I hope you are all doing well.
I wanted to share with you guys why I am bearish
and why I believe it is smart
to be bearish
right now regardless of whether or not it will turn out to be right...
Recall, we are in a bear market and just as a matter of fact therefore, the most likely move is always down until the trend reverses. With this in mind, we are nearing the price resistance and all kinds of other resistance that you can read about here:
With this said, notice I said it was smart to be bearish
here. With that said, I would say being bullish
here is not very smart and the graph above is why. When bitcoin
bottomed, there were three occasions where you got to buy the bottom. This common in a bear market. Bear trends end in one of two ways: a v-reversal like what just happened in the stock market in December 2018 or a long drawn out period of shite like we have above.
With this fact, be smart, keep calm and don't worry about missing the chance to make money. The markets reward patience. There is no need to feel like the rocket is about to take off without you, if we have bottomed, you will get many more opportunities to buy near support, so don't buy at resistance!
I hope this gives you some perspective. Also, boy am I sure excited for the next bull market!