Bitcoin - An Unimpressive Climax
Updated
The motion of matter follows a law, and so does the price of stocks, commodities, bonds, and cryptocurrency. While you may want to see your bags reach $100,000 someday, if the Lords on Wall Street do not want to take the risk to facilitate your fantasy, then it will never happen.
Crypto is inhered with enormous risks that were established in the same way that one wires a building to self destruct.
You leave it alone and let it stand, making use of it, until it's time to bring it down.
$65,000 was the top, and a return below the 2017 All Time High is a signal of the end, not a new beginning.
Bitcoin is going to have a flaccid bounce, I believe very likely this week, to a number approximately $26,000. Ethereum and Bitcoin Cash will have much, much better % based runs, but will follow an overall similar pattern, for now.
Afterwards, Bitcoin will begin to dump and the previous low of $17,500 will not hold.
Where you're headed for is $14,500 and sub-$12,000. The bounces in this range are likely to be particularly flaccid and it may not last for very long.
Bitcoin's ultimate target is three digits as it will be replaced by Central Bank Digital Currencies and will only remain traded as a relic of the past. Once futures are ultimately delisted from the CME, it will fall towards nothing.
You should not have faith in any digital currency, for they have been occupied by the Chinese Communist Party and now serve as a vein of the CCP's international underground banking network. This network is operated by the Triad. If you understand what I am saying, you will understand why nobody is bullish on digital currencies.
At some point, as the International Rules Based Order gets more and more strict with Xi Jinping, the U.S. government will put the clamps on fiat <--> crypto because the stablecoins are effectively counterfeit money.
Short @~$26,000 with a stop around $28,500 gives you a 4:1 RR
Don't listen to the moonbois on Twitter, Reddit, and Discord. They don't trade. They don't have money in the game. They're nocoiners. They sit in a cubicle being paid $15 an hour to convince you to lose your lifesavings like total losers.
Danger abounds. Danger is imminent.
Crypto is inhered with enormous risks that were established in the same way that one wires a building to self destruct.
You leave it alone and let it stand, making use of it, until it's time to bring it down.
$65,000 was the top, and a return below the 2017 All Time High is a signal of the end, not a new beginning.
Bitcoin is going to have a flaccid bounce, I believe very likely this week, to a number approximately $26,000. Ethereum and Bitcoin Cash will have much, much better % based runs, but will follow an overall similar pattern, for now.
Afterwards, Bitcoin will begin to dump and the previous low of $17,500 will not hold.
Where you're headed for is $14,500 and sub-$12,000. The bounces in this range are likely to be particularly flaccid and it may not last for very long.
Bitcoin's ultimate target is three digits as it will be replaced by Central Bank Digital Currencies and will only remain traded as a relic of the past. Once futures are ultimately delisted from the CME, it will fall towards nothing.
You should not have faith in any digital currency, for they have been occupied by the Chinese Communist Party and now serve as a vein of the CCP's international underground banking network. This network is operated by the Triad. If you understand what I am saying, you will understand why nobody is bullish on digital currencies.
At some point, as the International Rules Based Order gets more and more strict with Xi Jinping, the U.S. government will put the clamps on fiat <--> crypto because the stablecoins are effectively counterfeit money.
Short @~$26,000 with a stop around $28,500 gives you a 4:1 RR
Don't listen to the moonbois on Twitter, Reddit, and Discord. They don't trade. They don't have money in the game. They're nocoiners. They sit in a cubicle being paid $15 an hour to convince you to lose your lifesavings like total losers.
Danger abounds. Danger is imminent.
Note
BTC to $15,000 is imminent. Don't be fooled by short term movement. Buying these dips is catching knives, and it will cut you.Note
Your 4 hour candle "support" level Bitcoin has been toying with also happens to be the critical 2019 all time high:It's critical to be clear that breaking this level in the first place was both an unprecedented shift in market structure and a significant bearish hallmark.
Revisiting it after
25K failed to amount to anything all but guarantees $17,500 and less are en route.Note
Looks dumpy, but that 4H double top left last week in conjunction with recent price action, tomorrow being last day of the month, and US Non-farm payroll volatility...Could see a 10% up 10% down Jackson Hole-style doom event. So, be careful bears.
And bulls.
Note
I have this feeling that BTC, for miraculous reasons, won't take out that double top and will come up short before turning around.
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