The logic is in the price action, many people are already calling for the moon. It won't be that easy, I can assure you!
If you have followed along with our streams, you would have seen the Weis wave logic and the count as per the Elliott wave day ranges.
Here's the simplified logic showing the range of days.
If this isn't enough to give you some comfort, how about this? We have been making lower highs and lows since our ATH...
Don't get me wrong, I am not all doom and gloom - and for you perma bulls, I have been Bullish BTC Since 2011. But recognise the market sometimes needs a correction, I have written several posts on buying the dip and even a roadmap to our current location.
See the logic from the 18th of March as to why we were in distribution (related ideas) They blew up the rocket. This was the schematic in simple form. With current price action nearing it's low.
We also posted several educational pieces on the Wyckoff schematic. Click the image to take you to the post.
Above is the local schematic formed and this could easily fit the profile for a nice UTAD type move.
Composite man (Wyckoff related) is having a laugh and will play the games, until he is ready.
So whilst this might upset some Bulls, confuse some bears. The logic is there to help. It's been an interesting day today!
Trade safe!
Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Can We sue Binance for their BTC futures scam wick to 48k? A 15k move that started and ended in under 1min. How fair is that?
onosejun
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@Binzaydan, binance is the composite man, there is no way to sue them... especially in crypto market.
Slinkman
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Cant we do something about this? They have been getting away with crap like this for a decade now.
kevin69208
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@Binzaydan, So you want regulation for a decentralized system? I am neither for nor against it, but much of the hype is about how crypto is decentralized with no governing bodies. That means that anything can happen with no responsibility or recourse. Regulation is what prevents those outlier extremes from happening and gives recourse to those affected.
bzkoin
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We need to be patience with market action. So we make some profit and may lose less. Crypto exchanges works hands on with bankers, as usual broad daylight loot which not be sued at this time. May be in future, happens to legal action....
MPH_
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@Binzaydan, idk how to even respond to this
esorlegin
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All this (the whole crypto market thing) reminds me of smoke & mirrors, gossips in small towns. Curtains twitchers. Rumour mongers:
"A young house house wife answers the door to a well dressed man carrying a brief case.
The curtains twitch - beady eyes peer thru the windows, neighbours natter over the garden fence.
an hour goes by.
The man leaves and the neighbours see the young woman is smiling as she hugs him.
So, the gossip starts about an affair - tittle tattle, yabba yabba -- the unfounded rumour grows.
The young woman notices that she is getting strange looks.
Her husband comes homes (curtains twitch - all desperate to tell him the 'terrible news').
He gives his wife a hug and asks "How's your brother - did you have a good chat"?
DEAL IN FACTS - profit from rumour.
esorlegin
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@esorlegin, OH - forgot to say - GREAT WORK - all makes sense and is logical. Thank you boys.
bzkoin
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It's pump, started dump as usual. Exchanges make us FOMO, greed, impatience, then drain us. Composite Man buys at low. This cycle gonna forever. Possibly again downtrend...
Waltellar
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@Mayfair_Ventures , ha ha . not sure your TA charts will do the same job as sleeping pills , but the doctors could get some more work soon, considering some posts or comments that we've seen today.
at least your doing your best to help, as always