BTC: how to turn bulls into bears

BTC INVERTED CHART UPDATE // So I have to step in one more time because I see so much euphoria still; its unbelievable and so many people are begging to get rekt. The crypto gospel is coming from everywhere as if cryptocurrency are going to save the world and BTC can never go down and FOR SURE will go to 100K, well, nothing is for sure in the market. Secondly, I heard all these stories already back in 2017; old news. So we are we and we are we going?

BTC INVERTED CHART (BE AWARE; UPSIDE DOWN!)
So for all you bulls out there being uncomfortable being bears; let flip the charts and do some bull work during bear times. (read this text as a bull but remind yourself we are going down instead of up)

What do we see? We broke "resistance" of the 4HR EMA ribbon and see a confirmed breakout to the upside with a lot of volume; then we set a period of "higher lows and higher highs". At this moment we know if we are in for this "bull" run to 44K if we get a good bounce from the 4HR EMA ribbon and continue to the "upside". After a very long "bear" trend from all the way back to december; finally we bounce back and head for our first target: 52K; if we break resistance there; we go for: 50K; if we break resistance there we can set a new high of 44K! Amazing, lets get this "bulls"! We also got help from the stock markets; as they are dumping the SPX500 to new highs on the inverted chart, this will help our bullish scenario here! This scenario would only be invalidated if we drop below support of our 4HR EMA ribbon and drop below 58500/59500 support. For now its time to be bullish, we have a breakout!

WE ARE BEARISH, THIS ANALYSIS TEACHES YOU TO THINK THE OPPOSITE OF WHAT YOU WANT.

IMPORTANT: this is not financial advice, trade or invest at your own risk and research.

Comment:

BTC will drop out of its bearish pennant soon...

Comment:

BTC dropped out of the bearish pennant; exactly as projected. ETH seems to be doing well; however that doesnt guarantee anything as BTC is hanging on a thin thread and is about to death cross. The last time we had a death cross after a run up we had a 60% correction on BTC (yes you read that right). I am not expecting another 60% but another 20% is definitely possible; which would punish the whole market severely! Check out what happened on last death cross and be reminded; this is the first death cross during this bull run:

Comment:

BTC UPDATE: ahead of schedule!

Comment:

BTC UPDATE: right on track here; yesterday’s dump was overextended therefore we are back above 50K right now with a possible retest of the 0.618 at around 52300/52500. If we break that level and hold it as support (to the upside) we might be turning bullish however I expect a rejection there and a continuation to our target of around 44K in the night from Sunday to Monday. My shorts are up over 800%; one of my best trades this entire bull run. I’m keeping them open and wait for Monday and next week’s future expiration. Projection for BTC in the coming 5-7 days: 50900 (current) - 52500 (weekend) - 48600 / 44000 (sunday / monday) - 48000 (recovery on Monday/Tuesday) - 52500 (Wednesday reversal) - 53500 (Thursday) - 54000 (Friday futures expiration) // If we do not hold 44K as support (wicks not included); we need to worry. If we hold 44K and reverse upwards; the bull run is still on. Lets stay sharp and keep a close eye on these levels and next week’s future expiration. Remember; only fake moves in the weekend! Happy weekend to all.

Trade closed: target reached:

Shorts opened at 63K closed at 47K with over 800% profit. Looks like the trend is reversing upwards.