Thought I would have a little fun with this... ; )
Stay Awesome!
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They may plan on a short squeeze at current price level $8,500 to $8,700 before taking it up to $9,300 to $9,500 price range.
People have been in "fear" for quite a while and this is an opportune time for them to accumulate more coins with less competition for those coins while "fear" is still prevalent. THEN once the price action is taken up to the $9,300 to $9,500 price range, we will see many novice traders begin to experience FOMO and buy in at or near the top of the $9,300 to $9,500 move; ONLY to experience "fear" once again when the price action comes back down to around $8,300 to $8,600 price level. At that point, many will sell "again" at a lower price than $9,300 to $9,500 because of "emotions." Then the price will chill there for a bit before continuing back up once again and they buy back in at a higher price once again; ultimately with less coins than what they would have had if they had not allowed "emotions" to dictate their trading.
So, for those planning on shorting here, PLEASE consider a stop loss to protect your capital.
That's my two cents...
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Those of you who have already bought in: Do NOT allow emotions to dictate your trading if the price were to drop significantly here. If it were to drop significantly here, I believe it will be for the sole purpose of a shakeout and be "short lived." Also, if it does drop significantly to new lows, this will only provide fuel for the price action to begin going up exponentially in my opinion.
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The two scenarios I just posted (above) is also a prime example as to WHY we should consider a trading strategy normally referred to as "Dollar Cost Averaging." Which means you buy and/or sell at potential key reversal in pressure points shown by the indicators; just in case the Composite Group(s) decide to push the price action totally opposite from previously signaled by the indicators in a given time frame.
I personally believe in Bitcoin and I'm willing to hold for an extended period of time if I need to while implementing a "Dollar Cost Averaging" trading technique. Trading this way also helps take out a lot of "emotions" from your trading while enabling you to create a more sound trading "strategy."
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Here's a look at BitFinex Short and Long contracts for Bitcoin. The long contracts are still substantially higher than short contracts. I'm rather skeptical of the number of contracts they list on their exchange. I can't help but wonder if a lot of those long contracts are "fake" in an effort to confuse would be buyers of bitcoin. This could possibly be a strategy they are using to accumulate more bitcoin purchased with Tether that they create out of thin air. This is a "conspiracy" of course.
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Sounds like everything in the world; especially with China and the U.S. is about to get VERY SERIOUS over the coming weeks. youtube.com/watch?v=oG1LIqMGTTc This is a serious cause for concern... Even with what is going on in the REPO bank markets. To me, this provides all the more fuel for REAL ASSETS; such as gold, silver, land, crypto, etc... to increase in value.
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"BTCUSD Has 4.5 Days to Dump Lower if it's Going to Do So."
Thanks for investing your valuable time to check out my video(s) and you kind words. Hope to have you back again soon. By the way, here's a new publication just posted less than an hour ago.
"BTCUSD Has 4.5 Days to Dump Lower if it's Going to Do So."
Putrid_Shittgenstein
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Well yes, the emergency printing and QE4 will certainly push crypto higher, that's a given.
My approach is to wait for the right signals and go all in, and if the whales wipe me out then I accept the loss and exit; But I only trade long, because going long has less risk than shorting imo, making all in betting approach possible.
But I use different indicators than you do, but I use yours for confirmation. And if you say long, and my indictors say long, then it's ALL IN baby :)
Welcome... and thanks for your time watching the video(s).
Stay Awesome!
David
Johnthebull
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Would you be willing to create a video talking about what would need to occur for you to change your view and take the position that Bitcoin is in fact in a bear market and will go much lower? What price on the downside would need to be hit, how long would it need to stay in that range, etc?