The_black_swan

BTC bubble, goes on its sweet way down after a bull trap.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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92
I think the title says it all..))
Comment: Sometimes I wonder if TView is not rigging the game and making on purpose that the clowns like Magic poop canon, or Darkenegry are "Top traders".
That would somehow mislead people and cause masses to trade more and worse.
I think TView would win from that because it would cause masses of ignorant to think they can trade and make TA. Not sure about that though.
But really... these clowns as Top traders is a bit odd.

Not saying that I am good or anything. Well for that, I guess you can just look at my two last forecasts and judge by yourself.
Comment: Wooo.. things are going a little faster than expected! Haha!

But it should stop around 6800$. I think it will go lower, but this 6800 is a significant support, which I expect we will hold a few days.
Trade active: What I want to say here, is that I mostly do not use TA, and this is the reason why my charts are very simple.

My charts are mostly based on fundamental indicators that I have gathered with time. These indicators seem to work quite well, and to be honest, even better than expected. They tell what is the trend and how strong is this trend. Then with a little bit of TA, I can fit this trend into the graph. That's why I only use major resistances and support like the 200 daily MA, and the two blue lines. And nothing more.

If you want to predict the price action, you need to know both the fundamentals and the market sentiment. If you mostly use TA, you're screwed, you will never make good forecasts.

And I am amazed to see how the "top trader" of TView almost only use TA and get so much attention. They don't make good forecast. Look at their track record, they're not good. But for some reason, TView put them in front...

Anyway: fundamental indicators + market sentiment indicators --->> chart + major supports / resistances --->> price forecast.

Please have a look at my previous forecast of March-April.
https://www.tradingview.com/chart/BTCUSD...
As you can see I called a "bull trap" 1-2 months in advance.
Even though the timing was not so good.
Also I didn't expect that the alts would jump so much in April.

Cheers everyone :----))
Trade active: If you are interested in making such forecasts, I make 1-1 tutorials where I explain my method.

Add me on Skype: fx.hardy

I do not know if you will be able to make such forecast right after the tutorial, but one thing is sure, you will not wonder anymore where BTC is going in the next few weeks and months.
Trade active: We're reaching the end of the forecast.
For now, we did not reach yet 5700 $, we will likely stay in the support zone we are in for a few days (6200 - 7000), before the next move.

Stay tuned for the July forecast.
Trade active: Here is my July forecast.


Please like / comment / subscribe :----))
Trade closed: target reached: We reached 5755$ on Bitfinex, so I close this forecast and move on to my July forecast that I posted 2 days ago (see just above).

I expect the downtrend to continue in the coming weeks, however we are having a powerful green candle at the moment, and I expect that it will stop momentarily the very strong bearish momentum of the last 3 days. So probably now a few days of ranging before seeing a new trend.

Take care everyone!

Comments

Do you really think that the drop will be so fast? There are no FUD in the air now and also bearish market has to end with calmer moves. According to my predictions the bear market will terminate during late summer by touching $5k
+6 Reply
The_black_swan petrkovacik
@petrkovacik, Yeah I also think it might not be so fast, you're right. And your prediction seems fine too. But FUD news can come whenever, also when you do not expect it.
+3 Reply
The_black_swan petrkovacik
@petrkovacik, See... :---)) it dropped even faster!
Reply
petrkovacik The_black_swan
@blacksun, you were unbelievable right! Good job!
+1 Reply
lol, someone told me I should publish my ideas because then I could be a top trader, I said, there is a direct correlation between terrible TA and being a top trader, so I am afraid to publish my ideas!!! Lol, nice work by the way. Yes I wonder if they use a botnet or something, have you seen the advice of some of the guys on top, one of them is just terrible, he calls himself Masters, but i don't know what of.
+3 Reply
@cycler, Hehe definitely. But don't worry, as long as you don't post pages of irrelevant TA every day, you won't be a Top Trader ^^
Reply
Please allow me to say this once more. You Sir are AWESOME!!!...thanks for the educational tip too :---))
+2 Reply
I like that your trend lines are real. I look at some lines that TAs draw and just wonder where they come from.
+2 Reply
Amazing how accurate you were ! Congrats
+1 Reply
@Epsos, thx!
Reply
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