Bitcoin - Crash is ready! Bear Flag is confirmed (must see)
Updated
- The huge bear flag on the daily/weekly charts is breaking down! It's a great opportunity for the bears to short Bitcoin to 15k!
- Bitcoin remains the weakest asset in the world, compared to gold or the stock market indexes SPX500 and Nasdaq. Gold almost hit an all-time high, while Bitcoin is at 26k. Bitcoin is supposed to be around 50k at this moment, but it's not. That's a pretty strong sign that the big players want to buy cheap Bitcoin and are not interested in pushing the price higher.
- I have to be bearish at this point. Yesterday we saw a big dump followed by a pump, which is, of course, just a retest and filling the previous GAP. We have to also use altcoins for our analysis, and they just broke the key market structure and are ready to go lower.
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- Now we can see that Bitcoin was heavily rejected by the strong resistance at 31k. We see multiple touchpoints in 2021 and 2023. It's a gateway to the bull market, so if the bulls can break this level, then I become very bullish, and it will start the true bull market!
- I expect 15k or 10k because these levels are very significant from the Fibonacci perspective. We also need to complete the major ABC correction and print another impulse wave to the downside.
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
- We are going to find the bottom between October 2023 and January 2024. That's my current outlook, and when the FED pivots, it triggers the massive crash.
- Also, there will be a lot of problems with exchanges, so make sure you are safe on a trusted exchange. Or you can have only 10% - 20% of your money on exchanges and use leverage to borrow money for free on the futures market and transfer the risk to the exchange while remaining with full purchase power. Otherwise, you can use some kind of hardware wallet, such as Trezor or a hot wallet, to store your coins safely. Once the bull market starts, you can transfer the coins back to the exchange. You probably do not want to hold any coins right now anyway, because 95% of them are going to crash hard! I have a few tips for coins that can pump even during the bear market, such as Litecoin (halving event in less than 2 months).
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Note
Bad news about Binance and CoinBase; it's not looking good at all. I do not trade on these exchanges at all.Note
The halving event will be at 10 months, so we need to be patient. It should be in April 2024, which will be a strong fundamental bullish signal.Note
The big crash is happening, and altcoins are already absolutely losing value. But it's only the start...Note
New analysis - Bitcoin was created by the banks! (Proof) + Important falling wedge and price targets.
Note
The uptrend from 15k to 31k is over; the trendline has been destroyed by the bears, and we are starting that bear market to go back to 10k–15k!Note
The majority is extremely bullish again; I see it in the comment section. These people counter-trade me, and always get rekt. In the past 6 months, I have usually been right on my analyses on BTC.
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