Bitcoin / TetherUSShort
The Last Bear on Earth will Roar the Loudest
Updated
Can you feel the anticipation? We are almost there now. This is so exciting!
That May 19th candle looked like a strong capitulation wick. So why are we still dipping?
Well, because we haven't reached the bottom yet!
Now, the million dollar question: What IS the bottom?
When one capitulation wick won't cut it:
drop a second, larger one right after and shake out everyone except the most hardcore believers.
I think that the strong buying volume candle on Dec 17th holds the key.
Somewhere in the vicinity of 24k!
Okay, so it's actually only a $24,000 question.
Another reason why I think this will be the (temporary) bottom: Bitcoin likes to piss as many traders off as possible. Once we get that low, everyone will be expecting us to dip back into the previous ath levels to buy back in. So, what would the smart money, the big money do? They would turn the low 20's into a bottom, therefore making everyone else buy back in higher!
On a side note, what do you think happens to all these sleepy coins once btc loses almost 65% of its value from ath - the majority of which has been in the last week - and finally stabilizes or even makes a strong relief bounce? ;)
Thoughts? Questions? Comments? Love them all!
That May 19th candle looked like a strong capitulation wick. So why are we still dipping?
Well, because we haven't reached the bottom yet!
Now, the million dollar question: What IS the bottom?
When one capitulation wick won't cut it:
drop a second, larger one right after and shake out everyone except the most hardcore believers.
I think that the strong buying volume candle on Dec 17th holds the key.
Somewhere in the vicinity of 24k!
Okay, so it's actually only a $24,000 question.
Another reason why I think this will be the (temporary) bottom: Bitcoin likes to piss as many traders off as possible. Once we get that low, everyone will be expecting us to dip back into the previous ath levels to buy back in. So, what would the smart money, the big money do? They would turn the low 20's into a bottom, therefore making everyone else buy back in higher!
On a side note, what do you think happens to all these sleepy coins once btc loses almost 65% of its value from ath - the majority of which has been in the last week - and finally stabilizes or even makes a strong relief bounce? ;)
Thoughts? Questions? Comments? Love them all!
Note
I said 24k in my post, but I really meant 23k!That is, $23,000. Just to clarify :)
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.