Be Aware Of THIS Scenario

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Be Aware Of THIS Scenario

Should we actually break down, which is very possible, then do not panic!
I see that in people who act emotionally, again and again.
You are selling, Bitcoin is actually going down $400-300 and you are thinking that it will fall more.
After a few hours you will see that the price is back above your selling price and that's how the clever people manage to reduce your money.
Mostly, you hope that the price will go down a bit more to buy at least at your retail price.
What is happening? The price goes up and up until you are forced to enter emotionally, just when you are in a correction again.

At my last Bitcoin idea you have seen that I am very uncertain about the current situation.
The question I asked myself was:

Scenario 1: Are we going up now?
Scenario 2: Are we going to make a bigger correction before going up?

Personally, I prefer the second scenario because it would 'kill' the longs again before it goes up.
But I think that the first scenario will happen, because it looks very much like a structure I know.
So, no matter what happens now, I assume that we will go up afterwards and people will be scared.

The market decides.

Note: I'm sorry that I upload this idea for the third time now. Had problems to show both scenarios in one idea to make it clearer.
Comment: I'm not very sure about that, but right now I'm looking at the first scenario with an ending diagonal at the end if you are interested.
Will continue to hold my Litecoin and Bitcoin Cash.

Comment: If it turns out that it's not an ending diagonal but part of a bear flag, then we should drop.
Could also run for a long time sideways again like before.
We do not know that at the moment.
It is the decision of the market.
Comment: After this down move Bitcoin should reverse back up and break $10,000 easily.
Comment: As I said before, all the bulls have become bears again.
Unfortunately, not enough longs have been closed so I think we will drop to around $9,100 /$8,800 if we break the bear flag.
Then most should get scared again and think we would drop even more.
Comment: Should we form an expanding flat I could also imagine a drop to around $8,500.
Comment: Very good bounce at around $9,200.


+3 Reply
EWHALE bgrandimbtc
I am saying that it is going up after any of these scenarios. Reading would help.
+1 Reply
BTC down to 9000 USD ,
BCH down to 1600/1500 USD

Thanks for ideas
+2 Reply
@EWHALE, thank you for your posts, i feel much safer in this market following you. One can quickly see what distinguishes you from others on tradingview. Thank you
+2 Reply
EWHALE BrettduPreez
Thank, nice to hear.
I think the possibility of s2 is better to be honest.we should make a small up b wave and then down to 9100. After that we break 10000. There is an upward channel in which btc is running and it will probably go to bottom again at around 9100. Just my thought.
+1 Reply
EWHALE BrettduPreez
Yes, this is also very possible. That is why I am unsure and do not say that the second scenario won't happen.
As I mentioned, it would make the bulls bearish again and scare them for the next upmove.
@EWHALE, i love this market. Up or down, always something exciting !
ninjethics_ESP BrettduPreez
+1 Reply
thanks lot for your updates,, if you have time plz take a look at ADA to BTC or USDT, thanks
+1 Reply
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