This weekly Pivot reversal Strat has had a success rate of 80 perrcent when making calls on the weekly chart. As you may have noticed when we got the first "Sell" signal of the bear market we actually got a relief rally shortly thereafter however it did not last. Just like in 2014 I do not think or any other rally is genuine. WE are (here) in the midst of a bear market and I think it is going to drag on until we get some real capitualion. What remains to be seen is will that capitulation look like a massive V bottom or will the capitulation be slow and long and boring? Anyways, just wnated to bring you guys this interesting little comparison I found during my endless hours staring at charts LOL
All the best,
Red Boar
P.S. Hope you guys liked my song reference in the title, lol, everytime we go down that song gets stuck in my head haha
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I have been looking at exchange volume here
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According to the 2014 fractal we could go as high as 12k in a massvie bull trap, It sounds crazy but that is what happened in 2014, however my bet is bulls are too weak to even do that. This entire pump has been an exchange manipulation pump there are no real buyers lol, anyways...just be aware we could pump as high as 12k before returning to the bear trend, I think it is unlikely but I did want to point out the fractal.
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What is so crazy is the ALT coins are doomed even more than bitcoin lol, I think I heard @tylerjenks say there were still 800 or so in the space? Jenks thinks that at most 5-10 will survive and that will be the only way bitcoin can recover and I tend to agree. I just wish I had the nerve to dabble in the illiquid alt markets, you guys that do have some cajones! I am mega bear on all coins so why am I not in the WORST OF THE WORST aka alts lol I think XRP is down like 8 percent today and btc only down 3...I would be rich. Anyways, whatever, I will stick to bitcoin.
:)
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XRP still falling lmao....oh this is hilarious
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TEEEMMMMBIRRRRRRR :)
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I didn't expect it to be THIS easy :) love you guys hope you are safe
If the money from the financial institutions enters, the price of about 3000$ makes sense,because the only way they to get involved is to buy very cheap. Thx for chart,excellent observation.
Vertigo88
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HAHA yeah, so many hours just looking at charts!!!! I have been looking at this as well. but with institutional money and maybe even the ETF things could move much faster than history shows.
Botzer
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Thank you, you made my day with your chart. The best joke of the month ;) Short please, short.
befunkt
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"I just wish I had the nerve to dabble in the illiquid alt markets, you guys that do have some cajones!"
...says the guy who trades leverage on BitMex. xD
TEXAGG22
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@befunkt, no sirrrr I am merely a teacher not a bitmexican :))) lol
Majed-al-Citadel
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what if it turns out to not be a massive 2014 bull trap?
TEXAGG22
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@rm-rfmcc, then i am moving to venezuela to live with the hombres pobres.