BTC - 17 June 2019 - Comparing Bitcoin with Nikkei
I know I had been wrong for the last 2 months about calling short all the time. However the reason for this is not because I want market to crash. It is because that something is really wrong about this market.
I have been checking the ideas on TV today and found a really nice quote from the Elliott Wave Principle: Key to Market Behavior, Robert Prechter written on an analysis of great analyst dRends35. I think I have also seen this quote on stevepuri s analysis back in 2018. Anyway here is the quote.
"B waves — B waves are phonies. They are sucker plays, bull traps, speculators' paradise, orgies of oddlotter mentality or expressions of dumb institutional complacency (or both). They often involve a focus on a narrow list of stocks, are often 'unconfirmed' by other averages, are rarely technically strong, and are virtually always doomed to complete retracement by c-wave. If the analyst can easily say to himself, 'there is something wrong with this market', chances are it's a b-wave."
Something is really wrong about this bull market, dont get me wrong, as I said earlier I want bull to come more than anyone. But somehow, I cannot believe that this is the bull we have been waiting for. Okay I agree that there is hype, public attention and FOMO going on, but this feels a little bit fake and over manipulated. The volume is not still convincing and we did not even seen a DISBELIEF yet.
This is the most important part, we did not see any disbelief in this bear market! How come everyone turned ultimate bulls? Or maybe I am the only one in the disbelief season.
Anyway, I see that Nikkei actions back in 2007 are really similar to Bitcoin s current "bull run".
This wave is rather a huge B or a huge W which will crash everyone down WHETHER IT TURNS DOWN FROM HERE OR EVEN 13K!
Be really careful.
I said that I would be bull if we go above 7k s but this was not the rise type that I was expecting, I was expecting a nice ride with nice retracements, I mean a HEALTHY grow...
Good luck everyone, always use mental or physical stop loss.
I have been checking the ideas on TV today and found a really nice quote from the Elliott Wave Principle: Key to Market Behavior, Robert Prechter written on an analysis of great analyst dRends35. I think I have also seen this quote on stevepuri s analysis back in 2018. Anyway here is the quote.
"B waves — B waves are phonies. They are sucker plays, bull traps, speculators' paradise, orgies of oddlotter mentality or expressions of dumb institutional complacency (or both). They often involve a focus on a narrow list of stocks, are often 'unconfirmed' by other averages, are rarely technically strong, and are virtually always doomed to complete retracement by c-wave. If the analyst can easily say to himself, 'there is something wrong with this market', chances are it's a b-wave."
Something is really wrong about this bull market, dont get me wrong, as I said earlier I want bull to come more than anyone. But somehow, I cannot believe that this is the bull we have been waiting for. Okay I agree that there is hype, public attention and FOMO going on, but this feels a little bit fake and over manipulated. The volume is not still convincing and we did not even seen a DISBELIEF yet.
This is the most important part, we did not see any disbelief in this bear market! How come everyone turned ultimate bulls? Or maybe I am the only one in the disbelief season.
Anyway, I see that Nikkei actions back in 2007 are really similar to Bitcoin s current "bull run".
This wave is rather a huge B or a huge W which will crash everyone down WHETHER IT TURNS DOWN FROM HERE OR EVEN 13K!
Be really careful.
I said that I would be bull if we go above 7k s but this was not the rise type that I was expecting, I was expecting a nice ride with nice retracements, I mean a HEALTHY grow...
Good luck everyone, always use mental or physical stop loss.
Comment:
The crash is going to be worse than we all expected. July - September 2019 will be the worst time of the bitcoin history... got some crypto but mostly in fiat.