snookerer

Bitcoin price pump in 2 days or huge drop

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We pump in less than 2 days or we have a huge drop! We are in descending triangle inside of a rising wedge which is very bearish . We are also at the very top about to cross the next ring out from a previous ring in the same fib circle that caused us to drop 50%. Please refer to included chart and image to reference previous capitulation ring and Resistance level for top of descending triangle .

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Trading is all about mathematical probabilities. The macro is still bearish. It may change but is still bearish. Yes we could be in for staged bull scenarios (stepping upward in price), however, there are other factors to consider:

1. Price is rising whilst volume is low = danger signal vis bearish indicator
2. When moonboy noise levels rise, bearish signal can be lost...always prefer signal to noise, as any respectable engineer would
3. Media is highly positive about BTC price - history shows an inverse relationship between media spin and price - hence you should sell when everyone is talking about buying and vice versa (buy when there is blood on the streets ie following capitulation)
4. If the 2019 cycle is a Wall Street Cheat Sheet market cycle, we have not yet had the denial and capitulation phases. This short bull run on the micro level will take the wind out of Bull sails should the price return to the 8k level...at which point capitulation would be more probable
5. No new money is entering BTC. The same bots and the same lottery ticket mentality Moonboys are locked in what may as well be a closed system, in what could become a race to the bottom.

In all, there is a chance of upward step by step rises in price, but if you ignore the non-trivial risk that the denial and capitulation phases have yet to occur, your risk management capabilities are lacking (or you are a Moonboy in which event you are impervious to reason). Moonboys are not traders. They are Gamblers. They may be identified by statements such as "The Bottom is in". "BTC will never go below $8k again". They are shils for their lottery ticket get rich quick delusions. Enough.
+10 Reply
love the chart my man. dump is inevitable.... keep up good work
+5 Reply
Well done. You warned the sheeple, and they kept on chewing moon grass!

I had no doubt in your prognosis, BTC's getting bloated with dominance in the market and about to release all that fake volume, USDT gas.

Now, STFU all you troll doubters, and follow The Lord of the Rings :)
+4 Reply
Tiny pump and then a giant drop.
+3 Reply
The circle boy is back lol constantly being wrong
+3 Reply
birchgrove Darkside999
@Darkside999,

And what have you published ... or are snide comments the best you can do?
+3 Reply
basim10 Darkside999
@Darkside999, so who was right?...the moon boy YouTubers who were overly bullish since BTC was at 13k last year?
+2 Reply
@basim10, I'm not a bear nor a bull I trade either side. But this circle boy is a permabear which is just funny to me. Now he has been wrong so many times being bearish when it was clearly short term bullish he is giving you 2 sides of the possibilities to cover his ass.

Taking sides will rekkt you. Follow the trend not a permabear lol
+2 Reply
Thank you!!!
+2 Reply
Awesome
+2 Reply