Daily crypto hate: the end is nigh. for BITFINEX:BTCUSD by MrRenev

Without entering in too much detail (check my previous ideas), I think (personal opinion, not financial advice :p) that this is FINALLY it.
Complacency lasted 6 boring months.

But it is over, the dump is now IMMINENT.

We waited a long time, so now it should be easy to wait a little longer, look at 1 hour charts and enter when there is a "signal" to (I am already short for a small amount at 7100$ because after all the waiting I did I do not want to miss it, but for the major part I am waiting).

Brace yourselves for the fireworks, it will be bloody...

I will update this idea as Bitcoin moves.

In hundreds of years there has never been a big bull run after a 10 days long bottom right after an 8 months bear market.
But does not mean there can not be a bull trap.

We do not risk a short squeeze thought, so I think a bull trap is next to impossible:

A couple reasons:

1)

Daily crypto hate. If I could bet on BTC going down I would.

2) Intuition
3) Shorts got eliminated
4) Weekly moving averages (MA20 is at 7400)
5) News are bullish...
6)
7) Intuition
8) NO ONE IS EXPECTING IT!

Let me screenshot the top ideas for crypto this 1 September for history:

So, unless I missed someone, in all these ideas there are only 3 people that say we're going down:
- DCFreak, no wonder, he is really good, shame he rarely posts (crypto does not do much thought)
- My man texagg
- Me

Comment:

Summary: This huge wall of text is just to say that famous big crash days almost always happen in october or september, and it is possible they are often started by a single sell order or decision.

1987 black monday was cause by ONE ORDER (probably).

Gold fall, after almost 2 years of complacency "that is clearly the bottom" was sudden and again, a single big seller.

It does not always happen like this, but sometimes it does. I think quite often the longer it takes the more brutal it gets XD

2008, bullish divergence on the daily confirming a bottom.

Your divergence looks good when big funds decide it is time to sell :)

These things sure often happen in october. What's up bulls? Depressed when autumn starts? hehehe

Correct me if I am wrong:
- Kipper und Wipper (1623): Holy Roman Empire financial crisis XD - I do not know what month the worse crash happened :(
- Tulip Mania (1637): Feb to May
- The Mississippi Bubble (1720): The bubble burst at the end of the year (so autumn).
- South Sea Bubble of 1720: I do not know, but the top was reached in August.
- Bengal Bubble of 1769: ???
- Credit crisis of 1772: Second half of the year, I do not know exactly when but I think it is possible to find out.
- Panic of 1792: March-April
- Panic of 1796–97: ???
- Panic of 1819: Hard to tell.
- Panic of 1825: December
- Panic of 1837: I don't know.
- Panic of 1847 (railway mania, low yield bonds every one euphoric, the usual): Spread out I do not know for sure. Looks like historians do not care much about dates :)
- Panic of 1857: August-September, I think.
- Panic of 1866: I am so tired of checking XD
- Black Friday 1869: 24 Sep 1869. Clear, precise, I only have to copy-paste, peeeer-fect!
- Panic of 1873: 9 May 1873
- Panic of 1884: May
- Panic of 1893
- Panic of 1896
- Panic of 1901: May
- Panic of 1907: OCTOBER
- 1929 Black Thursday: OCTOBER
...
- Flash Crash of 1962: May
- 1973-74 stock market crash: spread out
- Souk Al-Manakh stock market crash (1982): I THINK the bubble popped in september/OCTOBER*
- Black monday (1987): OCTOBER
- Friday the 13th (1989) mini-crash: 13 Oct 1989
- 1990 recession: July-oct
- Black Wednesday: 16 Sept 1992
- October 27, 1997, mini-crash 27 Oct 1997
etc

* "By September 1982, the Ministry of Finance ordered all dubious checks to be turned in for clearance, tallying the value of worthless checks at $91 billion. (5) The final result of the world’s greatest speculative mania was a loss equivalent to $90,000 for every Kuwait man, woman and child (3) and commerce slowing to a trickle.Soon after, Kuwait’s government shut down the Souk al-Manakh, built a new stock exchange and started over again."

So anyway, alot of these crashes are spread out, but most of these famous "black days" in the western world are from september/october.

Trade active:

Short for 4000$ @ 7150$ with a liq price of 7900$
If we go up there I will double or triple up.

This is not very much, I am getting excited should I send funds back into crypto now that we are so close to a move? XD

To be fair I can make more with forex trading small moves every day, so it is not even worth it.

Gosh I have a hard time restraining I just want to send half a brick and short for 1 million dollar. Imagine, if I close that at 3000$ I made more than half a mil :o

Bah whatever let's take it one step at a time for now.

Comment:

"Bitfinex went “down” exactly when CME futures expired today.

It’s if as though they think people have the IQ of two carrots and a potato.

We can all see you time your bullshit downtime for critical moments.
"
@Bitfinex2 "Bitfinex Parody"

So this guy thinks "crypto true believers" do not have the IQ of two carrots and a potato.
Well I have news for him....

;) :D

Comment:

Remember how Bitcoinnect always moves in vertical candles?

How it is moving now looks nothing like its usual moves.

This reminds me of something...

BITCOINNNNNEEEEEEEECT!

Comment:

At key level right now!
Not looking good for Bitcoinnect.

If it dumps I will TP so I can short more when/if it goes back up.

Comment:

Everyone is just "waiting" to "see what it does".

Comment:

Clean rejection of the MA20. To the very dollar.
Should I call myself a legend if this is the top and I called it TO THE VERY DOLLAR?

Looking at other of these little double tops.
So in 1929 it made a slightly higher high, but lately lower highs.
We need to look at more examples and can't assume anything.

What if THIS is the little double top?

There is something up...

Comment:

I hope we go up tbh.
I lowered my leverage & I will have a liquidation price somewhere around 8660.
If it goes up there to 8500 or even beyond I will short MOAR.

If we go past 9000 well screw it I will lose a few hundreds that I will make back in 1 day trading FX :p

Comment:

WTF man.
Did Georges Soros just get very angry and yell at his screen "SHORT IT TO THE GROUND!" <---- I do that all the time :)

Comment:

While some analysts believe there’s a “serious chance” bitcoin could drop below the $3,000 mark in the near future, hedge fund manager Mark Yusko has recently slammed the cryptocurrency’s critics, as he claimed cryptos will be the “biggest asset” in the next decade.

CME Bitcoin Futures Volume Doubles

Global Bitcoin ATM Market to be Worth $145 Million by 2023: Report

Max Keiser Says $28,000 Bitcoin is Still in Play
(+ Many other people making ath calls being mentionned in the news)

The Ledger: Revenge of the Bitcoin Believers

The maximalists can again crow Bitcoin is like honey badger. The currency has run a gauntlet of perils—from forks to exchange hacks to alt-coin competitors—and emerged even stronger. Have a great long weekend, everyone.
(7000$ with tansaction fees higher than the transactions themselves is even stronger?)

BITCOIN IS ON ITS WAY TO BECOMING A MAINSTREAM CURRENCY, STUDY SUGGESTS

Bitcoin Survey Suggests Bright Future For Cryptocurrency

ANYTHING BESIDES BITCOIN IS ‘USELESS’ – TONE VAYS AND NOURIEL ROUBINI SQUARE OFF

Bitcoin Price Loses 10% In August But Long-Term Bottom May Be In

Analyst Says Bitcoin More Stable Due to Wall Street

Econometric Models Put Bitcoin’s ‘Intrinsic Value’ between $1,080 and $8,778

Bitcoin To $96,000, XRP To $0.01 By 2023, ICO Advisor Satis Group Estimates

You know what that means :)

And no, I did not cherry pick the ath calls ones.

Btw, looks like Forbes is even more trash than CNBC :D

Comment:

Not this BS again...

Ok going to stay away now, no point looking at BTC unless it goes to its next level 8300$ or below 6600. That is what the next move should be.

Comment:

More divergence, more signs a top is soon in.

What I would love is for BTC to drop to 6600$, I take profit there to be safe and have more funds to short more of it, then it goes up again and then the big drop.

One can dream.

Comment:

Top experts explaining to us how short sellers are going to get destroyed in this high quality news article.

"As $100M in Tether (USDT) Goes to Bitfinex, CNBC’s ‘Crypto Trader’ Predicts Bitcoin Shorts ‘Will Get REKT’"

Comment:

Bitcoin dumped in the first take profit area. A good idea to reduce that position size.
If it goes up I will have more funds to short it at a higher price :)

Got a slightly different count than this idea chart.

Daily crypto hate: the end is nigh.

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