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

MrRenev Pro Updated   
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.

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.
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 ^^
Profit taking time. Dump on fomo suckers.
Should go back down.
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.
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.
Hard not to think this will work out...

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...
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.

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...
Price just consolidating below resistance reeeee

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

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".

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.
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.

Beware the drift of death.

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.
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.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.