Why I keep saying that Bitcoin will have a MAJOR crash
Guys, this is a VERY long term view and a big picture of Bitcoin. The arrows represent price action and are not meant as a firm or exact time estimate.
I have said before numerous times, and will keep reiterating to the masses: STOP ACCUMULATING BITCOIN. DO NOT MORTGAGE YOUR HOUSE TO BUY BITCOIN. I am PROVING my long term outlook with volume, which is extremely important to understand. VOLUME does not lie. Volume is the INTENT of big buyers that control the market.
People keep crapping all over this, saying that I am an absolute idiot for not thinking that Bitcoin will go to a million dollars per Bitcoin because it has grown so much... Fact is, I don't care. If I can save one person their live's investment because they went in on the hype not realizing the reality of the situation, that's all I care about.
If you have any grasp of why volume is so important in trading, you should immediately be stunned by what is shaping up to happen on Bitcoin.
Analysis:
-Bitcoin actually broke BELOW a major trendline on November 2018 with high volume confirmation (bearish)
-Price broke the flag pattern in August of 2020 with EXTREMELY low volume (bearish)
-Price then broke out of ATH trading range on LOW VOLUME in August of 2020 (bearish)
-Price made a "double top" on the broken trendline (bearish)
-Price just made another "double top" on the local trading range and tried to push above it with LOW VOLUME (bearish)
If I am correctly seeing this, price should make a retrace all the way back to the first trendline it broke above with low volume, meaning the blue line in the flag pattern. This is apx around 6k to 7k... However, this is just the beginning. I expect the price to fall to the next major support around $1200...
Listen - a ton of you won't like this because it doesn't fit the narrarative that Bitcoin is better than gold, and inflation hedge this and hedge that, etc...
Volume based trading doesn't care about any of that. It just cares about MOTIVE and if the whales that steer this market agree with any kind of a move.
Here is the deal, these market makers are artificially inflating the price of Bitcoin so they can sell it for a crazy profit and dump everyone off. This is exactly what volume is proving to be the case. There is about to be an absolute bloodbath. Don't be the fish in the barrel all the rich people are collecting.
Seriously... Stop accumulating Bitcoin for the long run. You are about to be obliterated and left holding bags worth NOTHING. The institutions manipulating Bitcoin are about to get away with possibly the largest theft in human history.
I have said before numerous times, and will keep reiterating to the masses: STOP ACCUMULATING BITCOIN. DO NOT MORTGAGE YOUR HOUSE TO BUY BITCOIN. I am PROVING my long term outlook with volume, which is extremely important to understand. VOLUME does not lie. Volume is the INTENT of big buyers that control the market.
People keep crapping all over this, saying that I am an absolute idiot for not thinking that Bitcoin will go to a million dollars per Bitcoin because it has grown so much... Fact is, I don't care. If I can save one person their live's investment because they went in on the hype not realizing the reality of the situation, that's all I care about.
If you have any grasp of why volume is so important in trading, you should immediately be stunned by what is shaping up to happen on Bitcoin.
Analysis:
-Bitcoin actually broke BELOW a major trendline on November 2018 with high volume confirmation (bearish)
-Price broke the flag pattern in August of 2020 with EXTREMELY low volume (bearish)
-Price then broke out of ATH trading range on LOW VOLUME in August of 2020 (bearish)
-Price made a "double top" on the broken trendline (bearish)
-Price just made another "double top" on the local trading range and tried to push above it with LOW VOLUME (bearish)
If I am correctly seeing this, price should make a retrace all the way back to the first trendline it broke above with low volume, meaning the blue line in the flag pattern. This is apx around 6k to 7k... However, this is just the beginning. I expect the price to fall to the next major support around $1200...
Listen - a ton of you won't like this because it doesn't fit the narrarative that Bitcoin is better than gold, and inflation hedge this and hedge that, etc...
Volume based trading doesn't care about any of that. It just cares about MOTIVE and if the whales that steer this market agree with any kind of a move.
Here is the deal, these market makers are artificially inflating the price of Bitcoin so they can sell it for a crazy profit and dump everyone off. This is exactly what volume is proving to be the case. There is about to be an absolute bloodbath. Don't be the fish in the barrel all the rich people are collecting.
Seriously... Stop accumulating Bitcoin for the long run. You are about to be obliterated and left holding bags worth NOTHING. The institutions manipulating Bitcoin are about to get away with possibly the largest theft in human history.
Are you guys seeing that while price has made higher highs, OBV has not??? That it is diverging between price?