Bitcoin - Take Advantage of the Exit Pump, While You Still Can
Updated
The pattern on Bitcoin is really similar to Ethereum, which I outline in a recent call:
Ethereum - A Sucker's Rally Before The Bitter Winter
The difference between Bitcoin and Ethereum is ETH has more than 50% upside available to hit its similarly-placed goalposts, while BTC is just another ~30%.
Fundamentally, the problem for crypto bulls is that the 2021 bull run formed a Bump and Run Reversal (BARR) on CME Futures.
The inner meaning of a BARR is that its the eternal top, and once the lows are taken, the trend is over.
This is especially crucial to understand when a BARR manifests on regulated futures, because these futures are uniquely cash settled and do not require anyone to post spot as collateral to short, there are ETFs linked to CME price, miners are hedging their on-chain wallets with this product, and the day-to-day survival of crypto relies on the SEC/FBI/DOJ delaying the annihilation of iFinex/Bitfinex/Tether.
Once the trend is over, getting a rip to sell into is really a blessing, because what comes after is some gapping and then the landslide doom pattern that delisted coins and garbage penny stocks follow for a long time afterwards.
We're at the prelude to crypto entering the no-bounce territory, because they need to be eliminated for Central Bank Digital Currencies (CBDC).
Governments need to issue their own coins on centralized blockchains in order to install worldwide the Chinese Communist Party's Zero-COVID social credit system, because they just love the CCP's things so much it amounts to a fetish.
And the problem for humanity is that these digital currencies do very little that is positive, while consuming an unbelievable amount of physical technical resources to make the chips and even more resources to produce the power that's needed to win the mining lottery.
SHA256 mining is a total joke because more miners being added to the network don't increase transactional throughput at all, or really even "security." It's just a life-or-death requirement for miners to keep up with the difficulty boosts to win the block reward lottery to keep putting these things online.
And in China, where everything is corrupt because of Xi Jinping's CCP, flooding villages and cities to manipulate the supply of hydro to sell to mining outlets has been a common practice of the regime's officials for years.
Even the Mekong has been impacted gravely by the rogue CCP's gluttony for electricity to fuel the crypto mining operations run and cut by the regime's cronies.
Much of digital currency has been co-opted by the CCP via its United Front Work Department operations, and much is done through the Triad mafia itself.
Just about everything in crypto and everyone who's anyone in crypto operate on Wechat, the CCP's erstwhile implementation of surveillance and social credit.
This is important because the 24-year persecution and organ harvesting genocide against Falun Dafa's 100 million practitioners looms like The Reaper over Xi and the Party.
Disaster and plague can take the regime down literally any day.
At the same time, Xi can save himself by overthrowing the Party in a coup, Gorbachev style, literally any day.
So the risks are huge.
But right now, if you want to play this table at the international casino, then the trade is long, not short, with a target over the May of '22 pivots at $48,000 and an expectation that $50,000 will either not be touched, or will be wicked through to sweep stops that both close shorts and open longs.
You have a clear breakout on Monthly and Weekly bars, with no retrace on lower bars, and this is why short = dead, until price reaches its upside target. Frankly, a brief interlude back to $34,000 would be quite the gift to go long on and mitigate underwater shorts with.
You cannot short $48,000 unless a reversal pattern appears, because the trend is strong for the first time in more than a year.
Digital currencies are something for you to have absolutely no faith in. You need to stay away from everything related to this. A huge amount of killing, human trafficking, and corruption operates via that community and its various blockchains, and the sins are both boundless and eternal.
The sins are so huge that mankind's justice system, even in the future, will not be able to settle the blocks that update the real ledger in this Cosmos.
Ethereum - A Sucker's Rally Before The Bitter Winter
The difference between Bitcoin and Ethereum is ETH has more than 50% upside available to hit its similarly-placed goalposts, while BTC is just another ~30%.
Fundamentally, the problem for crypto bulls is that the 2021 bull run formed a Bump and Run Reversal (BARR) on CME Futures.
The inner meaning of a BARR is that its the eternal top, and once the lows are taken, the trend is over.
This is especially crucial to understand when a BARR manifests on regulated futures, because these futures are uniquely cash settled and do not require anyone to post spot as collateral to short, there are ETFs linked to CME price, miners are hedging their on-chain wallets with this product, and the day-to-day survival of crypto relies on the SEC/FBI/DOJ delaying the annihilation of iFinex/Bitfinex/Tether.
Once the trend is over, getting a rip to sell into is really a blessing, because what comes after is some gapping and then the landslide doom pattern that delisted coins and garbage penny stocks follow for a long time afterwards.
We're at the prelude to crypto entering the no-bounce territory, because they need to be eliminated for Central Bank Digital Currencies (CBDC).
Governments need to issue their own coins on centralized blockchains in order to install worldwide the Chinese Communist Party's Zero-COVID social credit system, because they just love the CCP's things so much it amounts to a fetish.
And the problem for humanity is that these digital currencies do very little that is positive, while consuming an unbelievable amount of physical technical resources to make the chips and even more resources to produce the power that's needed to win the mining lottery.
SHA256 mining is a total joke because more miners being added to the network don't increase transactional throughput at all, or really even "security." It's just a life-or-death requirement for miners to keep up with the difficulty boosts to win the block reward lottery to keep putting these things online.
And in China, where everything is corrupt because of Xi Jinping's CCP, flooding villages and cities to manipulate the supply of hydro to sell to mining outlets has been a common practice of the regime's officials for years.
Even the Mekong has been impacted gravely by the rogue CCP's gluttony for electricity to fuel the crypto mining operations run and cut by the regime's cronies.
Much of digital currency has been co-opted by the CCP via its United Front Work Department operations, and much is done through the Triad mafia itself.
Just about everything in crypto and everyone who's anyone in crypto operate on Wechat, the CCP's erstwhile implementation of surveillance and social credit.
This is important because the 24-year persecution and organ harvesting genocide against Falun Dafa's 100 million practitioners looms like The Reaper over Xi and the Party.
Disaster and plague can take the regime down literally any day.
At the same time, Xi can save himself by overthrowing the Party in a coup, Gorbachev style, literally any day.
So the risks are huge.
But right now, if you want to play this table at the international casino, then the trade is long, not short, with a target over the May of '22 pivots at $48,000 and an expectation that $50,000 will either not be touched, or will be wicked through to sweep stops that both close shorts and open longs.
You have a clear breakout on Monthly and Weekly bars, with no retrace on lower bars, and this is why short = dead, until price reaches its upside target. Frankly, a brief interlude back to $34,000 would be quite the gift to go long on and mitigate underwater shorts with.
You cannot short $48,000 unless a reversal pattern appears, because the trend is strong for the first time in more than a year.
Digital currencies are something for you to have absolutely no faith in. You need to stay away from everything related to this. A huge amount of killing, human trafficking, and corruption operates via that community and its various blockchains, and the sins are both boundless and eternal.
The sins are so huge that mankind's justice system, even in the future, will not be able to settle the blocks that update the real ledger in this Cosmos.
Note
$32,500 would be a really generous dump to find longs on, according to the 4H chart.
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