BITCOIN Thoughts_H1_Emotonial bull run memories and next levels
An objective and technical overview on Bitcoin, the disruptive currency bounced from 20.000 to near 5500 us dollars in the last seven months.
In December, i remember many people laughing about their profits, free analisys sharing, everybody was putting of their Wolf of Wall Street best memories, trying to Buy Buy Buy Buy since the margin will be near to zero.
After the "buy phase" (at the first price saw during your crypto-breakfast) with so much FOMO, the second common phase was HOLD, than HODL, LOHD,DHOL, and all the other acronim you want to use to define it.
The "HODL phase" is a strange and emotional based period created by the first participants in the crypto-market to push up the prices after the mainstreaming-phase.
The last investors come in the markets has obiuvlsly higher Entry Strike Price than the first , but during that period, on Dec-17/18,
they were expecting gains in the next future supported by the continuous rumors from "last minute analyst" who were trying to get referrals and generate (personal)wealth to speculate on the bubble-ending, giving ridicoulus target price such as 100.000 for the last of 2018.
It's easy to erase funds from people who don't understand the full process, nothing about techinal analisys, and return analisys (that for BTC were crazy),
it's infamous trying to get people involved into an asset that has performed near 10.000 times his first quotation in 2013, as well if it's rumoring a futures quoting in the regulamented market.....
Now that i've made this useless outburst i can focus on the important topic.
Technically, it's all in the chart, after the "Shouts of a 20.000 back" near 10.000 USD, the price has fallen levels below 6000 dollars drawing up a perfect bearish setup.
Now we're in a trading range as the Rectangle drew on the chart, i'm waiting for volatility and most of all LIQUIDITY to complete a Setup, at least above 7000 USD or below 5900 USD for the bearish continuation scenario.
PS:
the first related analisys has perfectly reached the levels forecasted months before
I'm not a magician, if you don't waste your time, and you try read some books it's quite easy.
In December, i remember many people laughing about their profits, free analisys sharing, everybody was putting of their Wolf of Wall Street best memories, trying to Buy Buy Buy Buy since the margin will be near to zero.
After the "buy phase" (at the first price saw during your crypto-breakfast) with so much FOMO, the second common phase was HOLD, than HODL, LOHD,DHOL, and all the other acronim you want to use to define it.
The "HODL phase" is a strange and emotional based period created by the first participants in the crypto-market to push up the prices after the mainstreaming-phase.
The last investors come in the markets has obiuvlsly higher Entry Strike Price than the first , but during that period, on Dec-17/18,
they were expecting gains in the next future supported by the continuous rumors from "last minute analyst" who were trying to get referrals and generate (personal)wealth to speculate on the bubble-ending, giving ridicoulus target price such as 100.000 for the last of 2018.
It's easy to erase funds from people who don't understand the full process, nothing about techinal analisys, and return analisys (that for BTC were crazy),
it's infamous trying to get people involved into an asset that has performed near 10.000 times his first quotation in 2013, as well if it's rumoring a futures quoting in the regulamented market.....
Now that i've made this useless outburst i can focus on the important topic.
Technically, it's all in the chart, after the "Shouts of a 20.000 back" near 10.000 USD, the price has fallen levels below 6000 dollars drawing up a perfect bearish setup.
Now we're in a trading range as the Rectangle drew on the chart, i'm waiting for volatility and most of all LIQUIDITY to complete a Setup, at least above 7000 USD or below 5900 USD for the bearish continuation scenario.
PS:
the first related analisys has perfectly reached the levels forecasted months before
I'm not a magician, if you don't waste your time, and you try read some books it's quite easy.
Comment:
HUGE TARGET! 15%!!!!!!!!!!
