BTC - Looking at the bigger picture, time to meet with the 55ema
Hi there,
As the titel says, I think its time to zoom out from our 4hr charts and just be really realistic here. BTC has been in a downtrend since its ATH at 20k$ and the only thing I hear each single day is the that BTC couldnt possibly go lower than 7k blablablabla, guess what happened.
I thought it was time to look at the bigger picture and just to zoom out. This chart your seeing represents BTC monthly chart, and yes, it looks like its gonna drop even more, and if you want to have my guess ? It will.
Each rally need to retrace, and what is the ultimate support during those moments ? The 55 EMA (the blue line you see on the chart).
It wouldnt supprise me that BTC will retrace towards 3.1k like shown on the chart above.
Now that we have seen how manipulated this market is and will still be, I cant seem to understand how people can still think we will go up towards a new ATH soon.
My best bet ? Short position on BTC on a longterm scenario. Think of it as an long term investment, make money with a falling star, then go back and ride it again once it will bounce back up.
How am I quite sure this scenario could actually go through ?
If BTC falls under 6k shit will hit the fan and we will find our selves in a another huge FUD period.
And guess what will happen ?
A huge amount of people will sell their BTC so that others can pick them up at a lower price.
Isnt it all about that ? Scaring people by manipulating the price so that the bigger players can get something cheaper to make even more money out of it after ? If you still don't believe we live in a shitty world well its about damn time to open your eyes.
Thank me later for this super bearish warning.
BTW, call me a FUD spreader or a lunatic, but charts dont lie, money don't lie and neither do I.
Raw_Blitz out.
As the titel says, I think its time to zoom out from our 4hr charts and just be really realistic here. BTC has been in a downtrend since its ATH at 20k$ and the only thing I hear each single day is the that BTC couldnt possibly go lower than 7k blablablabla, guess what happened.
I thought it was time to look at the bigger picture and just to zoom out. This chart your seeing represents BTC monthly chart, and yes, it looks like its gonna drop even more, and if you want to have my guess ? It will.
Each rally need to retrace, and what is the ultimate support during those moments ? The 55 EMA (the blue line you see on the chart).
It wouldnt supprise me that BTC will retrace towards 3.1k like shown on the chart above.
Now that we have seen how manipulated this market is and will still be, I cant seem to understand how people can still think we will go up towards a new ATH soon.
My best bet ? Short position on BTC on a longterm scenario. Think of it as an long term investment, make money with a falling star, then go back and ride it again once it will bounce back up.
How am I quite sure this scenario could actually go through ?
If BTC falls under 6k shit will hit the fan and we will find our selves in a another huge FUD period.
And guess what will happen ?
A huge amount of people will sell their BTC so that others can pick them up at a lower price.
Isnt it all about that ? Scaring people by manipulating the price so that the bigger players can get something cheaper to make even more money out of it after ? If you still don't believe we live in a shitty world well its about damn time to open your eyes.
Thank me later for this super bearish warning.
BTW, call me a FUD spreader or a lunatic, but charts dont lie, money don't lie and neither do I.
Raw_Blitz out.
Comment:
Yep... BTC under 6k. Daily oversold rsi is still not reached. Be prepared.