I Stand Corrected

In yesterday's post, I told you I thought the price would remain above 70K and we would bounce from there to the next level which I have said many times is 75K before the end of the month which I am still advocating and watching the market for. That said we did get the sideways movement I was looking for just not where I thought it would be. We broke the 70K mark and found support at the 50% Fibonacci retracement level which happens to be right on top of an old consolidation line making it a very strong support level.

This level is where we are getting the bounce and moving sideways not where I previously mentioned. From there we were able to get back to the 70K Profit Point but not through that level and it caused a reversal, but not to worry (mostly because that and all emotion has no place in trading/investing) it is normal market behavior and most likely won't take us any lower. So, from this point, I'm looking for more sideways movement and then back to the Bull Run. Worst case scenario the ETF market has cooled down and we see a steep reversal before the Halving. But that is not going to happen and nothing is telling me it will...just a worst case that came to mind.

So, as the slight reversal happens we should catch some support from the same block that saved us last time. Currently, it is working and we are in the 1:00 pm candle and it is getting pushed back strongly from the consolidation/fibonacci level combined. This is where I expect us to remain for the rest of the day and we will also get some more sideways movement before continuing to 70K and getting back on track to 75K and above. 

This Bull Run is just getting started and I for one expect to see big things come from this cycle, BIGGER THAN EVER BEFORE! So, buckle up, strap in, and enjoy the ride because it should be wild with the craziest prices we have ever seen and for some people ever dreamed of. I come from the "DCA Until I Die" camp and I will never stop investing/trading crypto.