Well it happened and now its gone, Bitcoin 3000. The target of the large Head and Shoulders pattern in Bitcoin met its goal earlier this morning. Unfortunately it was a couple hours before I woke up, so I missed it! I know alot of you did as well, either you were asleep like I was or you were scared to buy because things are hard to buy at lows. So what do we do now? Well we do what we always do, look for an entry! As I write this Bitcoin and Ethereum are consolidating and we can only know where we are going when this consolidation is completed. Many coins are consolidating, Ripple, LItecoin, Dash, Iota, OmiseGo. All are consolidating after this large shakeout.
Its hard emotionally to know what to do in this situation. We all struggle with this, but all we can do is trade our plan and remove the past from the present. Dont hold onto the opportunity that you dont have in front of you. You have to concentrate and whats happening now.
I have been asked this question a lot today, is 3000 the bottom in Bitcoin? I dont have a clear answer to this, it will become clear to us all in time. We have levels of resistance that need to be broken before we can call 3000 the bottom. But I do know that Bitcoin 3000 should have taught all of us that we have to trust the charts and that we cannot let our opinions get in the way of what the charts are telling us