When everybody is thinking the same way.
You should examine the other side!
The current move we have on BTC, unfortunately makes me rather bearish than bullish.
What's going on right now is NOT a sign of a healthy, good performing market.
1. A healthy rally would be if it had retracements and a clear trend.
Why a trend?
Because that would actually tell you that the market is holding strong, has fundamentals, new money is comming in and the pump is not ONLY manipulated.
2. The way BTC is going upwards is totally not healthy.
A parabolic move should occur after the highs were broken (20k), as there are no resistances anymore so that the price can get pumped easily.
That's my opinion of how a market should logically work.
3. A parabolic move under the highs where you got tons of resistances and all of those get broken totally waves a lot of red flags.
Parabolic moves always started after the break of last bull-market highs as you can see on the chart.
And its perfectly logical to occur so (Because there are no resistances afterall).
""" -- When everybody is thinking the same way, you should start thinking: "it cannot be right if everybody is thinking the same way". --"""
Also:
,,B-waves are phonies. They are sucker plays, bull-traps, speculator's paradise, orgies of odd-lotter mentality or expressions of dumb institutional complacency (or both). They often are unconfirmed by other averages, are rarely technically strong, and are virtually always doomed to complete retracement by wave C.
If the analyst can easily say to himself, ´there is something wrong with this market´, chances are it's a B-wave.´´
-Robert Prechter, "The Elliot Wave Principle"
Keep in mind this is a long-term idea.
I do post long and short calls on Bitcoin and other Altcoins within those big moves. For example those were my last calls:
Call 8300 Short
Call 6400 Long
Call 8930 Short
Call 8030 Long
Call 8785 USD
Call 9k Bull-Flag to 9.9k
On Twitter: "Crypto_Academy_"
Follow me on Twitter if you like my Analysis and want to exchange some of your ideas with me. :))
Thank you a lot for reading through this.
I wish you best of luck!!!
You should examine the other side!
The current move we have on BTC, unfortunately makes me rather bearish than bullish.
What's going on right now is NOT a sign of a healthy, good performing market.
1. A healthy rally would be if it had retracements and a clear trend.
Why a trend?
Because that would actually tell you that the market is holding strong, has fundamentals, new money is comming in and the pump is not ONLY manipulated.
2. The way BTC is going upwards is totally not healthy.
A parabolic move should occur after the highs were broken (20k), as there are no resistances anymore so that the price can get pumped easily.
That's my opinion of how a market should logically work.
3. A parabolic move under the highs where you got tons of resistances and all of those get broken totally waves a lot of red flags.
Parabolic moves always started after the break of last bull-market highs as you can see on the chart.
And its perfectly logical to occur so (Because there are no resistances afterall).
""" -- When everybody is thinking the same way, you should start thinking: "it cannot be right if everybody is thinking the same way". --"""
Also:
,,B-waves are phonies. They are sucker plays, bull-traps, speculator's paradise, orgies of odd-lotter mentality or expressions of dumb institutional complacency (or both). They often are unconfirmed by other averages, are rarely technically strong, and are virtually always doomed to complete retracement by wave C.
If the analyst can easily say to himself, ´there is something wrong with this market´, chances are it's a B-wave.´´
-Robert Prechter, "The Elliot Wave Principle"
Keep in mind this is a long-term idea.
I do post long and short calls on Bitcoin and other Altcoins within those big moves. For example those were my last calls:
Call 8300 Short
Call 6400 Long
Call 8930 Short
Call 8030 Long
Call 8785 USD
Call 9k Bull-Flag to 9.9k
On Twitter: "Crypto_Academy_"
Follow me on Twitter if you like my Analysis and want to exchange some of your ideas with me. :))
Thank you a lot for reading through this.
I wish you best of luck!!!
Comment:
Just an update.
We seem to be approaching the green trend-line that I had drawn 5 months ago.
This will be a key point of interest.
Therefore I am buying on the trendline obviously.
Even if I believe it wont hold on long-run and we still will visit lower levels.
So if we fall lower to my I plan to keep having cash aswell in order to get the super cheap prices too just in case. :)))
We seem to be approaching the green trend-line that I had drawn 5 months ago.
This will be a key point of interest.
Therefore I am buying on the trendline obviously.
Even if I believe it wont hold on long-run and we still will visit lower levels.
So if we fall lower to my I plan to keep having cash aswell in order to get the super cheap prices too just in case. :)))
Comment:
Update.
We finally have reached the green trend-line.
Now this is the question.
Hold this as a new bull market trendline or break it down?
A break down would be very significant as this trendline seems to be
of a high importance.
We finally have reached the green trend-line.
Now this is the question.
Hold this as a new bull market trendline or break it down?
A break down would be very significant as this trendline seems to be
of a high importance.
Need to say. The Charts are developing rather scary and bearish now after a few months. Just like my post here was predicting it. :)
My Twitter is: @Trading_Pros_
Currently
Follow me here and there as you can see Im trying my best. :)