I spent a good deal of time today focusing on something I am decently good at.. reading human emotion, behaviors, etc.
After spending hours lurking various chats, communities, Twitter, (even evaluating my own sentiments and actions), etc...
I've come to the conclusion that we are very close or at the top here at this $24,800 - $24,900 area before a 25%+ selloff pullback within (and over) the next few days.
Disregard the previous prediction ideas as I will be playing this one until invalidated.
Order cancelled
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Invalidated. Back to the original two lol
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The last two recent ideas published right before this one is the one I was following for days, and returning back to:
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Whoa... made it to the Top Ideas lol. Comments are awesome as one could only imagine lmao, gotta love it.
Anywho... here's my reply. =) (also includes my trade log with the portion of my portfolio I swing trade with.. started with my one trade from yesterday 12/26/2020)
LOL. This is based off Twitter feeds? Ok. So the fact that Institutions are buying hand over fist and the TA chart shows we just broke out of a Bull Flag to new ATH and you want to call a short term top. WHY do people feel the need to call tops and the SHORT on top of that?? Yes price is overextended on Weekly chart and we are due for a pullback. But you must like getting your face ripped off if you call for a short here. Good luck with trade. Personally I think we get to 27k before any semblance of a reversal. But I would not be Shorting BTC. I may not BUY at this price and wait for retrace but I certainly would not SHORT.
dragon
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@eganon69, thanks for words.. Don't forget to comment on the last two recent posts that I was following since few days before Christmas that I made a killing on. Cut a small loss on this one as both shorts cancelled since I was correct on the XRP dumping. Luckily, XRP still in the buy zone from that original two charts and will get in before a 60%+ run up.
csk_dk
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@dragon, If you make three charts with all potential outcomes, of course you can say one of them was right. That's not analysis, that's unloading the clip hoping one hits.
Gunslinger2005
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@eganon69, wow the negative and asshole vibes from posters who don't like what you have to say are confirmation that this guy is right about sentiment. but since you are so confident let me tell you bout something a bit more reliable that actually sees 18k as a very real target. The developing yearly pivot is coming in at that level. and the last 7 years of btc price action have retraced immediately to the untested yearly pivot for 7 years in Q1. for both up and down. despite any news or futures market existing or not. So... that is something that has happened every year on btc. Trading against that is trading against its entire history and dare I say... on euphoria or hopium that this new Q1 will be the first year EVER. that it does not correct to the level. Food for thought
@eganon69, furthermore. lots of riches have been made in catching reversals and the market is your emotions verse other people's emotions. oftentimes the herd does not win. ever see people with longs from 3-4k? what do you think they were doing?? when 6k broke you ever see people with 16k+ shorts? I have.. guess what they were doing. They fact that everyone is scared to do something often times means there is an opportunity because the market tends to take more than it gives eventually. people calling for 100k or for a correction. Who are you to decide which or what trades people should post or take.
eganon69
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@Gunslinger2005, I never said BTC would not reverse or drop. I am no moonboy thinking it can only go up. I said that I disagreed with his analysis. Secondly, I said that price should get to at least 27k before any semblance of a pullback. And here we are price at 27500. I find it odd to post a SHORT position on a runaway train like BTC especially with all the Institutional buyers and recent bullish chart patterns. To post a SHORT here is quite reckless in my opinion rather than just saying not buying into a rally and expect a reversal to a new Buy Zone at 18k. Lastly, posting about a $2000 loss without even hitting a stop loss and saying he closed the trade "early"...shows he has little knowledge of position sizing and risk. He would have to be trading a 200k account to be risking 1% on this trade. I seriously doubt he has a real money 200k TRADING account. And I am not here for people to "follow". I am also not the one that posted 2 diametrically opposed trades on here one Long BTC and one Short. My point was why be calling for a top on a runaway train.? At least wait for a chart pattern to show signs of a reversal. He had none...only retail trader Twitter feeds. I also said he would get his face ripped off and he just about did. Someone "following" him would have been rekt as well. Good luck to all.
PalenTrade
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@eganon69, That is true. Some wise man said "trend is your friend". It is much harder to trade against the trend than with it. This make sense if you think about it. Try to sail against the wind.
I am starting to understand this better and better everyday
dragon
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@Gunslinger2005 thanks man.. I do appreciate that. I was wrong, this was bad indeed... but, I think my rights luckily carried bigger winners. You’re a rare one! I think out of 50+ comments, you’re literally the ONLY one to have said something positive, or even neutral...
dragon
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@csk_dk tis is true. Good thing there’s a shortage on ammo so I can shoot anymore lol