Hello traders, here's my point of view about BITCOIN . I'm bullish in the long-term. I see many people panic selling the head and shoulders However as you can see in the big perspective (Weekly time frame), price is about to test a massive area of demand . To be honest I will be looking to see how the price react in the 39000 mark Of course late buyers can suffer or panic sellers can suffer. if we see a massive drop due to to fear a nice and interesting attractive price is the bottom of the range , Let me know in the comment section
this is not a financial advise , it's just my point of view and should be taken as an educational purpose
Fortune Favors the Brave - Yet another sign that a mania is mature.
Hyperbole is a useful word to know. Meaning, “exaggerated statements or claims not meant to be taken literally,” an example would be something like, “That cat is the size of an elephant!.” Hyperbole is used when we want to emphasize a point, mainly because of our conviction and belief in the subject being stated, and when we are very excited. It’s no surprise, therefore, that hyperbolic language is found towards the end of manias...read more
Fortune Favors the Brave - Fifth wave (Ponzi scheme)
Bulls make money, bears make money, pigs get slaughtered. Remember, my goal is to stay in the game. The people who got wiped out by the crashes tended to be people who never took anything off the table, who never felt greedy, who got slaughtered by their own piggishness... read more
Looking for these illusory patterns and making a decision based on them is as good as looking in the stars' formation to decide what your destiny is...flipping a coin to decide a long or short position has much better chances to win a trade compared to this pattern B.S.
Now, if you are agitated by me exposing the ridiculous nature of these so-called "Technical Analyst's" scam/ignorance, go ahead and read a couple of pages of actual scientific research on this matter. As a bit of tip for your research, you can google this:
"Noise Trading and Illusory Correlations in U.S. Equity Markets "
AIRFOREXONE_
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@AhmadMostafavi5794, technical + fundamentals
bloodbound696
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I have been calling this a Diamond top. Simply because of how the weekly has closed like literally based off the candles, I do not think it qualifies as an H&S on the weekly but on a lower time frame where that giant bottom weekly wick is expressed in candles then yes. Its a full circle thing tbh but that's just me.