Post by
mrmomo on Aug 24, 2021 1:24pm
Well.....if you fail
The first time..... then try & try....again! Well my dear friends, this past Sunday was the first real attempt at breaching the $50k wall. Though it breifly did, it was not sufficient nor long enough to overcome the resistance AND convince the legion of investors to continue investing heavily in the crypto plays. Not nearly enough my dear compatriots. What we need here friends, is a complete bulldozer type scenario where the $50k barrier is totally smashed AND sends a clear cut signal to investors to keep investing in this space for the long haul.
As i speak now, the tide has now turned negative for the time being and this has most probably delayed $50k being truly broken for at least a few more days.....maybe even up to a week or so. For those who are diappointed with this commentary, investors must realize that the $50k level has become a VERY strong resistance level, both psychological & on a technical trading basis, ever since it was breached months ago. Not only a resistance level my friends, but a VERY IMPORTANT focal point for certain groups of folks or institiuations who really don't want another big rally in Bitcoin and for it to continue gaining not only strength but more importantly acceptance & adoption. These people will throw EVERYTHING including the bath water, the kitchen AND the baby to avoid that event.
So until that time comes my friends, keep holding on to your Crpto & GBLC my fellow investors, s/h. As patience will be greatly rewarded to those who possess it and trust in it.
Good luck & God speed
Comment by
CHOCKYISBACK on Aug 24, 2021 7:29pm
Interesting point Momo...Regarding ADA: We may see it trade towards 3.50 before Labour Day ;)