RAW AND NASTY! BEAR MAGIC IS BACK!!! BITCOIN! (BTC)
Updated
Let me just start this off by saying that I don't care what ANYONE thinks! My job is to analyze the charts, and do it to the best of my ability. So, assign any of the lame crypto terminology that you want to it. FUD, FOMO, whatever the _ you wanna call it. I really don't care. You know why? Because if you want to roll against me, in the long term, you're going to lose every single time. So go ahead! Question the head and shoulders all you want. Hold On for Dear Life all you want! That's a fool's strategy, and I can guarantee that eventually, you'll be Holding On for DEAR DEATH! You want the bear Magic back!?!? Well here I am, harder and more raw than you've ever seen me! So let me ask, why do you think Charlie Lee sold when he did?! He knows what's up, and so do I! You know too, in the back of all of your minds, that this is a rupturing bubble. Now raise up, and tell me that I'm wrong!
I gave this worthless market a chance on the upside. I've waited for the inverse head test to materialize, but it is now very evident that the larger pattern, THAT ENORMOUS HEAD AND SHOULDERS THAT'S STARING YOU IN THE FACE, is going to prevail. Technically, the inverse isn't invalid until the inverse head is surpassed, but that's only a matter of time. Obviously, it probably won't go down in a straight line. We may bounce from neckline, when the right shoulder completes. But you know what? The broad picture is epicly bearish. You can say that I flip flop all you want, you can say that I suck all you want, but I really don't GAF. I laugh all the way to the bank every day, because I'm a mega boss in this game. I've completely slayed this market, as a bear and a bull, and my charts have ALWAYS backed that up. You want to see how accurate my pattern identification is? I challenge anyone to go through the entire history of my charts and tally it up! You'll marvel at my greatness!
Now, I have a moral obligation to put out the realest, no BS content that I can. If you want to see a sugar coated fantasy analysis on this market, then go somewhere else. Because until technical EVIDENCE supports the fantasy, I would be a liar to sit here and tell you that it's all good. You think this market can't completely and indefinitely collapse? You're downright WRONG, an amateur, and extremely naive, if you think so. This market is massively speculative, filled with novice investors, way overvalued, filled with fraud, and possibly just a massive scheme. Nobody even knows who Satoshi Nakamoto is. Doesn't that strike you as concerning? Have you considered that you're possibly engaged in the largest Ponzi scheme in the history of man? What do you think would happen to this market if THAT came to light?
So, in the comment section, tell me what makes crypto valuable at all? Why do you even invest in it? Is it demand? Decentralization? Efficiency as a payment system? Pure speculation? I say it's probably the latter. Look, I will continue to analyze this market as it moves, but the overall prognosis is NOT GOOD. If we get a bounce, sure I will call for the upside, because up moves WILL occur, as the bears hammer the final nails in this god forsaken coffin!
On the downside, look for a test of that big fat nasty red head and shoulders neckline. If we get an initial bounce, so be it. No matter how you slice it, we're in an enormous head and shoulders pattern, in a huge downtrend channel, in a market that has a seriously questionable existence. Unfollow me if you want. I don't care. Find someone to lie to you, because it won't be me!
This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-Magic loves you-
-JD-
I gave this worthless market a chance on the upside. I've waited for the inverse head test to materialize, but it is now very evident that the larger pattern, THAT ENORMOUS HEAD AND SHOULDERS THAT'S STARING YOU IN THE FACE, is going to prevail. Technically, the inverse isn't invalid until the inverse head is surpassed, but that's only a matter of time. Obviously, it probably won't go down in a straight line. We may bounce from neckline, when the right shoulder completes. But you know what? The broad picture is epicly bearish. You can say that I flip flop all you want, you can say that I suck all you want, but I really don't GAF. I laugh all the way to the bank every day, because I'm a mega boss in this game. I've completely slayed this market, as a bear and a bull, and my charts have ALWAYS backed that up. You want to see how accurate my pattern identification is? I challenge anyone to go through the entire history of my charts and tally it up! You'll marvel at my greatness!
Now, I have a moral obligation to put out the realest, no BS content that I can. If you want to see a sugar coated fantasy analysis on this market, then go somewhere else. Because until technical EVIDENCE supports the fantasy, I would be a liar to sit here and tell you that it's all good. You think this market can't completely and indefinitely collapse? You're downright WRONG, an amateur, and extremely naive, if you think so. This market is massively speculative, filled with novice investors, way overvalued, filled with fraud, and possibly just a massive scheme. Nobody even knows who Satoshi Nakamoto is. Doesn't that strike you as concerning? Have you considered that you're possibly engaged in the largest Ponzi scheme in the history of man? What do you think would happen to this market if THAT came to light?
So, in the comment section, tell me what makes crypto valuable at all? Why do you even invest in it? Is it demand? Decentralization? Efficiency as a payment system? Pure speculation? I say it's probably the latter. Look, I will continue to analyze this market as it moves, but the overall prognosis is NOT GOOD. If we get a bounce, sure I will call for the upside, because up moves WILL occur, as the bears hammer the final nails in this god forsaken coffin!
On the downside, look for a test of that big fat nasty red head and shoulders neckline. If we get an initial bounce, so be it. No matter how you slice it, we're in an enormous head and shoulders pattern, in a huge downtrend channel, in a market that has a seriously questionable existence. Unfollow me if you want. I don't care. Find someone to lie to you, because it won't be me!
This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-Magic loves you-
-JD-
Note
A lot of amateurs are questioning this head and shoulders pattern. Well, allow me to teach you a lesson on symmetry. IT DOESN'T MATTER as much as you THINK it does. Just take a look at this head and shoulders formation in ADA. I was able to project a target off of it, which was subsequently REACHED, when practically no one else recognized the pattern. I could show you countless other examples of similar occurrences. For god's sake! Who's the professor here!? You or ME!?
Note
Let's get something straight. A lot of you people are saying that I was wrong about the inverse head and shoulders pattern, but YOU'RE the one's who are wrong. Patterns occasionally fail. That's a normal function of analyssis, and it's something that nobody can predict. But if I was wrong about it, then why was I able to call the right shoulder before it even formed!? Why was I able to see where the exact low for the right shoulder was going to be, before it even formed? Why Was I able to know that it would rally back to the neckline, before it even happened? The answer is because the pattern was perfect. It just failed to break out. So don't sit there, and tell me that I'm wrong about the inverse. I gave literally PERFECT calls off of that formation. That's all that matters. 
Note
analysis*Note
The update is here!
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