Where is #bitcoin going after going?
Firstly, below is my view and my view only. I take no responsibility & I am not a fortune teller.
Price:
Price can either go up or down or stay sideways. It can not go backwards or into another dimension.
The Chart & Indicators:
This is a 4 Hour Chart with many indicators thrown in (Parabolic Sar, Fib Retracement from top to bottom, MACD, RSI, Leldc Exhaustion, TD Sequential). Have I missed any? White candles indicate rising prices, and light reddish candles show falling prices.
Many seem to be willing to donate money, looking at that. It reminds me of many people from my part of the world. These people do things according to the way sun, moon and the astrological signs behave. They can read your hand. Would you trust that? If you do not, why do you believe these indicators?
History:
If you go back towards the low, we find the low happened on 28 Jan 2019 when everything on this chart was screaming sell.
* The Parabolic Sar was bearish
* MACD was bearish
* RSI was not oversold but was in that region.
* Past few bars were getting down and down
* Mood was off in the market.
However, Leldc Exhausion bar signalled green on 27th Jan 2019. The signal would have been cancelled anyway considering not much upward movement happened. The prior signalled bullish, according to TD Sequential. However, the bar itself was not. One could have waited for the high to be crossed and buy it. And, holding from that day till today would have been the sweetest thing you could have done.
What is the purpose of looking at history? It shows me technical indicators (MACD, RSI, looking at previous bars, etc.) are all just a load of BS/CRAP! It never tells me what will happen next. If I were looking at those, I would have shorted. Just like many in the market did, and we had the biggest short squeeze in recent times. It shows me now why many have shorted. It was a combination of these indicators and some other factors.
Present Day:
<I am ignoring that one seller whom everyone at this moment hates>
From the chart, we see the TD Sequential has shown bullish on 17th May 2019. The highest price of that 4-hour bar is 7274 USD. I would say the two values to look out for would be
Resistance around 8347
Support at around 6980-7274.
Decision:
That leaves me with room for price in between 7274 - 8347. Currently, the price is at 7927. It is at the higher end of that price room. I do find the Parabolic Sar quite close to topping to the top (aka going bearish soon kinda). It is still in +ve direction. This SAR scares me to go long. Realizing this is 4-hour long, I can wait for another 4 hours before making a decision. I can only go either long or short or do nothing (aka stay in the dollar).
Possible choices: (Pick one)
1) Put a buy order when the price goes above 8347 with good leverage and stop loss at 7245.
2) Put a sell (short) order when the price goes below 7247 with stop loss at 8350.
3) Do nothing and scan other "gurus" to see what they are saying.
I did #3. Here are the below ideas I found with explanation (if any). These are not any indication of me favouring or dis-favouring any ideas.
Idea#1: (Long) [target: 24K] [buy Zone: 7300-7800]
His suggestion is to buy the dip and wait for 24K. He says anything under 7k is a buying area now. He expects a quick pullback and rise from the current price to 7300-7800 and then towards 24K. Good lucks.
Idea#2: (Short) [ultimate target: 14K]
He has some good points. He has shown that there has been a breakout. However, it is a struggling breakout. And, NVT is giving a sell signal. Now, what is NVT? He is using 1D Chart. According to him, if the price goes inside the channel, then we will possibly yo-yo again inside the channel. However, if the price goes above substantially, then the price would be 14,000. He is on the short side more than long side right now.
Idea#3: (Short) [Target: 6000]
He compared July 2018 with today's price action. He believes that the ETF application will not be approved. His chart is simple. There is a saying. KISS - Keep it Simple, Stupid. After seeing his chart and his comments, I am bearish all of a sudden.
Idea #4: (Long)
He is using a 3D Chart. I wonder if he really uses 3D chart for his own live trade. That would be balls of steel. He thinks either correction will complete and rise up. Or if there is a breakdown, then it may be one more drop towards 3K and then rise up.
Idea#5: [Cautious: Looking for 8489 break on Daily]
He says if price moves above $8,489 on a daily (or at least 4H), then a bullish confirmation is noted. He also talks about bullish "Morning Star".. I had to Google for Morning Star and Evening Star. And, then I want back to 28 Jan 2019 on a daily chart. Hello! I find a Morning Star right now. Are we upto something now? He was saying a clear break on a daily chart above 8000 will be a good thing. But, price broke below and tested the 7500ish region. And, he noted that saying bullish movement becomes a bit less expected if 7500 is crossed below.
Idea #6: ( Cautious with bearish outlook near term) [Ultimate Target: 10,000]
He is hoping for a rebound zone at 6,400 - 6,800
Idea #7: (Consolidate )
Consolidate between next 30 days within 8500 and 5650 for the next 30 days is his view.
Idea #8: (Confused)
Double Top
Support:7727 & 7250
Resistance: 8145 & 8315
Idea #9: (Bullish) [target is 14K from 6500 buy region]
He is uniquely talking about Cup & Handle pattern forming. 6500 Level is the level he thinks is a good place to buy with target being 14000.
Idea 10: (Cautiously bullish)
Trading at 8,000 USD is toxic.
He believes that we MIGHT see a Parabolic Bull Run like in 2017
Idea 11:
He is saying that 8000 is a level where he hopes for a pullback so that market is not super hot but moves up later at a better rate.
Well reading these 11 ideas. I find many are thinking price will rise towards large price numbers. But, almost all think in the near term we will see a price drop towards 7300, 6000, 3K region, 6500, etc.
Now we have three choices. We can go with these ideas. And, go short towards 6500. Or we can go against. And go long. Or we can put a buy order at 6500 and if the price never reaches there, then it will never be fulfilled.
Now you tell me what to do? Remember, Price can either go up or down or stay sideways. It can not go backwards or into another dimension
Would you be brave to go long here? I would not!
Would you be brave to go short... well..... In that case, the target would be 7280. and stop loss would be 8340 or 8107. Since everyone is bullish & greedy, let's get scared & short this #bitcoin. Most are greedy right now even on a roadblock on 8000. If others saying come out true, then we would be looking for 5730 as next target. It definitely needs to be noted that those numbers were taken out of my arse. I have no idea what-so-ever. I want to go long. But...
I hope you liked reading this long rant.
Please like me now!
Please follow me now!
Please comment below now with your thoughts as to why I am wrong. I need you to support me. If you make money reading this, please send me any amount of bitcoin to 3BMEXMMyewMmijzoKqbKNyWkCzXov6Vnsx
Price:
Price can either go up or down or stay sideways. It can not go backwards or into another dimension.
The Chart & Indicators:
This is a 4 Hour Chart with many indicators thrown in (Parabolic Sar, Fib Retracement from top to bottom, MACD, RSI, Leldc Exhaustion, TD Sequential). Have I missed any? White candles indicate rising prices, and light reddish candles show falling prices.
Many seem to be willing to donate money, looking at that. It reminds me of many people from my part of the world. These people do things according to the way sun, moon and the astrological signs behave. They can read your hand. Would you trust that? If you do not, why do you believe these indicators?
History:
If you go back towards the low, we find the low happened on 28 Jan 2019 when everything on this chart was screaming sell.
* The Parabolic Sar was bearish
* MACD was bearish
* RSI was not oversold but was in that region.
* Past few bars were getting down and down
* Mood was off in the market.
However, Leldc Exhausion bar signalled green on 27th Jan 2019. The signal would have been cancelled anyway considering not much upward movement happened. The prior signalled bullish, according to TD Sequential. However, the bar itself was not. One could have waited for the high to be crossed and buy it. And, holding from that day till today would have been the sweetest thing you could have done.
What is the purpose of looking at history? It shows me technical indicators (MACD, RSI, looking at previous bars, etc.) are all just a load of BS/CRAP! It never tells me what will happen next. If I were looking at those, I would have shorted. Just like many in the market did, and we had the biggest short squeeze in recent times. It shows me now why many have shorted. It was a combination of these indicators and some other factors.
Present Day:
<I am ignoring that one seller whom everyone at this moment hates>
From the chart, we see the TD Sequential has shown bullish on 17th May 2019. The highest price of that 4-hour bar is 7274 USD. I would say the two values to look out for would be
Resistance around 8347
Support at around 6980-7274.
Decision:
That leaves me with room for price in between 7274 - 8347. Currently, the price is at 7927. It is at the higher end of that price room. I do find the Parabolic Sar quite close to topping to the top (aka going bearish soon kinda). It is still in +ve direction. This SAR scares me to go long. Realizing this is 4-hour long, I can wait for another 4 hours before making a decision. I can only go either long or short or do nothing (aka stay in the dollar).
Possible choices: (Pick one)
1) Put a buy order when the price goes above 8347 with good leverage and stop loss at 7245.
2) Put a sell (short) order when the price goes below 7247 with stop loss at 8350.
3) Do nothing and scan other "gurus" to see what they are saying.
I did #3. Here are the below ideas I found with explanation (if any). These are not any indication of me favouring or dis-favouring any ideas.
Idea#1: (Long) [target: 24K] [buy Zone: 7300-7800]
His suggestion is to buy the dip and wait for 24K. He says anything under 7k is a buying area now. He expects a quick pullback and rise from the current price to 7300-7800 and then towards 24K. Good lucks.
Idea#2: (Short) [ultimate target: 14K]
He has some good points. He has shown that there has been a breakout. However, it is a struggling breakout. And, NVT is giving a sell signal. Now, what is NVT? He is using 1D Chart. According to him, if the price goes inside the channel, then we will possibly yo-yo again inside the channel. However, if the price goes above substantially, then the price would be 14,000. He is on the short side more than long side right now.
Idea#3: (Short) [Target: 6000]
He compared July 2018 with today's price action. He believes that the ETF application will not be approved. His chart is simple. There is a saying. KISS - Keep it Simple, Stupid. After seeing his chart and his comments, I am bearish all of a sudden.
Idea #4: (Long)
He is using a 3D Chart. I wonder if he really uses 3D chart for his own live trade. That would be balls of steel. He thinks either correction will complete and rise up. Or if there is a breakdown, then it may be one more drop towards 3K and then rise up.
Idea#5: [Cautious: Looking for 8489 break on Daily]
He says if price moves above $8,489 on a daily (or at least 4H), then a bullish confirmation is noted. He also talks about bullish "Morning Star".. I had to Google for Morning Star and Evening Star. And, then I want back to 28 Jan 2019 on a daily chart. Hello! I find a Morning Star right now. Are we upto something now? He was saying a clear break on a daily chart above 8000 will be a good thing. But, price broke below and tested the 7500ish region. And, he noted that saying bullish movement becomes a bit less expected if 7500 is crossed below.
Idea #6: ( Cautious with bearish outlook near term) [Ultimate Target: 10,000]
He is hoping for a rebound zone at 6,400 - 6,800
Idea #7: (Consolidate )
Consolidate between next 30 days within 8500 and 5650 for the next 30 days is his view.
Idea #8: (Confused)
Double Top
Support:7727 & 7250
Resistance: 8145 & 8315
Idea #9: (Bullish) [target is 14K from 6500 buy region]
He is uniquely talking about Cup & Handle pattern forming. 6500 Level is the level he thinks is a good place to buy with target being 14000.
Idea 10: (Cautiously bullish)
Trading at 8,000 USD is toxic.
He believes that we MIGHT see a Parabolic Bull Run like in 2017
Idea 11:
He is saying that 8000 is a level where he hopes for a pullback so that market is not super hot but moves up later at a better rate.
Well reading these 11 ideas. I find many are thinking price will rise towards large price numbers. But, almost all think in the near term we will see a price drop towards 7300, 6000, 3K region, 6500, etc.
Now we have three choices. We can go with these ideas. And, go short towards 6500. Or we can go against. And go long. Or we can put a buy order at 6500 and if the price never reaches there, then it will never be fulfilled.
Now you tell me what to do? Remember, Price can either go up or down or stay sideways. It can not go backwards or into another dimension
Would you be brave to go long here? I would not!
Would you be brave to go short... well..... In that case, the target would be 7280. and stop loss would be 8340 or 8107. Since everyone is bullish & greedy, let's get scared & short this #bitcoin. Most are greedy right now even on a roadblock on 8000. If others saying come out true, then we would be looking for 5730 as next target. It definitely needs to be noted that those numbers were taken out of my arse. I have no idea what-so-ever. I want to go long. But...
I hope you liked reading this long rant.
Please like me now!
Please follow me now!
Please comment below now with your thoughts as to why I am wrong. I need you to support me. If you make money reading this, please send me any amount of bitcoin to 3BMEXMMyewMmijzoKqbKNyWkCzXov6Vnsx
Note
I admit I was sitting on a good 100+% profit. But, I got greedy and was sticking with my initial assessment. I saw price go down to 7800. And, I did not take the profit. Rather I moved the stop loss to breakeven. I woke up seeing my stop loss got hit. I thought it was breakeven. But, the fees took care of a bit of a small loss. Do you see what I see today? I see a triangle
Note
Yes, I missed the triangle in my initial assessment. I am assessing my views again.Note
Or is it thisNote
My analysis for today looking at the price movement only 
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