source: CryptoCrew University!

Screenshot 2021-07-03 at 11.55.14 AM.png Be Cautious trading longs below the Death Cross, you don't want to get stuck in the quicksand!

Ay, Caramba!

This is what it feels like creating this FUD Type of post on HIVE, especially when your HIVE just started going up!

The next major move for Bitcoin is coming very soon!!

The good news is there is some Bullish Divergence going on with the RSI, however the reality is price action is still stuck in the down trend.

Screenshot 2021-07-03 at 11.53.20 AM.png

If you want to learn more about trading, check out Steve (From CryptoCrew University) below:

Steve from CryptoCrew (Above), explains how Bitcoin has slipped into some very dangerous Quicksand Zone right now, and this is no place to mess around with it. On the bright side, there a slight chance that we can still break out of the quicksand, get over 40K, start a new uptrend, and break above a Golden Cross to our new ATH, (emphasis on "Very Small Chance"), However, buyer beware, if Bitcoin does drop and stay under 30K, all bets are off and we're going to 20K and maybe even away under!!! I hope you don't think i'm trying to FUD here, I'm invested in crypto and I have an incentive for it to go up, so I would never purposely steer you wrong. Sometimes it's just better to wait for the BTC storm to pass, and the dust to settle, and the quicksand to dry up before crossing. There is an old saying - Only Fools Rush in, into the BTC quicksand that is!

Follow @coininstant for more!

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17 comments

@abimbola753

almost 3 years ago

I believe your analysis as well. RSI has been showing some signs of divergence that shows that the price for crypto might become bullish very soon. So from the analysis it is adviceaable to buy more cryptos now when the price is low.

I tried to analyse the market using a verified support and resistance software that i have been using and it shows that soon the support below will help to push up the price.

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@coininstant

almost 3 years ago

BTC needs to increase by at least 40% for the Bear Market to end. If that happens the party will begin again and BTC will moon again.

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@jersteemit

almost 3 years ago

I guess no one love to hear FUD but it's important to stay smart in this game to avoid been caught in the wrong side of things. Thanks for sharing the CryptoCrew video. Will be paying close eye on his analysis and predictions

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@mrnightmare89

almost 3 years ago

Do you think the hive will follow or it will have a different route? By the way, if it's a bear market it means going up?

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@coininstant

almost 3 years ago (Edited)

It depends on how long and exaggerated this BTC bear market will be. For instance if we close under 30k on the daily, and continue to go down, it would add another 6 months to the bear market, minimum!! In that scenario a lot of alts would probably be drug down, including HIVE.
Screenshot 2021-07-03 at 5.29.13 PM.png
Oddly enough, analyzing the price of HIVE today, it appears to have just broken out of the downtrend, this could be the start of a brand new HIVE bull market - WOW!!. That's a really good sign for HIVE, as long as we stay above this red line we should go to the moon. Luckily HIVE has some good things going on for it later this year, so maybe is forging it's own path despite the bear market. Maybe this means it's HIVE alt season? hmmm. There's another coin named SHIBA that seems to be doing this same thing, it has so many catalysts that it's bucking the trend.

Another saying in crypto is buy the bear market fear, and sell the bull frenzy, that's how I've done it in the past, so at some point that saying will ring true again. I think the best thing for us Powered Up in HIVE is to HODL that, sell a little bit of earnings if we do cross back down under the red line, so if it drops back down to the lows again you can use the proceeds to take advantage and stock back up. I don't plan to sell anything I have powered up at all, bear market and all. Good question, I wish I knew how will HIVE will react to Bitcoin's big move in the coming month. Thanks!

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