MrRenev

Crypto bull calls: A running gag. Part 2. PROVES BTC IS A PONZI.

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hey Hey hey! Back already with another post to show you the HYPOCRISY of crypto authors on trading view and twitter , and crypto bulls in general.
The STUPIDITY, the BAD FAITH, the DISHONESTY, the LIES.

They only want 1 thing: and that is for you to buy their bags.
When I was actively shorting Bitcoin they said "don't listen, he has a conflict of interest".
When I quit BTC to be neutral they said "don't listen, if he really believed that he would be short with everything he has".

Disgusting liars.

You might know them for all the fractals to show the price would go up. I don't think I have to demonstrate that.
And when there is a big fractal that is impossible to miss showing the price will go down, do they post this? NEVER.

I have several post showing you the fraud that are the BTC promoters.

If Bitcoin is not a ponzi scheme, then I do not know what it is.

I warned you since early March 2018 BTC was a ponzi scheme, and not to get baited.
The price was $11,000 then. It fell down to 3000.
You had some upside, price went to 13900 (78.6% retrace), but that is one terrible risk reward.
I do not think you will get to see 11k or more ever again.

For short term speculators like me, if I were to trade this, it will be the exact same way I did back in April 2019:

About that 3 times faster, check other similar cases:
Sugar , went up quite fast, down a little slower.

Nokia , visually went up slow, down fast.


I will also show something, that I have now been showing for years. And I think this is very important.
Angles of the uptrends are getting weaker and weaker.
Angles of the downtrends remain the same.


You have 1 month, maybe 2, before the price returns to 3k. A final dead cat bounce, and then BTC will fall below 3k, and it will be over.
2019 Bubble is bursting. Your dreams of lambos are over. All BTC retail bulls have been doing is letting the promoters dump on them.

Bitcoin is a ponzi scheme. It's over.
Comment: Really looking super similar.
I know BTC investors really love side by side charts.
Well, only when it shows the price going up.
Easy fix, I flipped the chart! And voila.
A: OR:

The future is bright and beautiful for Bitcoin bears ^^
Comment: Profit taking time. Dump on fomo suckers.
Should go back down.
Comment: Brace yourselves for a "The bull market is back bears were wrong" situation.
Risk reward stinks to buy now, let the fomo honk honks do that.
An early entry on a triple bottom around 7800 that would be interesting.

Bears are an endangered species.
Comment: If the fractal is right, about now should be the time where it doesn't go higher.


If the price goes higher brace yourselves for the (negative) positive feedback loop.
Comment: Hard not to think this will work out...

Comment: Getting harder and harder for crypto shills not to see it...

So it looks likely that:
Less than 2 weeks before price going under 7k.
3k by mid november.
1k before the 31 December is possible.
1k by mid november is possible! I wouldn't mind seeing that.
But I would mind, I pulled my money out of Bitmex because it was too slow...
Comment: Still following the pattern...
3 months. This is how long you have before BTC visits 3k again.

But seriously, only idiots SERIOUSLY (the keyword is important) try to time the market.

Your buy & sell decision do not depend (well they do a little but not in that way) on timing but on price action news etc. The timing that matters is, if it takes too long to bounce, then get out of it. For example.

I keep saying 3k but on my own chart it stops for a while at 4-5k lol. It's approximate.
What I know is if this market was actually interesting to trade I would buy around 3-4k because trust me, crypto brainlets WILL see a double bottom.
Goes to 1-3k eventually but idk when that will be.

Still I think it is important to try and time the market, vaguely, for several reasons:
1- You know how long your money will be "dead money" / frozen (so is it worth the wait?)
2- If things take too long you might sniff something is wrong and get out (intuition)
3- If you are interesting in buying something, you have a vague idea of when you will need to have available funds, be more efficient like this.
4- You can have rules such as "I am not taking that trade if the price dropped too fast to my entry".
5- To choose options expiry dates.
6- For fun/to understand price movements better/other/to know a which date to put an alert to say "told you so".

There are all kinds of exceptions especially with the stock market.


Railway bubble "bull market is back" and full retraces lasted about the same time, give or take 1/3




Just gives you an idea.

You can say "ok it's PROBABLY not going to take less than 25% of the time" and "it's PROBABLY not going to take more than twice the time". Like you look for the retrace of a 2 week move, you don't expect it to take 15 minutes, you don't expect it to take 6 months, get out if it takes more than 2 weeks to even get started maybe, for example.

Comment: Looking the same but with a lower high rather than higher high.


Or we can just say "everything between 4k and 13k is noise".

It's a slow week... Everyone is doing nothing waiting to see if some of them start selling off in the stock market or bond market, ready to run for the exits.
The calm before the storm...

So time to backtest, watch videos about investing, look at our past trades, look at bitcorn... Fall asleep...
Comment: Price just consolidating below resistance reeeee

Get ready potentially for a break... Possibly fake break.
Not worth taking...

Comment: Wow what happened. Uh that's weird. BTC went up.

Huh. Strange. According to all the paper trader $2500 accounts experts on this website, I was the biggest fool for going "against the trend on this pattern".

Comment: This is how REAL speculators trade.

You trail your stop and stay in as long as it goes your way.
Even if you have a vague idea of a target, just stay in if it goes strongly in your favor.

When it reverses you get out.

Simple. Yet all the BTC warriors and penny stock students and FX gamblers following a signal service avoid doing this.


Regardless of the price going way up or way down now even the simpliest of simpletons can understand I was right all along. Since I was doing the right thing. Kiss.
Comment: Is there anyone reading this that is not simply a bagholder that gets angry each time I say something bearish?
Or am I talking to myself? XD

Anyway, my intution is telling me that BTC even if it goes up will stop a little short of targets (crypto traders are novices and take profit early and run their losers). Also, I think it will be important to look at moving averages now.

Comment: Beware the drift of death.




Comment: Have to share this...

According to some crypto bulls (I am not making this up)


Crypto enthusiasts were going hysterical and swearing the bull market was back when the price made a "golden cross".
Watch carefully how they act when the price makes a "death cross".

By the way McAfee changed his 1 million target, it is now 2 million.
If anyone watches his videos, the old man is a complete lunatic now, he keeps contradicting himself and acting paranoid and saying outrageous nonsense, I think he is under the influence of drugs 247.

People listen to that guy. Incredible.
Comment: Here we go...

Since it is looking like a mirror reflection of the past, we might want to expect a little consolidation of 2-3 days.

By then, moving averages will do what is known as a death cross marking the return of the bear market.
Trade closed: target reached: If you went long the resistance was the area where to take profit.
It went so fast :( I closed at 9600 had no limit orders on.
Went all the way to 10400.


Daaaamn, it's as if... My strategy worked, and every one that criticized me when I made a call reversed, was a complete permabull sheep with lacking mental abilities not capable of understanding probabilities.


It can go either way from here as shown in those examples:

Those that follow my other ideas will recognize that GBPNZD one it's a winning trade I took recently. I don't win often but when I do :o

I would consider using the 4 hour EMAs for trailing stop, but here they are too far.
I would use 0.236ish.
I have a strong bias against Bitcoin so I am not running this one.
Also I don't really care because my Bitmex account is so small.

Do what you want.

Comments

draws lines to 0 an thinks he's a genius
+7 Reply
Arguments for Bitcoin value:

Where do I begin... the invention of the "Truth Machine", network effect, first to market, bad news is good news. We need to realize where we are as a species and how far we've come in the past 300 years; more so the past 100. We can't even take a piss anymore for a moment of privacy without being advertised to. Blockchain will refine this to an art. Blockchain will remove all of the gray, that we as a species, allow each other to retain and transact in. There will be only black and white, on or off, 0 or 1. Every transaction will be tracked. Every transaction will be compiled in order to better advertise and control us. State controls like Sesame Credits in China will further be tools to control the masses. Salaries and income will be paid in crypto. No more will suite cases of US dollar cash be traded for "whatever" . As a species, we will one day move past Bitcoin to a place where income, services, transactions are all ruining by way of mathematical algorithm protocols on 5G networks where time is irrelevant. Block-chain and artificial intelligence will control our environment, our food and energy supply. None of this is today. Today we need to embrace the value of "CENSORSHIP RESISTANCE VALUE" and adapt to the changes that will come. If it can be digitized... it will be... and VERY quickly. Only the fool believes currency will not be.

There are a select few cryptographic projects that currently have value as far as I can see. Regardless of how many layers, I don't believe Bitcoin will become the currency that will take over and be able to scale enough in order to absorb the scaling needed to cover the daily volume of global banking transactions let alone covering the scalability needed to cover debt, visa, and MasterCard transactions.(Even if everyone were to carry a jump drive node.) HOWEVER... I do believe bitcoin will become a store of value alongside GOLD as the technology evolves and governments embrace their own controlled digital assets.)

As a species, we'll be forced to live in a free market world. It won't come without first paying back, and things will be ugly over the next few decades. Balanced, per capita GDP will be realized in the coming decades and this insane, and rigged, global banking system will collapse. I've played good cop bad cop... devil's advocate.. and efforted to remove my own outcome desires in where I see value projects in the next 5 year window. I've read extensively on the pros and cons ... I can go into detail as to why Monero... and XRP may survive in spite of centralization and the lack of being able to conclusively audit XMR because of it's ring signature coding etc etc. I feel holding the following assets may just add to the help one may be able to offer their families and neighbors in the dark days to come. BTC, ETH, XMR, XRP, XLM, ZEC, RVN, LINK, NEO, GO, FTM .
+4 Reply
How Dare You? --- GRETA
+3 Reply
aconcept BlockchainYahoo
@BlockchainYahoo, I was thinking the same emotional stuff.
+2 Reply
Well, you can be right... but when you compare two absolutely different assets don't be angry if people won't take you serius. So Nokia was ponzi? What about Kodak? I though they ve just missed the invention or weren't able to value it properly... kodak with digital photography or nokia with smartphones. Or you thing the price was already in decision and the news were fabricated to fill their curve?

If 5% of China has the crypto. Who? Probably not the kids putting together iphones. So it's the richest and they want to cash out in coming 1-5, 5-10years? Trump election paid by Putin by Cambridge Analytics leads to trade war with sister China. We also know Russia favours crypto... Crude oil soon to be banned because of CO2, logistics shapeshifting because of CO2, energy industry as well. Currencies of biggest countries devalving, currencies of smallest settling their cryptos. Maybe it is short term, so it is ponzi and the right people cash out now. Or there is much bigger picture and ambition and right people buing to cash out much later.

So basically, you may be right but some macro things in the world telling me this may be much longer game and that money will be looking for new place to stay with.

Of course the mans greed is very strong and maybe nobody gives a f*ck about this planet dying here. If they think of themselves or their kids as last generation till source shortage it will probably play out as you tell. If the source shortage of this planet comes later, they are going to play this out a little longer, for future kids of their kids.
+2 Reply
why would anyone put so much time in doing this?
+2 Reply
What are you smoking, dude?
+2 Reply
Deception, Scams, Cheaters and liars in Crypto?? HOW DARE YOU GOOD SIR?
+2 Reply
" It will never reach 11k again " ... " this ponzi is over " ... " Nokia and sugar "....." death cross apocalypse " REKT !!! Bitcoin is an enigma. It's the honey badger of assets. Those who get it .. GET it. Those who don't... won't. Thanks for your bagZ !! Let's play again !!!
+1 Reply
MrRenev michro11
@michro11, You actually were not able to figure out the chart was inverted? Yikes XD
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