BitcoinLong
BTC to go back up before going down
Updated
How the live-in-a-bubble-thinks-the-world-revolves-around-their-investment herd psychology works in this market imo.
Need to buy BTC to trade it on Bitmex anyway. Now is as good a time as any.
Down 24% which is what we got in early December 2017 before going back up and top, and Feb 2018 (21%) before making a double top.
2016 and early 2017 were different, market was in disbelief back then, we are so NOT in disbelief right now. These people are CERTAIN BTC is going way up.
Completely brainwashed. So I am pretty sure it will go back up. Will take alot to convince them. Now we are just seing buyers exhaust, and whales cashing out
(we have seen big transactions for example 8884 BTC sent to Coinbase 1 day ago).
We can make a lower high so might want to start scaling out before getting all the way to 14k.
I expect we go up in an ABC this will make it easy to pinpoint the top, until now BTC has always respected certain rules with this...
Need to buy BTC to trade it on Bitmex anyway. Now is as good a time as any.
Down 24% which is what we got in early December 2017 before going back up and top, and Feb 2018 (21%) before making a double top.
2016 and early 2017 were different, market was in disbelief back then, we are so NOT in disbelief right now. These people are CERTAIN BTC is going way up.
Completely brainwashed. So I am pretty sure it will go back up. Will take alot to convince them. Now we are just seing buyers exhaust, and whales cashing out
(we have seen big transactions for example 8884 BTC sent to Coinbase 1 day ago).
We can make a lower high so might want to start scaling out before getting all the way to 14k.
I expect we go up in an ABC this will make it easy to pinpoint the top, until now BTC has always respected certain rules with this...
Note
Bitcoin is above 12000 again.If you post your idea at the exact bottom rather than before and say "I wait to get filled" idiots cannot tell you you got rekt.
Smart.
HOW the price goes up will allow me to speculate on what the top will be.
I expect it to be in the 13000 to 18000 area, but cannot guess a price in a range of only $2000 or less with high certainty yet.
I want to see an ABC with B retrace not much (0.382 ideally).
Then I will know.
Should take a week or so, maybe two, if people are really super hyped.
The start of the bear market will be such a breath of fresh air, and bring back some sanity.
I look forward to going back to laughing at people in denial.
I cannot wait until 30k or 100k this has to be it XD.
Now they cannot act like they did not fall for it head first, or were nice to bears.
I wonder how many stuck longs will pretend they sold at the top when they were clearly bullish and "this is so obviously the start of a new massive bull market".
Sorry hypocrites, I have proof now.
Note
Short if we go up like thisNote
Still expecting the price to get back to 14k.I still want the same pattern to go short.
Of course, there could be such heavy exit scamming in progress that what happened was the pattern but super bearish.
If the long bias is to remain we should not go back to sub-10K.
The falling wedge is a little forced but it can help.
Ultimate top of this bubble is likely to be 14k-15k...
Note
I do not like this...We rejected that trendline as resistance and we pulled back too much.
I would like to get filled short...
I showed too many people how obvious this was and now they are all fomoing early since they are desperate for trades and the strategy does not work anymore?
It's not even impossible.
Trade closed manually
I am done, I think. Have/had some order on Bitmex got filed probably or very close to. Not even going to bother checking :D
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