I love doing those. Crypto is different, "true believers" are right, so we must adapt the wall street cheat sheet to it. Here is how it looks like adapted to crypto.
Keep a good eye on this trendline, that dates back to MtGox:
It will be at 6000-7000$ by the end of the year, so sooner or later we will have to test it. Bitcoin cannot stay stuck in complacency in the same area forever.
People sure do not like seeing things like this and when you tell them "You should be prepared for everything" they go like "oh yeah yeah I know it could go to 0" (well alot of people say that is impossible), but the people that say "I know it is risky" they so do not believe that.
Whenever people are persuaded something can not happen, IT ALWAYS ALWAYS ALWAYS happens. Time and time again this happens.
And when it does, what do they do? Panic. Surrender ("Germany will never attack through the ardennes").
No crypto hate idea for today, but I have the next 3 ones ready :p
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Top ideas on trading view this 26 / 08 are all saying "we go up" "Bitcoin bullish" with targets super high...
If I like this post, will it help your "EDUCATION"?
JohnnyKnowItAll
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lol
Amjadsid
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well as i see" monthly down wave time is more than a year little space left only few thousands : frm 4500$ price will again move up in wave B of weekly to 9-10k then final 2.5k-2k bottom
MrRenev
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@Amjadsid, Agree with that possibility except the word final.
Bobby_Petrino
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it's actually "REEEEEEEEEEEE" not "AAAAAAAAAAAAAH"
gamagg
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MrRenev, i also think crypto space is going to 0. But also i think its to early to do that. This could be their master plan to creat a new world cryptocurrency, but first they have to break down FIAT currencies. If you look at the crypto roadmaps, they are planning their implementation from 2019 to 2021 in general, so y think we'll see more complex correction in crypto, may be BTC with an WXYXZ, that is harder to analize. Then when everything is ready i think they will colpase the entire economy giving us just one option. Their own and only cryptocurrency created by the IMF. I think 2022-2023 could be the year when finally BTC will disappear. Crypto space has a lot of money that rich people keep getting richer squeezing everybody in their positions and if they want to implement blockchain technology they have to prove that it really works and its not a scam. Like BTC will be at the end.
UmairEjaz
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Short it 1000x leverage :P
verdes22
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Entertaining and thought provoking, but overly pessimistic