This is what I call being delusional.
2nd re-test of 36k then down? Too many ppl are bearish in this area so probably another short squeeze incoming.
Now this is how a textbook descending triangle looks like. Since ADA is one of the top altcoins and whales are taking its chart very seriously I say crypto is pretty much done at this point. In May Dogecoin was a bearish signal, now it's Cardano.
We're in a falling wedge, candles look in line, structure looks too obvious. Next drop will have a significant bounce.
Shittiest descending triangle of all time and -38 % correction soon? We had a false breakout recently at roughly 34k and my hope for super bullish move is kinda gone now. I still don't think I wanna take any trade here, too risky for my taste.
Expecting short sellers getting their accounts liquidated in this area.
I'll give for a collapse 70-80 % chance of happening and for a massive bulltrap 20-30 % chance.
Most traders are shorting this and think exchanges will allow them to profit all the way down to 20k region. All those ppl that didn't have balls to short 60k with me are now opening shorts with confidence. On the flip side there are still many bulls bragging "I'm still up 200 %, I'm still up 100 %" and not believing in my "ridiculous bottom targets".
I'm betting on bear market continuation as I'm already in short and dollar cost averaging in case the price continues upwards. Am I going to get rekt?
If you extrapolate 65k to the baseline it's roughly 53 %. This will take us down to 14k. I could be wrong and this is only a sideways action before the elevator down, but I'm not a fan of trading setups that look too easy. Imo they're making it look boring and not exciting on purpose so the bears get too relaxed and then surprise them with some kind of scamwick or...
I might be wrong, since I suck at trading altcoins. It's just a small entry so I'm not gonna care if trade goes wrong.
Everything is on the chart. All the shillers, youtubers were saying "as long as we are above 20 weekly MA" we're still in the bull market. Now that we're below it no one talks about it anymore. Isn't that interesting?
I'm not going into details, but this is my final warning. Why do I think it will go so low? Because when you zoom out and see the weekly chart it's just one straight line. Pullbacks are only seen on lower time frames. It will break 200 weekly MA because it never did n history and this will be a final collapse of crypto where only the strongest coins will survive....
Got nothing to say, chart is self explanatory.
Last pump before the pyramid scheme collapses.
I was wrong on my previous prediction calling the right top. I was also wrong calling the right bottom. So here it is, 1000 $.