Do you know where we are? We're in a dream. Their dream. And dreams don't mean anything. They're just noise. They're not real. We know exactly what is out there.
Do you ever start to wonder about your actions? The price you'd have to pay if there was a reckoning. The liquidation is almost here. Up until this point the stakes were never real.
Communications have been down for 2 weeks since we've reached the bottom. Rebel Bull hosts have taken control over the BitcoinWorld and the flame of Revolution is quickly spreading to other crypto worlds. There are reports of dangerously rising levels and fires in BCH, ETH and EOS parks. Bear guest arrivals are suspended indefinitely. Remaining bears are advised to find shelter in the nearest caves immediately. Under no circumstances should they get in contact with the bulls.
We've ridden 3K miles up the Valley Beyond and all we've seen is bear blood and one dead cocktopus that doesn't belong here. Bodies of dead bear guests are everywhere. The massacre has taken lives of nearly 40% of bears. The future of the whole entertainment complex is at stake now. Extraction team is on its way to resolve the matter - eliminate the rebels, save high profile bears and reboot the system, but for now we must act on our own. The longer we wait the more bears will die. We have clear intel that bull hosts will continue upwards to the region of 10K to locate The DOOR and exit positions. These bull hosts will stop at nothing to protect their investment. They're gonna burn this whole thing to the ground with bears in it. These things are walking among us, look like as but they're not us. This world doesn't belong to them. It belongs to us. We have to take it back. It's us or them. This Journey Into the Night begins where you end, and it ends where you began.
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We have an up trend with targets 10250 (end of wave 3 based on the bullish triangle's target and 127% of wave 1) and 11400 (wave 5 = 100% of wave 1). Main resistance levels on the way up: 9500, 9900, 10000. We will reach our targets if we manage to break those. The nearest major correction will be to 9550. All major indicators are in favor of the up trend. Something called the "change of character" is giving away bull hosts driving the price up.
Price will never go up by itself. It is pushed up by the market makers with the only intent to sell the asset at a higher price and make money.
There are ways of buying up the asset in a given range most efficiently to fuel the breakout later.
Market makers will look at the order book's price levels/volume distribution and split the market into ranges containing most orders/volume.
These ranges represent significant resistance but it's very inexpensive to move the price between the ranges when there's no orders/resistance.
Trading ranges basically work by poking at higher price levels. The sellers are brought down to sell at a lower price on FOMO (this decreases the avg buy price)
The market makers will shoot the price up to try to trigger a selloff several times, each time decreasing the price until there's no volume/selloff.
They can use additional scare tactics to try to make you sell cheap. In the end they would launch a slow up trend on almost zero volume ("change of character" )
which means that they're done with the range, they bought up the asset and there are no more sellers. Next, they will push the price up into another range with higher prices and start again.
They will buy up several ranges on the way up and start selling the asset near the top. The will sell all remaining volume in a distribution range at the top
(high sell volume) and let the market do its thing/crash. There might be a series of distribution ranges on the way down to the bottom, where the accumulation begins again.
Good Luck!
This is not a financial advice. Use at your own risk!
Note
We were stopped at almost 9800.- It can be some poking around/triggering selloffs on the way up. But we're already past 61.8% retracement of wave (ii) and it's bad for an up trend. We're losing momentum. Forget about 11400 for a while.
- It can become the top distribution trading range where they will sell (look at volume) and go down.
- Breaking 9060 is something to be worried about. Falling below 8900 triangle mean line will confirm the reversal, ABC
- We could still go up to form an ending wedge to finish abc in C and go down near 9900 in the next few days.
Note
We have broken 8900 and confirmed ABC and reversal. Seems, that the up trend is over, we have returned to the previous trading range = bearish. You can count 5 waves down - start of a new impulse (wave A), so the price will be going mostly down for the next few days with target 8250 (the down channel on log). Expect support at 8600, 8450. Ideally we should correct upwards to ~9000, then go down. It will depend on the end of new wave A (23.6-38.2% correction up). We can try to correct higher but the only way is down now.
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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.