[BTC] THE GREAT BITCOIN FINALE! PART 7 - THE 1 DAY BIRD VIEW
Hello everybody!
I'm a little high on my lovely ADD medication so now I spotted what I should have talked about in my prior publishing earlier today that ended up in a Lesson in Whale thinking & Strategies. ( My brain enters a higher state / its full potential with the help of my medication)
We are looking at BTC/USDT ofc as always. Bitstamp because it got the longest chart history with BTC.
I poped my EMA indicators with "SMA" "Prediction lines" and saw that the EMA 21 and 55 is going to form what I just named a "Half Death-Cross" on the daily timeframe.
That historically results in a 20 to 60% dump afterwards ( can take 1-2 weeks to reach the bottom of the drop and a delay on the dump by days from the cross happening ) So a nice delayed or instant 20-60% dump! What margin shoter dont live for this kind of fun trades? I for sure do. The big moves up and down are those we remember forever! Even more so those we manage to profit from!
So you could also call it a "GG" cross, or whatever. The real Death-Cross (EMA 55 and EMA 200) is not something you want to trade/wait for with bitcoin because then the dump already happened! And the profit is gone.
So the real "Death-Cross" with bitcoin IS EMA 21 and EMA 55!
Also the one you should buy when they "Silver-Cross" at the bottom of a bear market funny enough! Historically!
Everything (often) is upside-down with Bitcoin. But that info should not be new if you have been in crypto since 2017 or longer.
- So if BTC drops below EMA 55/21 and closes below, it most likely is over. The exception is support at EMA 200 and another fake move/pump/test at the EMA 55 & EMA 21 on the daily timeframe. And if it ends in a rejection for the xxx'th time then we can say it is finally over when BTC drops below under EMA 200 as a result of the FINAL rejection. But by then the best trade/trades have been missed - remember that. We should see a 30% + drop the day the EMA 200 breaks/is passed.
Due to the historically low volatility that you can see with the correct indicators, it is highly possible that the drop will be huge. Like a 30% ++ move. Likely bigger than what we saw Q1 2020 March (corona dump). And in my mind it is logical that BTC wont find support at 3800 ish a second time after this epic failed rally on top of a economic crisis/pandemic that failed to make Bitcoin do what it was invented for/the bitcoin maximalists say it was inventred for. To make them rich, 50k, 100k, 1 million a bitcoin. World Currency. It kinda already is because it is borderless :)
Side note: No matter if the BTC price is 1000 usd or 100.000 usd then in my head BTC have been/is a huge success considering it is just a "beta" product. "The first generation" "a silly idea" - Technology always get outdated historically. And the non-paid few developers BTC got dont got a chance with the bad coding (spaghetti code) that satshoti handed them. To keep up with the competition. They use more time and energy on not causing more inflations bug I suspect. Such a bug that get abused WILL make BTC go extremely fast close to 0. And confidence in BTC will N.E.V.E.R be restored.
Thanks for reading and please leave a positive comment - of any kind, if you liked my review/analysis/ramblings of the BTC situation.
- Negativity is the enemy, it corrupts the soul.
Best regards
Confucius-The-Great
I'm a little high on my lovely ADD medication so now I spotted what I should have talked about in my prior publishing earlier today that ended up in a Lesson in Whale thinking & Strategies. ( My brain enters a higher state / its full potential with the help of my medication)
We are looking at BTC/USDT ofc as always. Bitstamp because it got the longest chart history with BTC.
I poped my EMA indicators with "SMA" "Prediction lines" and saw that the EMA 21 and 55 is going to form what I just named a "Half Death-Cross" on the daily timeframe.
That historically results in a 20 to 60% dump afterwards ( can take 1-2 weeks to reach the bottom of the drop and a delay on the dump by days from the cross happening ) So a nice delayed or instant 20-60% dump! What margin shoter dont live for this kind of fun trades? I for sure do. The big moves up and down are those we remember forever! Even more so those we manage to profit from!
So you could also call it a "GG" cross, or whatever. The real Death-Cross (EMA 55 and EMA 200) is not something you want to trade/wait for with bitcoin because then the dump already happened! And the profit is gone.
So the real "Death-Cross" with bitcoin IS EMA 21 and EMA 55!
Also the one you should buy when they "Silver-Cross" at the bottom of a bear market funny enough! Historically!
Everything (often) is upside-down with Bitcoin. But that info should not be new if you have been in crypto since 2017 or longer.
- So if BTC drops below EMA 55/21 and closes below, it most likely is over. The exception is support at EMA 200 and another fake move/pump/test at the EMA 55 & EMA 21 on the daily timeframe. And if it ends in a rejection for the xxx'th time then we can say it is finally over when BTC drops below under EMA 200 as a result of the FINAL rejection. But by then the best trade/trades have been missed - remember that. We should see a 30% + drop the day the EMA 200 breaks/is passed.
Due to the historically low volatility that you can see with the correct indicators, it is highly possible that the drop will be huge. Like a 30% ++ move. Likely bigger than what we saw Q1 2020 March (corona dump). And in my mind it is logical that BTC wont find support at 3800 ish a second time after this epic failed rally on top of a economic crisis/pandemic that failed to make Bitcoin do what it was invented for/the bitcoin maximalists say it was inventred for. To make them rich, 50k, 100k, 1 million a bitcoin. World Currency. It kinda already is because it is borderless :)
Side note: No matter if the BTC price is 1000 usd or 100.000 usd then in my head BTC have been/is a huge success considering it is just a "beta" product. "The first generation" "a silly idea" - Technology always get outdated historically. And the non-paid few developers BTC got dont got a chance with the bad coding (spaghetti code) that satshoti handed them. To keep up with the competition. They use more time and energy on not causing more inflations bug I suspect. Such a bug that get abused WILL make BTC go extremely fast close to 0. And confidence in BTC will N.E.V.E.R be restored.
Thanks for reading and please leave a positive comment - of any kind, if you liked my review/analysis/ramblings of the BTC situation.
- Negativity is the enemy, it corrupts the soul.
Best regards
Confucius-The-Great