Stop being bullish - The Crash is coming

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
There won't be an inverse head and shoulders ... I can't see this ideas anymore. We are in a clear downtrend.

This will go down at least to the 2nd support. Therefore, it will either be a bigger ABC correction or we'll drop very hard one last time.
Okay... a drop to $8000 area is also a strong drop.

Nevertheless, I still see a high chance that we will test or break the $6000
- mark my words.

But until I have no signs I will not post anything about it.

Good luck :)
Comment: User AJWOOD:
''I saw an inevitable drop on it's way, but I sure didn't expect it to hit so dang fast! ''

I expected it. There is a huge amount of long position right now. Last days it increased very strong because of the expected inverse head and shoulders or whatever...

The more long positions there are, the harder the drop will be. It will be interesting to see if people close their positions or not. Because if not then it can go very far down.
And it will keep going until retest 6k...
E55 lemosedmirf
@lemosedmirf, This is also what I think right now.
No issue with the idea and possible targets. Nothing unexpected here that cannot be backed up with technical analysis. Likely coorection to 8000-8400. Possible 5000-6000. These possibilities have been on the cards for the past 1-2 months. I do have an issue with the dramatics. Why the labels "bull trap" and "crash."? For a change let us know when the bull market is returning. Or is bitcoin dying (yet again)?
+1 Reply
katyusha woldon
@woldon, It's not so much about "dying" but more about rollercoaster rides, nothing "dramatic" about terms like bulltrap or beartrap
woldon katyusha
@katyusha, as you say probably not. In that case have we just dipped into a bear trap!?
Oh yea this is going to 500. Sarcasm.
wow e55 possibly now you have a chance at a correct analysis....you have been projecting short since 6500..gl to your folowers
I expected this drop. It was inevitable, You could check the way I discovered it. I am on Your side, @E55
+1 Reply
Make more chart and keep BTC growing up, pls. E55 is the best one on tradingview who want to short BTC from 6k to 10k and fail LOL. The true king E55 is returned to keep the market up. Thank you and love you so much! :D
+1 Reply
What about your $2000 btc your calling lol
+1 Reply
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