Basic Attention Token / United States DollarCoinbase
Description
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My previous post on Bitcoin was wrong. Despite seeing a hidden bearish divergence signal, they sometimes appear falsely at bottoms when reversing.
While looking at alts, I noticed this about them. Zooming in to hourly time frames (I got several points of confirmation, including increase in volume with price jump) that all alts with this pattern are being heavily accumulated. This is ground zero of the alt run.
You need to buy all alts with this chart. Right. Now.
Comment
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Update. The crash has started. This is the top. I sold everything.
I don't know man, before BTC rallied we could see very short and minimal textbook wyckoff accumulation and usually acummulation this close to the top doesn't lead to a strong rally. During previous bull we had a run from 30k to almost 70k in somewhat similar setup but even then the price barely made new ATH(different volatility so bigger swings) So I am not seeing big moves up personally, major alts like ETH and XRP are also following major sell off fractals, especially XRP, ETH too is trading below daily ichimoku and can't break out so all in all, pretty fishy to me (: There are many arguments that can be made against. Of course bullish case can also be seen but I wouldn't trust anything with bitcoin still being stuck inside the weekly cloud and being below monthly ichimoku for the first time in its history.
Could be an infamous bump and run setup. We will find out very soon.There is also a death cross on the weekly macd on Bitcoin, something pretty much everybody seem to have missed somehow, even though previously it led to over 70% decrease in price.
frosty4321
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@204f527996864c37bf99691291ae25, Yeah I like your skepticism. I'm only watching the alts and BTC on very short time frames, and for the foreseeable short future (12h-24h), there's no sign of stopping. But I just posted another thing on the stock market, the spark of a historical crash. What you're saying would coincide with that timing, coinciding with a market selloff.
Could be an infamous bump and run setup. We will find out very soon.There is also a death cross on the weekly macd on Bitcoin, something pretty much everybody seem to have missed somehow, even though previously it led to over 70% decrease in price.