These past few days have been dreadful in crypto, everybody seems to be losing their minds about their side of the fence and how we're going to break up to the moon or down to doom - you know, the usual.
There was a lot of bullishness coming in to 7400 that got wiped out down to 6400 and now there is a lot of bearishness....
TA:
1) Obviously we bounced off the downtrend line at 7400, furthering confirming NOT ONLY that line, but the AREA PATTERN we are ranging in MEANING it will most likely respect the bottom as well(which is technically somewhere in the 6k area).
2) SHORTS ARE AT AN ATH, see vertical lines on the chart, I will leave it open to interpretation.
3) Due to order blocks and bottoms, I am eyeing 6200 seeing as longs got cleared out from the 7ks and shorts are tripping over each other to open, there is a small chance we can go lower, let alone past 6.2k.
Wait for the price to settle, place your position, and be patient ever fourth.
P.S:
If the main thing that makes a market go up is disbelief to that possibility (and people betting against it i.e shorting) and bitcoin is rampant with die hard believers, what better way to scare the shit out of these people into believing all is lost other than taking 111k bitcoin out of dormancy and sending it to massive exchanges, opening shorts that everybody can see, letting them sell off and take shorts with the comfort of you behind them, and then rapidly wiping every dumb mother fucker out all the way up to 10k?
Idk just an idea.
source: twitter.com/FourthCr.../1037750267398242304
There was a lot of bullishness coming in to 7400 that got wiped out down to 6400 and now there is a lot of bearishness....
TA:
1) Obviously we bounced off the downtrend line at 7400, furthering confirming NOT ONLY that line, but the AREA PATTERN we are ranging in MEANING it will most likely respect the bottom as well(which is technically somewhere in the 6k area).
2) SHORTS ARE AT AN ATH, see vertical lines on the chart, I will leave it open to interpretation.
3) Due to order blocks and bottoms, I am eyeing 6200 seeing as longs got cleared out from the 7ks and shorts are tripping over each other to open, there is a small chance we can go lower, let alone past 6.2k.
Wait for the price to settle, place your position, and be patient ever fourth.
P.S:
If the main thing that makes a market go up is disbelief to that possibility (and people betting against it i.e shorting) and bitcoin is rampant with die hard believers, what better way to scare the shit out of these people into believing all is lost other than taking 111k bitcoin out of dormancy and sending it to massive exchanges, opening shorts that everybody can see, letting them sell off and take shorts with the comfort of you behind them, and then rapidly wiping every dumb mother fucker out all the way up to 10k?
Idk just an idea.
source: twitter.com/FourthCr.../1037750267398242304
Comment:
Comment:
I could not in good conscience recommend buying at these levels, I am still waiting for a firm touch of 6k or lower before I bet on a swing trade up into the 7ks.
There won't be enough turnaround strength to break up into a bull trend unless we hit the lows again.
Will update when there is confirmed direction.
Patience is key.
There won't be enough turnaround strength to break up into a bull trend unless we hit the lows again.
Will update when there is confirmed direction.
Patience is key.
Comment:
Eyes on the prize now ladies and gentlemen.
Comment:
Eyes on the prize.
Patience always wins.
Let the games begin.
Patience always wins.
Let the games begin.