Short

Updated

Figured I would make a fresh idea for this

After failing to swing higher than the previous high, with every single bullish news event that could possibly happen, it really makes you wonder if it will even hold 30 bucks when it gets there...

Ill take a shot at the double bottom, but I have severe doubts.

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To be clear you do not actually short here, the time to short was much higher and was done in another idea.

Now you sit and watch. If youre feeling lucky, you short a bounce.

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With bitcoin making a double top, and then back testing a spring down, i expect this will be the final failure before accelerating losses.

The greater fools who thought new all time highs this year will get washed out.

Of course, this will bring down all the other smaller ponzi schemes like eth, litecoin, shiba, doge, etc.

and when they all go down, guess where coin goes?

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Absolute trash, not even going to look at it for a few months.

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I cant help myself. watching this trainwreck is amusing.

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This is not a formal harmonic, because the intense manipulation of shorts, squeezes, scams in both directions.

HOWEVER.

The end point remains the same, around 21 dollars.

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Fucking scam.

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This is going to be a god damn dumpster fire tomorrow. and every day after will take a huge hit, like the rejection of bitcoin etf, new legal actions, tether and binance being taken out, each one will crush this crap.

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Anyone hoping for this support to hold, this daily candle does not bode well for your idea.

The RSI has not yet reached oversold. It has much more room to run, and can remain there for some time.

I do expect a bounce at some point, but not nearly there yet.

Straight down.

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Todays pump is nothing to be excited about, it is a reaction to bitcoins retest of the falling wedge it fell out of, and the 200 daily and weekly SMA's.

dont get fooled, its down only from here on out.

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Larger picture.

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Trash is working its way down to fair market value still. not even close to targets yet so just observing the top buyers get rekt.

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History rhymes.

MikeMM

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MikeMM