Huge bull trap

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Today it was confirmed that the MACD had a bearish cross in the weekly chart, which we had a very long time ago.

When it happened in 2014, we dropped the next few days very quickly, which is common in a parabolic chart.
That was exactly the case at Nasdaq, for example.

Therefore, I will continue to stay in dollars and run margin trading to gain wins in the ''crash''.

Also, one thing that makes me sure that we are already on top of a bull trap is the fact that we are still in a down trend and that everyone is bullish at the moment. As the rule says, sometimes you should do exactly the opposite of what others do.

This shows how naive and greedy we humans are, even though we had these scenarios often enough earlier.

My targets, where I will go shopping:

1. ~ $ 7500-8000 ------- 2. ~ $ 4000-5000 ------- 3. ~ $ 1500-2000

Good luck!

Note: My other ideas are now closed manually


Comment: If we Bitcoins closes the daily candlestick below support at $10400, I am expecting a bloodbath.

Means: Huge sale for us :)
Dude. I can't thank you enough. i saw your post last night and sold everything off at 1 AM. Nice work.
+2 Reply
E55 jroderick888

Nice to hear and that it helped you :)
I agree, the MACD weekly cross hasn't really been talked about but I saw it as a major bearish indication. Well, here we are - the selling has started again in earnest!
+3 Reply
E55 the_sunship

Good for us :)
In 2014 we've got the MTGox stollen "problem". In that time, 70% of all negociated BTC was there. I think that was the main reason why in that year BTC crash. So in my opnion this similar crash could happen only if something terrible on BTC network happens.

Thanks to remind us for that. We always have to be carefull with our money. Stop saves!
@brunomns, thether bubbel could us bring back to 2014, or btc will moon like mcaffe predicted, who knows for sure?
+1 Reply
josephtse brunomns
@brunomns, it could happen if everyone finds out Tether is the reason why Bitcoin goes up. Buy within the 2 hour after a new Tether grant and you make money long every time. Sell when tether gets above 1.05 as it falls back in line to parity.
+4 Reply
josephtse josephtse
@josephtse, I mean sell when it is below .97. Buy when it is above 1.06.
+2 Reply
thank you for your joking XD
+1 Reply
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