Short

bitcoin sunset, end of hypecycle

By fineregex

Updated

Watch the sunset.

dont get infected with delayed/late pump troll mania

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pink S and pink wedge may show the risk of an all time high attempt that may fail or "exit pump"
.green wedge may come in line with the sun.
i guess green wedge breaking can confirm the short term direction.

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the particial rise according to the red trendline may be a sign of weakness

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bitcoin consolidation vs reversal/crash/end of hype

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a moment of truth

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the thumbs up always come late. well maybe not too late. Love you guys

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turns out the first sun didnt lie yet. Just some deceptive hours preceding the crash.

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since 25 people showed affection for this sunset i promise i will try to drawn it "even prettier next time. Also promised myself to not buy bitcoin anymore for some weeks or month. Patience may be rewarded the most.

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of course if you are short and on short term it may matter to watch the purple trend levels and 4000 level before you may just leave, trail your stop, be calm. Yet just not necessarily worth missing the baseline movement to buy/sell on every new low when they come in and the next high will not be too far

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bitcoin when the night has come and the land is dark

of course im somewhat less convinced than yesterday.
but just by about 6.5% that you may won already (if not more).
The chinese central bank news series may very well have more relevance. Especially on short term. Chinese markets were more expensive most of the last 1-2 years. Just to be cheapest again with news. It may pause a moment now and not crash immediately . Check combined market depth chart before you trade:
data.bitcoinity.org/markets/books/all

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the similarity in shape and volume compared to yesterday is almost spooky though, is it?

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when the night has come and the land is dark and the moonlight is the only light we see

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Rotten Banana gave it away first

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now whats special about 4300?

i guess it is good that bitstamp is almost leading the price. Yet JPY premium almost gone and chinese prices lower also keeps removing some more of the unatrual confidence that has built up through the chinese premimum since a long while.

"as long as other people didnt earn a lot through arbitrage (buying here and selling china).my price at the market from USA/europe/any where, is also likely to grow" ( this common thought may either be correct (until the situation changes like now!) (or some markets would have been fake all the time)

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ok, admitedly the last update wasnt quiet ready (visually ;)
here is a prettier one

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for the moment mainly only wicks made it below the 0.236 resistance, denying to break it

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this may only be about minutes though. Previously barely reaching the 0.61 level leaves the downtrend well intact.

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( tradingview.com/x/cpalQQLt/)

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or another little adam and even double bottom W, is it?

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sorry for the preview didnt work out well, you can click this update though

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be sure to check this update:

BITCOIN Bubble trend broken. confirmed twice (read description)

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tradingview.com/chart/hPmQC4DS/

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right link:

BITCOIN BEAR BULL wedge breakdown for granted? Downwards wicks?

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and another bitcoin sunset

fineregex

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