Let's see how it plays out. So far so good everything is overbought at this level, resistence is strong.
High 4000$ Resistence
Lower High
Overbought Money Flow Index
4 Tops inside it.... If this isn't bear well I guess I have to quit trading on BTC ever.
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So far so good.
The rabbit hole is getting deeper as more than 90% of traders are "screaming" out of their lungs, "BOTTOM!!!"
This situation makes it perfect for shorters to find enough liquidity pool and enough to catch more profits on the way down bellow 3000$.
When 90% of dumb money say something, it means that 90% are wrong. The reason why this world revolves around the 1% richest :).
When you ever saw dumb money getting rich? Never. This time neither.
Crypto is now a corpse to be thrown away & hidden, while the blockchain technology behind it is taken over by the big guys and bootstrap it on their own Legacy systems.
In the end, Bitcoin might survive this crypto-apocalypse. But the rest? Malta which was a new founded kingdom for Wash-Traders, Spoofers & Money-Launders like Binance, Bitfinex and other crypto criminals. Now is under scrutiny by IMF. This will collapse the access to illegal wash trading empire of Binance and other big crypto companies that they are struggling to find a way to capture more liquidity for their manipulation.