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Volatility Breeds Volatility

edicted

Published: 08 May 2019 › Updated: 08 May 2019Volatility Breeds Volatility

Volatility Breeds Volatility

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I was going to write this tomorrow but now seems like a good time,
considering 7000 Bitcoin were just stolen from a Binance hot wallet.

I hope Bitcoin crashes to $4200.

We see huge swings in the market every month. The bigger the spike we see, the bigger the incoming correction, and vice versa. We are just now coming out of a 16 month correction and tensions are high.

$6000 is a big mental resistance barrier for Bitcoin price action. We've been hovering just under that level for a while now. Traders are worried that there isn't enough momentum to break resistance, and they are probably right. However, if Bitcoin crashes down to $4200 support quickly, I believe the momentum from that would be more than enough to break the ice to catalyze a significant summer bull run.

I am actively saving up as much as I can in the event that this crash occurs. If so I'm putting it all into Bitcoin at $4300 with the intention of trying to ride that up and dump to another coin to attempt the mythical double run up.

A man can dream.

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