Preparing for the best and the worst: massive Btc bull trap ?
I am becoming more and more pessimistic about this market: 50% bottom is in, 50% might revisit 3k and even hit slightly lower 3k.
-the bottom is not clear yet with such a parabolic pattern
-the parabola is unsustainable in my opinion, and went too high for the proper start of a bull market
-the parabola is too close from the 1st parabola to create a sustainable uptrend (large marketcap)
-crypto market bottom happening after only 1 year of bear market is unlikely
-lots of 2017 retail/frenzy speculators are still around if not the majority
-accumulation does not happen when the herd is still around
-social networks, twitter, youtube full of frenzy speculators and hope moonboys, still a lot of views to dumb youtubers with very positive delusionnal comments
-the majority of the present herd seems conviced the bottom is in
-prolonged bear market invalid if Bitcoin closes 1-several weeks above 13k
Conclusion: i do believe that this massive parabolic raise is bullshit, and not trustable. I could be wrong of course.
I am prepared for 100k, and for sub 3k. I would be happy in both cases.
Nota: If this move is a massive bull trap, it probably happened partly because of the descending triangle from the 6k to the 3k:
The fall was so brutal that people became almost certain the bottom was in ("max pain drop from 6k to 3k, it can't be worse" psychological hit), which incited the herd to use over large positions of their portfolio to buy Bitcoin and Altcoins as soon as they spotted the 1st April squeeze.
Some 50-50 to me, i would not be surprised if Bitcoin goes to 50k from here, but i won't be surprised if Bitcoin goes sub 3k.
Have a plan in case the Bitcoin bear market lasts 1 more year (halving next year), and in case 95% of alts remain in a bear market for the next 2-3 years, it is a possibility to consider unfortunately.
I am ready to take some "you are stupid dude, bottom is here, it's a this is a sucker's rally part and you are in disbelief hahaha noon gfy" in the face for posting such a TA.
Take care.
-the bottom is not clear yet with such a parabolic pattern
-the parabola is unsustainable in my opinion, and went too high for the proper start of a bull market
-the parabola is too close from the 1st parabola to create a sustainable uptrend (large marketcap)
-crypto market bottom happening after only 1 year of bear market is unlikely
-lots of 2017 retail/frenzy speculators are still around if not the majority
-accumulation does not happen when the herd is still around
-social networks, twitter, youtube full of frenzy speculators and hope moonboys, still a lot of views to dumb youtubers with very positive delusionnal comments
-the majority of the present herd seems conviced the bottom is in
-prolonged bear market invalid if Bitcoin closes 1-several weeks above 13k
Conclusion: i do believe that this massive parabolic raise is bullshit, and not trustable. I could be wrong of course.
I am prepared for 100k, and for sub 3k. I would be happy in both cases.
Nota: If this move is a massive bull trap, it probably happened partly because of the descending triangle from the 6k to the 3k:
The fall was so brutal that people became almost certain the bottom was in ("max pain drop from 6k to 3k, it can't be worse" psychological hit), which incited the herd to use over large positions of their portfolio to buy Bitcoin and Altcoins as soon as they spotted the 1st April squeeze.
Some 50-50 to me, i would not be surprised if Bitcoin goes to 50k from here, but i won't be surprised if Bitcoin goes sub 3k.
Have a plan in case the Bitcoin bear market lasts 1 more year (halving next year), and in case 95% of alts remain in a bear market for the next 2-3 years, it is a possibility to consider unfortunately.
I am ready to take some "you are stupid dude, bottom is here, it's a this is a sucker's rally part and you are in disbelief hahaha noon gfy" in the face for posting such a TA.
Take care.