Don't get greedy! The top may be in or close, in BITCOIN!
Updated
This screenshot shows the trend angles. For some reason upon publication the main chart on this idea doesn't display them correctly.
Please note the above idea is just my opinion.
Please discuss yours. :-)
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100% transparency and disclaimer here. I originally thought 6k would cause a significant correction. Then 6.2k, then 6.5k. That never really materialized. So I could be way off here, I just don’t think so.This rally does have the potential to literally turn parabolic, which is why in my opinion it’s best to slowly scale out at major resistance with stops just below major support.
This rally could very easily be the next bull market beginning, or it could just be a massive B wave forming with a C wave bear market yet to go. From what I’ve learned in my past year and a half of experience, this seems like a textbook B wave to me, but I’ve also been wrong a lot recently.
Take that for what you will.
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Fair warning, we have a bull pennant forming and it seems to be attempting a break to the upside. Target would be $8,500/$8,600 which would be a perfect candidate for a top. I still believe we are very close if not already topped out, so be careful here. But to those of you that I have warned to sell, this move is possible and so is a move to upwards of 10k. I believe the ultimate top will lie somewhere just after 9k or right at the 10k border, IF we get that far. Stay safe.
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Crossposted here from an idea by @MrRenev-I'm an amateur, but it looks to me your short may be spot on. If we don't overextend yet again, anyway.
The black box IMO is where this should of stopped, but they heavily overextended it. There was gigantic sell volume in the sell candle directly underneath the black box. I believe this is where smart money exited.
The white box is where I believe this rally ends, to fill shorts.
The higher this goes past the black box, the harder and faster we're going to fall IMO.
This is gonna be fun to watch.
Let's see what happens everyone.
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This could very easily turn into a gigantic 3rd wave with a huge retracement, then a push to 10k for the final 5th wave. Just FYI.Note
Everyone wants cheaper bitcoin right, and because of that they’re ignoring the writing on the wall. Wait and see- the institutions announcing their presence right now are nowhere near as bullish as everyone’s makes it seem. They are here to short our market into the ground again courtesy of Tether so they can accumulate a very strong position in Bitcoin for when it’s time to turn net long. Need I seriously remind everyone what happened shortly after the day futures were first released into this market? Now imagine ATH as Tether and CBOE/CME as Fidelity, Bakkt, etc.
When it gets worse and the market implodes because of it, institutions and those who pay attention will be in strong short positions. Everyone, EVERYONE was talking about Tether for all of a week and then as soon as ‘the bulls’ started pumping the market everyone saw dollar signs and ignored the bad news.
The bulls are pumping it right now for a reason and I’m betting everything I own that this is NOT going to a new all time high without a new low first.
Shattered will be the hopes and dreams of all you moonboys out here ignoring the warning signs right in front of your face and it’s laughable.
This parabola won’t end well.
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$12,300. I believe this may be our final top.Putting this here for later.
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10k/
13K highest we go I think. This falls in life with my original thoughts.Note
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Attempted to post this unreleased idea shown here:
On a new AlanMaster idea shown here:
And this was the result. Notice I also included a picture of the recent comments I have made. In one comment I was discussing this potentially happening with Giorgio, and the other comment I'd discussed this potentially happening on an idea of London55555. So, where is this 'moderation' need coming from exactly?
Did I break the rules any time recently? What did I do to deserve my comments on other peoples ideas to be censored? This along with the fact that my 'The Satoshi Signal Appears.' idea being completely hidden from anyone but my follower base is a strong indicator someone is trying to shut me up.
imgur.com/a/YFUxIZI
I find it incredibly interesting that for some reason I cannot post immediate comments to peoples profiles anymore.When I go on to Alan's idea about Bitcoin people are freely posting comments, so am I the only one with this problem?
Also, notice the front page and how it's mainly bullish?
Yeah..
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To people's ideas*Note
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Be careful out there..6/18 is almost here...
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In this idea...
“I am noticing that after breaking out of a daily bear flag, Bitcoin may be printing an ascending triangle with a target just under 10k. Keep an eye on this.”
This may be Bitcoin’s final rally. Fib retracement from the dump we experienced yesterday just below 9k to what I believe to be the first sub wave of this next/final rally shows these targets:
Notice how $9,969 is one of those targets? Possibly, THE target?
y e e t
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Fair warning, 11.6k is in the cards. I believe that what a chance to be our final high for the 5th subwave of the 5th wave on the daily. I’ll post later why, can’t show it very well on mobile but the easy explanation is that on Bitmex, 11.6k is the 50% FIB of ATH to current bottom. I just recently realized the 5-3-5 I’ve been suspecting from ATH has already completed. 5 down 20k/6k, 3 up 6k/11.7k, 5 down 11.7k/3k. That wave however, could just simply be an A wave, and if this is a B wave as I indeed suspect, then we are looking at a 5-3-5 for B wave as well. That said, we are finalizing by my count a 5th subwave of a 5th wave. If that is indeed correct then that means the A subwave of the B primary is complete or very near complete. Then we have a substantial retrace to re-test bottom, and then and ONLY then will we find out if we are in a bull run or not. The way this looks on the daily and weekly, one way to gather an idea of whether this is a B wave rally or a new ATH forming is to watch for how violent the correction is and what fib retracement it stops on. B waves are violently fast, and if this IS simply a B wave forming then I’d expect a catastrophically fast correction downward for the B subwave. If this current rally is simply the A subwave of the upwards B, then the B subwave of B will be violent and the percentage lost will be upwards of 60-80%.
If my knowledge checks out, then we should not break below 5k at any point hereafter if we are in a bullrun. Any break below that and you can kiss the bull run hopes and dreams goodbye.
Please remember I am an amateur and these are only my thoughts.
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To get an idea of what I mean, see here:
Magic’s A subwave would be 5 waves. The B would be 3 and the C would be 5.
Though, I do see a higher low holding and not quite 3k immediately off the bat. His ABC would technically be the B subwave of the primary B wave. This would create a very slightly higher low, then we rally again for the final 5-3-5 subwave C of the primary B wave.
The more I think of it the more I begin to realize we may have indeed already topped out at 11.2k for this rally. I guess we will see in coming weeks but if indeed we are in a B wave bear market rally then the timeline of it takin place would be right in line with a catastrophic fall to new lows later this year.
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