BTCUSDIDX trade ideas
One Swallow Does Not Make a Summer (or Spring)Meaning:
A single instance does not indicate a trend.
The fable related to the expression goes something like this:
A young man spends all his money on gambling and luxurious living until he has just the cloak on his back to keep off the cold weather. Seeing a swallow fly past on an unusually warm day, he concludes that spring has come and sells his cloak in order to be able to place one more bet. Not only does he lose the bet but the weather turns cold again. He finds the swallow frozen to death and blames it for deceiving him. In some versions the young man also dies.
www.bookbrowse.com
I still believe Bitcoin trend has changed to bearish in the longterm and it will not be able to reach new highs!
Don’t believe it, read this:
Learn from Tesla experience..!
Interesting FailWas watching for the completion of an interesting pattern. It failed to materialize, but thought I'd still share
Bitcoin & Altcoins slipped into Bear market!In these 6 charts, you see the total cryptocurrencies market cap, the total cryptocurrencies market cap without bitcoin, and the bitcoin price chart.
watching them all together will help you decide better and provide a better picture of the situation!
While many think the Bitcoin crash will be an opportunity for altcoins, numbers don't show this! Actually, altcoins are more vulnerable to bear market! and they experienced a 32% price drop in 7 days!
Anyone who denies this reality will pay for that soon!
BTC Dropping to 45K and possibly further!!! Short Term analysisBTC gave us a fakeout above 60k and has since failed to find support at the 54-56k range sending us down to the 48-51k levels. It looks to me that this pattern of a rounding top may fractalize and continue a 3rd time sending us to 44-46k before any type of bullish correction in price.
THIS IS NO FINANCIAL ADVICE IT IS STRICTLY MY OWN PERSONAL TECHNICAL ANALYSIS THEREFORE IT IS MY OPINON.
The last 11 days..!Do you see that Bitcoin price chart has made 11 “ Lower Highs ” or not?
Why it is important?
Because in the last 11 days 300 Billion US Dollars was washed out just in Bitcoin(Max was 1.206 Trillion)! In the whole cryptocurrencies market this number was as big as 500 Billion US dollar.(Max market cap 2.27 Trillion)
coinmarketcap.com
Let’s see what are the differences between uptrend and downtrend ..!
An uptrend, which is a series of higher swing highs and higher lows, reverses into a downtrend by changing to a series of lower highs and lower lows.
A downtrend, which is a series of lower highs and lower lows, reverses into an uptrend by changing to a series of higher highs and higher lows.
Another key point is to know the difference between retracement and reversal !
Retracements are temporary price reversals that take place within a larger trend.
Retracements in an uptrend are characterized by higher lows and higher highs
A reversal, on the other hand, is when the trend changes direction.
With a reversal, the price is likely to continue in that reversal direction for an extended period.
Reversals are often characterized by patterns that are contrary such as double tops.
www.investopedia.com
Now let’s see who reliable were my previous analysis about Bitcoin and related assets:
1- October 2020, Target 100K when Bitcoin was 10K
2. Bitcoin vs Miners performance in a bullish rally (October 2020)
3. Recommendations to add more Bitcoin to portfolio when it was 15k November 2020
4. Recommendation “Should we panic??? When price dropped from 19.5k to 16k in November 2020
5. Update in Target price and Timeframe when Bitcoin was 19k in November 2020
6. Comparison between Bitcoin and miners performance, and Tesla (January 2021)
7. Recommendation to buy more Bitcoin when price falls from 42k to 30k in January 2021
8. Prediction of a sharp bullish rally in February 2021
9. Comparison between Coinbase IPO effect on Bitcoin with Bitcoin.com phenomenon 2017
10. First short analysis when Bitcoin was +62k(10 days ago)
Trust me this time is different, Bitcoin could go down to 20-10k in year!
Correction, Crash, or Burst of a Bubble?A market crash is a rapid and often unanticipated drop in prices. A market crash can be a side effect of a major catastrophic event, economic crisis, or the collapse of a long-term speculative bubble.
A bubble is an economic cycle that is characterized by the rapid escalation of market value, particularly in the price of assets.
This fast inflation is followed by a quick decrease in value, or a contraction, that is sometimes referred to as a "crash" or a "bubble burst."
www.investopedia.com
Textbook Wyckoff distribution; See you back at $4.5k!BTC looks like shit, what can I say.
Google up Wyckoff distribution.
Bitcoin closed below its 50EMA, the worse has yet to come..!No matter what time frame are you looking at, Monthly, Weekly, Daily, or hourly, all have made Bearish patterns!
In a couple of years, we will see if these cryptocurrencies become a "Ponzi Scheme" or "Tulip Mania"!
do you want to know what is a Ponzi scheme or a Tulipmania?
read these articles!
en.wikipedia.org
en.wikipedia.org
