This is how the next weeks will play out, final drop yet to come
Wow, what a drop that was the last days. INSANE. It took me also by surprise I have to admit, the sheer intensity of it, and that we actually exactly hit the longterm support line.
Yesterday we had no bounce at all, and I was worried that we'll actually go below 4k, directly to 3k, which would have been very bad for BTC, it would have lead to a more intense bearmarket with lows of even 1200 in 2019,
dragging into 2020. Ugly.
However, it seems now that we're finally bouncing.
A few things are pointing towards that:
1. Bitfinex Shorts went up like crazy, and are above longs now: This is one of the best contrarian indicators I know of, because BTC often does the exact opposite of what most people are thinking.
That's why I think that the chances that we'll creep upwards to almost 6k again in the next weeks are high.
2. Daily RSI is insanely low. THE LOWES ON RECORD TO DATE ! Sick stuff o_O
So, a bounce is highly likely, BTC is like a coil, when stretched too long, it will bounce back with force.
3. Daily stoch RSI on oversold, looking like turnaround: Daily stoch RSI, likes to go from overbought to oversold and back and forth in cycles.
This means that we'll probably see it going upwards from here the next days.
Summa sumarum:
We'll see it bouncing from here, since after all, we hit an important trendline, and as we all know, people looooooooove those lines XD.
We'll continue to climb for the next days, and creep above the trendline for the next weeks, looking as if the trendline will hold, which of course it won't, as we here are smart and know that trendlines
don't count a lot for longterm BTC growth.
Then finally the "shakeout ultima" in january-march, maybe as late as march, hard to point out a timeframe, but certainly Q1 2019, with our low at 2600 USD.
This analysis is only valid if we bounce today and the next days.
If we do so, we can continue to play our playbook back from earlier this year, when it first cristallized that BTC will do a bearmarket.
I'll send my funds to Kraken, Bitstamp, etc. in January and wait for that final drop, and then I'll buy like a crazy bastard.
I don't advise you to do the same, I can just tell you rationally what I'll certainly do.
The next weeks will be crucial for everyone who has the goal to make some real cash with the next megabull cycle in 2020-2021/22.
Be prepared. Stay focused. Play the playbook :)
Good luck to you all !
Yesterday we had no bounce at all, and I was worried that we'll actually go below 4k, directly to 3k, which would have been very bad for BTC, it would have lead to a more intense bearmarket with lows of even 1200 in 2019,
dragging into 2020. Ugly.
However, it seems now that we're finally bouncing.
A few things are pointing towards that:
1. Bitfinex Shorts went up like crazy, and are above longs now: This is one of the best contrarian indicators I know of, because BTC often does the exact opposite of what most people are thinking.
That's why I think that the chances that we'll creep upwards to almost 6k again in the next weeks are high.
2. Daily RSI is insanely low. THE LOWES ON RECORD TO DATE ! Sick stuff o_O
So, a bounce is highly likely, BTC is like a coil, when stretched too long, it will bounce back with force.
3. Daily stoch RSI on oversold, looking like turnaround: Daily stoch RSI, likes to go from overbought to oversold and back and forth in cycles.
This means that we'll probably see it going upwards from here the next days.
Summa sumarum:
We'll see it bouncing from here, since after all, we hit an important trendline, and as we all know, people looooooooove those lines XD.
We'll continue to climb for the next days, and creep above the trendline for the next weeks, looking as if the trendline will hold, which of course it won't, as we here are smart and know that trendlines
don't count a lot for longterm BTC growth.
Then finally the "shakeout ultima" in january-march, maybe as late as march, hard to point out a timeframe, but certainly Q1 2019, with our low at 2600 USD.
This analysis is only valid if we bounce today and the next days.
If we do so, we can continue to play our playbook back from earlier this year, when it first cristallized that BTC will do a bearmarket.
I'll send my funds to Kraken, Bitstamp, etc. in January and wait for that final drop, and then I'll buy like a crazy bastard.
I don't advise you to do the same, I can just tell you rationally what I'll certainly do.
The next weeks will be crucial for everyone who has the goal to make some real cash with the next megabull cycle in 2020-2021/22.
Be prepared. Stay focused. Play the playbook :)
Good luck to you all !
Comment:
This looks weak again. WEAK WEAK WEAK. BTC, you're disappointing me! I expected a stronger bounce here, but somehow this looks more like a bearflag. If indeed BTC does another dump wave here to 3k, I'll have to change my longterm prediction also, as sad as I am. We need to push in direction of 5k today, or else we'll really go to 3k in this dump, and who knows how low in the final one :/