Bitcoin WARNING $4700 - Called It Months Ago

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello everyone, I've been calling that drop since mid January and it look's like its happening now. Anyone who know's how to read a market looking for set-up market manipulation can CLEARLY see the move BTC is pulling. The people in control of this market have been setting it up for a long time and they're getting everyone aboard to drive it down. Brokers, whales, experienced trader and then YOU investor enthusiast.

The volume has just drastically increased and the momentum went from sideways to bearish . The only strong level we have from $10 000 is the $8 500 area. We have not heard of any major FUB news crap about BTC for a while and I suspect something is cooking. I think we're going to get MAJOR FUD at that price level to help break that support and drive the price further down. At which point from $8 500 to $4 700 there is no longer any strong holding level. We go DOWN.

The 2 possibilities i'm seeing are those:

1. We retrace to about $10 000 and continue going down (squaring up that big candle which is a bad thing in the long run and indicates that we might see BTC go sideways for a while once it bottoms out at $4 700 (if it does))

2. We keep going down and leave square up on the way down which indicates a bounce at the bottom and uptrend movement once we bottom (again if we do bottom)

Please follow, like and comment if you agree with this chart!

For reference to the global 5 waves BTC move I have been predicting for months click on the Related Ideas under the post!

Thank you for your work, much appreciated! What do "squaring up that big candle" and "leave square up on the way down" mean? I've seen the term "square" on your other ideas, but I still don't know what it means.
what are the chances in your opinion, as a percentage, that the price doesn't even come close to the $5900 bottom and suddenly a bull market starts nowish... 0%? 5% ?
Denzoss Gandalf123
@Gandalf123, that would be very foolish of me to answer that question. I have no idea.
+1 Reply
@Gandalf123, There will have to be an accumulation period. I mean Ether pulled out a pretty incredible stunt in the summer last year and then at the end of the year but I think this time the market needs to go through a serious restructuring phase, so yeah, the chances for a sudden bull market are between 0-5%, IMO :).
+1 Reply
Have said it for dayes this World happen, so total in in the big dip.
Can we work out som entry points to short?
HI bro, I agree with You. Im still on side waiting for that dip ! So I have one question bro. Between what lvls are going to begin Cost Averaging ? TY bro we stay strong xD
+1 Reply
Denzoss bethek
@bethek, I dont understand your question. What do you mean by ''Cost Averaging'' ? You mean at which level we re-enter the market? Can't tell right now, market needs to play out
bethek Denzoss
@Denzoss, Yeah exactly I mean for Scaling-Laddering my buy
+1 Reply
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