Bitcoin
Short

How Bitcoin May Finish Up August

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Imo; shorts and expectations to dump are a bit much at the moment in general sentiment. Which means we will likely go sideways or even up to test the $6,400 or slightly more. Once there is a bit more of "I told you $5900 was the bottom and we are going bull!" starts happening more is when the gigantic capitulation dump will begin. Sentiment and market determine price action. Price action determines what big money algo bots do. This is why you see dumps start out of no where and/or right at the top of a bull trap, it's this price action & volume that occurs at the top of the bull trap that determines when bots sell off.

I'm sitting on the sidelines and watching over the next days.. depending on if and how the dumps happen will determine at which price I think may be the bottom.

Also; I am looking for a HUGE volume spike (whether green or red doesn't matter) that matches the height of the big sell off long time ago. Once I see this; I will know we have found bottom since most of the accumulation by big money will likely be in for the most part.

Again; I am in accumulation mode with the big money guys. I am not in a trade mode. Once the bottom is set; it will be months and months of low volatility and mixed signals before the big green volume dildo appears out of no where. Which as noted from other times I mentioned: It's not if you can catch the bottom price. It's how long can you hold the coin once you've bought in. Too many people are focused on the first & completely forget about the second part.

Also note: I think everybody agrees this is a full "bubble" cycle, right? But so many people completely ignore the final cycles like despair, a complete loss of hope. How can we do a full bubble cycle and just skip the final stages? We don't come all this far in the bear for no reason. Despair doesn't occur until the final capitulation and low volatility times. This is when "Bitcoin is dead". And at that point is exactly what Warren Buffet means "buy when there's blood in the streets"..

Happy trading!

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