BTC Bitcoin - CRASHING to $8,000 / Incoming FALL. Don't get caught up in the hype and euphoria. This is the most realistic scenario!
Trade active
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As expected it was taken above the previous ATH, so the news stories and break out and get the dumb money to buy in. Long trap in the making. My target is still valid.
@ich1baN, I'm afraid that's how the supply and demand works. There's still a big pocket to go down and reach for.
scousertommy
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In general though when you compare what happened when it dropped so steeply last time there was a lot of euphoria and even grandma wanted to buy bitcoin but this time if you notice , it did not go up there to ATH and fall down, it went again for it got rejected and over and over again it was constantly trying to break some major resistances , at 19k the retracement makes sense, if it retraces to 18k again well and good , until 16-16.5k retracement we are staying well bullish in the long run. When Btc fell heaven down to hell for some and the other way round for those who wanted to buy in there weren't so many institutions supporting it nor were the military mining it, now were govts thinking to invest in it, not were some other institutions buying huge amounts of btc eth ltc. The whole scene in general is growing rapidly, this is becoming more precious than gold and at some point in time more and more serious investors will want to jump in and the waiting time for your alts to mature and collect profit is halving, it's getting better, in 5 years time if we remain strong and do nothing stupid, we should all be happy and with no regrets about our investments in this. all the best to everyone.
JR-Trade-B
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@scousertommy, Yes, - it can still pop above ATH to make headlines, and give way more hope for others. There's a lot of dumb money waiting to buy it the minute it peaks past ATH.
However, I cannot see any crazy rocket taking off before it comes back down to the 8k level to scoop up that Supply/Demand pocket.
scousertommy
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@JR-Trade-B, I agree from a technical perspective but there are so many manoeuvers going on from underneath that sometimes TA does not paint the whole picture
JR-Trade-B
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@scousertommy, I totally agree my friend. 90%+ of my analysis is 'under the hood' supply and demand - as you can see the chart is completely naked price action like for all of my other analysis and ideas.
Yes, there isn't one golden set of tools that will paint the whole picture every time for every asset. There's no 100% certainty anywhere in this world. All I can do is rely on the positive statistical expectancy and probability based on the past analysis I've done, and that's all. The rest is in the hands of the outcome itself to prove me wrong or right. Don't worry, I'll be the first to admit I was wrong if it comes to that.
CringeCrypto
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Good analysis, totaly agree with you brother... this is not a healthy climb to 20k it doesnt feel right there has to be a caveat... i mean damn there is so much dumb money/moon boys with 0 investing knowledge and the fun part is a lot of them are delusional...they will literally flame you for saying things like dump is possible, might be the fact that they sold their house for bitcoin and wants straight line to the upside....hmm dotcom bubble all over again xD The ugly truth is people will get rekt if this actually happens and might leave crypto for good. WHICH MAKES it HIGHLY LIKELY. Dumb money and impatient traders 90% of them lose and right now there is too many of these silly boys/girls here.
Looking at the past.. bitcoin moves slowly years even with 30% drops before reaching ATH...then goes rapid breaks it.. reteast then parabolic to new ATH. This year was different it went parabolic from 10k without any drops. The only explaination i got was INSTITUTIONS ARE BUYING.. are you serious?? INSTITUTIONS WERE BUYING SINCE THE DUMP 2018... why did it dump? explain this it dumped twice from 20k to 6k-3k then 11k to 4k. call it covid dump or whatever people were dumping... nothing is impossible what is likely is institution wants your bitcoin at lower price and they have millions of bitcoin to dump :) dont forget that they made 5x from 4k to 19.8k in a year thats massive for billion hedgefund. DUMP IS COMING I CALLED IT SINCE SUMMER. People were saying 3k dump from 6k was impossible and look it did happen. Anyways now that i got this out of my chest :) cheers
JR-Trade-B
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@mohmoa91, And there you have it. News-breaking headlines have been made to suck in the frenzy money. Check out my latest analysis (attached to the related section of this one) of what's to come.
allyjo
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you were wrong!
JR-Trade-B
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@foreignEnthusiasm, Take it, easy brother, :D Read my comments throughout this post - I talked about the brek of ATH for the news braking headlines to suck in the frenzy money for a bull trap. The party isn't over. Don't get too excited, stay patient and wait. Will see you at 8k ;)