mc_peewee
Long

The bull count that has bears NERVOUS

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
For being an out-of-position bear, this makes me incredibly nervous.
Since the massive fall we experienced that brought us down to $3.1k, I've had this funny feeling, really funny feeling that the whales would have one last trick up their sleeve prior to Bitcoin experiencing its next bullrun.
Here you go:


I've been extremely bull lately, because I've been seeing things that are out of the ordinary for Bitcoin .
Especially considering the severe divergence on the daily, yet we've had 2 days to drop and we haven't yet.
Aside from that, the one thing that has stood out to me like a sore thumb is the premium on Finex.
WHY is there still a premium? I've gone back and forth in my own head about it so much I'm starting to go crazy.

Accumulation.

While people were panic exiting tether, whales were scooping it up on the low while selling their Bitcoin for top prices.
A LOT of Tether was used in that pump. A LOT. So, my best guess is that they are accumulating with said cheap Tether they accumulated.
Why? Usually it's to dump on us, right?

Then we see longs having SKYROCKETED, by almost 10k BTC as we were close to finishing the drop. Yet we're still printing a FAT bullflag in longs, even though the price has continued to slowly fall.

To top all this off, the bull count right now for Bitcoin shows we would be breaking out of the bearish pennant , with a re-test of the pennant for a 4th wave. Past that, the sky is the limit.
Considering how well these fibs line up, I am very nervous.

Imagine how many people are waiting right now for cheaper prices.
Imagine how many people sold their Bitcoin already, waiting on the 200 MA alone.
Imagine how many people are going to end up FOMO'ing if we create a higher high for the first time in over a year, meaning they'll have to pay A LOT more money for the Bitcoin they sold in the first place.

Something isn't lining up. This market loves to do the unexpected.
Right now, with how many bears including myself are out of position, THIS IS THE TIME OF ALL TIMES to end the bear market.
After seeing these fibs, and seeing this long bull flag very near the apex, I am very concerned.

This has a very high possibility of being the END OF THE BEAR MARKET, staring us right in the face.
I'm not sold on the end of the bear market until we see a breakout above $6k, but I will definitely be accumulating as soon as I can get some more capital in the event this is the end.
Comment:
For us fellow bears out there, I don't like seeing this.
Your analysis was really elucidating to me. Thank you!
+1 Reply
mc_peewee yuri.fabris
@yuri.fabris, Thanks for popping by! Today I learned a new word thanks to you, so thank you for that :D The more you know!
+1 Reply
BTCUSD H4 Correction up. Checkout the idea detail's and all the update's for the complete picture.
+1 Reply
I am ready for the end of the Bear Market my friend!
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out