Since everyone expects a bull market as soon as we break the $10,000, I imagine the drop will come much sooner than expected. So I could very well imagine that the market is going to fool everyone like everytime. Therefore, you should take care very well. Again and again I read in the comments of 'Top Authors' that people will do the opposite of what they do. What is happening? It happens exactly the opposite. I do not want to talk bad to anyone, but many are very easily manipulated by the market. As a smart whale, you would do everything to be able to benefit yourself or right? That's why they do the opposite of what the crowd does and it works every time
At the end, I would like to say that this idea might be wrong. You decide in the end about what you do. This should only be a warning. It may be right or wrong. The market decides what happens.
Note: The red arrow only indicates the direction it could go if it's a fake out. As a result, there is no specific target, as we still do not know how far down it will go when this scenario is happening.
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By the way: It seems like the correction ist over. Everything look bullish.
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I just wanted to remind you of this idea:
Should we break $10,000, it would lead to much FOMO, so clever whales can sell their bags to you before it goes down very strong.
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As soon as others become bullish you should take care with your positions.
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Depending on the daily close the market could have a big drop another day.
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Expecting a drop to around 8400 should we break 9200/9100. Bitcoin doesn't look good and too many people are bullish but it is not rising.
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Should Bitcoin drop then alts will mostly follow. Bitcoin Cash could get under $1,400 but as soon as everyone gets bearish again and the longs died and shorts increased this will go and break $10,000.
Let me say this. I come to the trading ideas on tradingview to view what top authors say for cheap laughs and also as general guideline to view community sentiment so I can trade against what most are seeing. TA is not always down to plotting trend lines and fib charts but a psychological game that you need to view objectively.
You're the only analyst I've seen that simply views this the way smart money views this. If you can remember to be fearful when others are greedy and greedy when others are fearful, along with having general TA knowledge, you should do okay in these markets.
Hard to wrap my brain around how people invest on a wing and a prayer. Anyways. I've sort of rambled at this point. Keep up the good work.
EWHALE
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@mashford,
Exactly and this is why most supports and resistance do not hold as soon as everyone expects it.
EWHALE
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@EWHALE,
Smart people are there to benefit and you can only benefit if you do the opposite of others. It is impossible that everyone wins in this markets. A market has winner and loser. 99% of the time the poor people are the losers.
PiotrWoz
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Thank You EWHALE. i am so glad that trader E55 gave me the tipp about you. I like your ideas. keep it up. With your and others help isse trought the WHALEGAMES they playing :-)
You're the only analyst I've seen that simply views this the way smart money views this. If you can remember to be fearful when others are greedy and greedy when others are fearful, along with having general TA knowledge, you should do okay in these markets.
Hard to wrap my brain around how people invest on a wing and a prayer. Anyways. I've sort of rambled at this point. Keep up the good work.