BitcoinUpdated BTC possible 9k --> double top (7.5k --> 8.5k) --> then crash
Just an idea. It seems that the fomo is really on at the moment. Whatever the reason behind yesterday's jump, it's a real possibility that we may see higher prices.
This is very similar to the pump on Dec 30 last year. At that point, everybody was expecting H&S confirmation, but the whales set a bull trap & price stood above 50D MA.
We can also see similar patterns from 2014, where price went up 50+% in a few days before crashing deeper.
I think now we have the 200D & 50D MA together with the resistance line all at the 9k area. This makes for a good place to take long profit & possibly open short positions.
Abnormal market activities have become commonplace, so really I don't know what I'm talking about. Beware of those who pretend they do.
Nothing is going to the moon. Early adopters became million/billionaires. You're probably late in the game & it's only becoming a tougher market. 100x gains are only possible when you take great risks (meaning 90+% you lose everything).
Also EW doesn't work in this market. Please don't tell me yesterday was a "wave". The market is more manipulated than ever. If you're very confident with your analysis, you should do the exact opposite because the manipulators will make it go the other way. I'm not a good analyst, so you can follow my analysis :)
This is very similar to the pump on Dec 30 last year. At that point, everybody was expecting H&S confirmation, but the whales set a bull trap & price stood above 50D MA.
We can also see similar patterns from 2014, where price went up 50+% in a few days before crashing deeper.
I think now we have the 200D & 50D MA together with the resistance line all at the 9k area. This makes for a good place to take long profit & possibly open short positions.
Abnormal market activities have become commonplace, so really I don't know what I'm talking about. Beware of those who pretend they do.
Nothing is going to the moon. Early adopters became million/billionaires. You're probably late in the game & it's only becoming a tougher market. 100x gains are only possible when you take great risks (meaning 90+% you lose everything).
Also EW doesn't work in this market. Please don't tell me yesterday was a "wave". The market is more manipulated than ever. If you're very confident with your analysis, you should do the exact opposite because the manipulators will make it go the other way. I'm not a good analyst, so you can follow my analysis :)
Note
btw, if it doesn't reach 9k, the lower the reversal the harder the crash (because the weaker the market)yesterday was obviously short squeeze + SL. not many SLs at this point & we'll see the organic power of bulls soon. if we draw an evening star...
Note
can go up or down :DNote
is the price movement influenced by trump's bombing?Note
volume very low. whales may attack anytime.in the past few months, they always attack on Sunday
my gut says it's a pump this time. not buying, though.
Note
bearish divergence in volumedoes this mean the whales are going to pump over the night?
Note
possibly will indeed get pumped to 9k
Related publications
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.
Related publications
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.