The Bfx/Bitmex/Binance global average for longs is just above 72% This ain't nuttin' but a bull trap. Next comes the long squeeze down. Bulls have been so blinded for the halvening, they won't see it was whales who pumped it and dumped it all along.
MC_Peewee
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@Jeff_Cryptopop, tbh, my original suspicion is that the dump at the end of 2018 was a massive warning of what's to come. Those longs especially on BFX have been accumulating a LONG LONG time.
3-1-5.
Craig.
The ace.
If it means what I think it means, the halvening is going to have a neat surprise in store.
So far though, from my very little knowledge of EWT, Bitcoin in my opinion hasn't fully produced the wave 2 upwards yet unless the Bitstamp dump was a very well hidden ABC.
DoctorJohnSmith
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@teh_salesman, Even if it rises substantially 3 months after the halvening, I really think the whales have in mind a deep ship wreck coming. Plus, the prevailing call at the moment isn't safe haven (which is also an illusion) or a hedge against inflation, it's CASH IN HAND.
MC_Peewee
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@DoctorJohnSmith, The question is, when would the best time to dump be?
Something about our recent dump on March 12th doesn't sit right with me.
That dump was insanely stronger than the 2018 one but well hidden due to where Bitcoin was at before it happened.
In not even 1 day Bitcoin dumped almost the same percentage as it took 38 days to accomplish in 2018.
As far as Elliott Waves are concerned, that usually signals an impulse.
Guess whale c.
JGM0706
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@teh_salesman, do you not think the price will go down like in the 2016, for at least two months.... until July, then go back up?
MC_Peewee
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@JGM0706, That's actually what I was suspecting for a while, but the chart got really fuckin' weird when it bounced all the way back to 10k.
In the time span of 2 months, Bitcoin shaved off 50% of its value in 1 day, then took the rest of the time to go up 160%.
I WAS thinking we would have topped out somewhere around 7k/8k or so, then dropped for a new low somewhere around like 3.2k/3.5k like you said, or maybe a higher low at 3.7k/4.1k.
Then after that, we would have gone back up to something like 16k/17k.
The chart bounced way, way too high for that original plan to have worked out. So now, unless we are in the very beginning of the impulse down to double/triple digits, I have absolutely no fucking clue what is happening. I've already canceled my subscription to this website, so within the next month or two I probably won't be posting anymore anyway.
It would take a miracle to get me wanting to stay involved in investing, especially after that bullshit Bitcoin just pulled.
MC_Peewee
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@JGM0706, Your comment just reminded me of a potential scenario which makes me both angry as fuck and amused at the same time.
Hmm, wonder why I cannot get ahold of my money..
JGM0706
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@teh_salesman, this is exactly what I was thinking... I will send you something.
MC_Peewee
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@JGM0706, After thinking about it more, unless we have a new low under 3.1k, this is more than likely how it's going to play out.
Be interested to see what you send..