Bitcoin: The Start Of A Correction
Current Situation:
Today we didn't do anything special. Bitcoin is currently jumping up and down as it pleases.
Prediction of others:
On Tradingview, people still have no plan. Most are either very bullish or very bearish.
My last prediction:
My last idea was bullish. There I suspected that we might be doing a running flat. It looks like that, but you can forget the idea. Even though this idea was partly true, I have to admit that I was very insecure with Bitcoin at the time. Meanwhile, it has changed.
Last idea:
My current prediction:
Let's get to my prediction. In my last update, I've told you that I'm bullish for this month, which has not changed. However, I do not expect much movement from Bitcoin. I could well imagine that we are at $8,200 at the end of the month, but not more. Most of the time we should only go sideways. But that does not matter for the moment. As you can see on the chart, I expect a correction overnight without much movement. Currently we can not say exactly how this correction will look like. If this correction is as shown above, then I expect a move up from $7,000 to $7,700 before going on to the boring phase.
Final word:
This time I do not have much to say here. I told you yesterday that I'm going to post a Verge Chart, but I've decided to retire for now. I can promise you that there are so many ways to make a lot of money before the final crash. After this month I expect strong moves, should we only make a correction which is most likely to me.
By the way: While I was writing all this, Bitcoin has gone up, making my upward arrow unnecessary.
Current Situation:
Today we didn't do anything special. Bitcoin is currently jumping up and down as it pleases.
Prediction of others:
On Tradingview, people still have no plan. Most are either very bullish or very bearish.
My last prediction:
My last idea was bullish. There I suspected that we might be doing a running flat. It looks like that, but you can forget the idea. Even though this idea was partly true, I have to admit that I was very insecure with Bitcoin at the time. Meanwhile, it has changed.
Last idea:
My current prediction:
Let's get to my prediction. In my last update, I've told you that I'm bullish for this month, which has not changed. However, I do not expect much movement from Bitcoin. I could well imagine that we are at $8,200 at the end of the month, but not more. Most of the time we should only go sideways. But that does not matter for the moment. As you can see on the chart, I expect a correction overnight without much movement. Currently we can not say exactly how this correction will look like. If this correction is as shown above, then I expect a move up from $7,000 to $7,700 before going on to the boring phase.
Final word:
This time I do not have much to say here. I told you yesterday that I'm going to post a Verge Chart, but I've decided to retire for now. I can promise you that there are so many ways to make a lot of money before the final crash. After this month I expect strong moves, should we only make a correction which is most likely to me.
By the way: While I was writing all this, Bitcoin has gone up, making my upward arrow unnecessary.
Note
Short update:Should turn at any time. Fittingly, the longs went up. 1000 BTC Longs opened @7700. That's why I usually do the opposite. The crowd buys at the top and sells under panic in the bottom.
Longs:
Shorts:
Note
Short update:Wow.. at the moment, everyone really is expecting either doom or moon. Then there are those who think we are in a triangle. These will be beautiful days when many will fall for the trap. And these people are honestly not sorry for me. When you make money while trading, others have to suffer. That's the way it is. As a trader, you have to be able to act emotionless, whether the trade is for or against you.
By the way: The first longs closed already after a $50 move. They will be annoyed not to have held their positions once we are at $8,000 in a few days. But first we should drop by about $400-300. Maybe now or later after another upmove to around $7,800.
Note
Short update:The correction could also look like this with a running flag in the middle. In this scenario, the people who closed their longs would be very annoying and the people who had their shorts open would lose money.
Scenario (running flag):
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.