D4rkEnergY

BITCOIN-Whales Destroy Shorts - BUT Bears Are STILL In Control!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Dear Friends! <3

DarkEnergY is back with a NEW exciting update on Bitcoin             . A lot of stuff has been happening today. We have been going sideways for 14 days now, and suddenly out of nowhere, when we least expected it, within 30 minutes whales shot the price up more than 1,000 USD which put the RSI up on ALMOST level 90. It's NOT something you see every day.

Everything was going well with my latest predictions. For many days I saw that ABCDE-corrective pattern form, and it seemed like a lot of other Top Authors started to accept it and applied it to their own charts.

Let me very CLEAR. NO ONE could have predicted that STEEP move, other than the whales, who did this. There might also be a chance, that some institutional buyers came in. But that is not so likely.

Let me also stress, that I'm NOT saying, that many people couldn't predict the price would go up. There were definitely some bullish signs also. There has been a lot of bullish accumulation lately, and we were in descending broadening wedge , which is a bullish pattern . I just believed we would go lower, before we jumped out.

But for the whales to shake the market, when a lot of people slowly became more and more bearish and entered short positions, was a genius move, I must admit. The whales took the price unnatural high up within a short period of time. Just above 8k, which liquidated a lot of shorts.

I admit - I knew there were a risk - but I didn't see it coming.

So now what?

Nothing has really changed so far. I'm still bearish , and I still think we will go lower than 5k. If we manage to get out of the downtrend channel I will change my mind. But we have a lot of resistance in this area. The resistance line, 61,8 % retrace and EMA50.

According to my EW-counts we are still on wave C (5th subwave), which I believe will take us down to the double bottom at 6,000 USD.The Hidden Bearish Divergence on the RSI , also confirms, that we will continue our downtrend!

Lastly but not least. I'm making these charts for you guys to educate you about TA. No reason to be rude when I or other traders are wrong. It seems like some new Crypto-traders come into this world and think, that a Top TA/Trader is able to predict every single price movement.

And when we are wrong they feel the urge to shout "WRONG AGAIN". If we had that ability, and never were wrong, we would own the entire world!

D4 Loves You <3

Please give a LIKE - It's really appreciated. Thank you in advance, my friend :)
Comment: It doesn't matter so far if it goes up 100 dollars. It's insignificant so far. We have huge RESISTANCE. also on 4h chart with EMA200 above us, 61,8 retrace and the resistance line.

Also on the 4h we have hidden bearish divergence, and the RSI is totally overbought.

IF we break out it will be interesting. So far I'm still bearish. But I don't have a confirmed direction, so I will not enter a trade at this point.

Remember to distinguish between unconfirmed ideas and when to enter a trade.

D4 Loves You <3

Please leave a like, my friends :)

Comment: We have to be aware of all possible scenarios. Here is a bullish one, where we have ended our 5th wave down and ABC-correction and now are in a middle of a possible uptrend, and trying to restart a new EW-cycle.

I would still not enter a trade at this moment. I think it's too risky. Obviously you might be able to scalp some money if you are an experienced day trader.

But we still don't have a clear confirmed direction yet for a swing trade.

I can see, that it has changed a lot after that spike. More top authors has become more bullish.

Let's see!

Comment: UPDATE is here: Now What BITCOIN? Ultimate Freedom or 4.888,7 USD?? Let's See...

D4 <3

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Is that possible to see a reverse head and shoulder? I dont see this major reversal patterns. Or double dips..
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BTC surely became bullish
+1 Reply
I am convinced this account is owned by MPC.
+6 Reply
Oké, thin black lines are better.
But I was wrong: no up to 8700 etc. Your red arrows are right: that's the way we are going for sure!
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Philosophical question!!

"It can come more and more value into the price by people buying BUT it is only possible to sell X amount of BTC (from people who bought)"

In fact of that it is more likely to see overbought regions then oversold
+1 Reply
You are ignoring the fact that all ALT coins have hit bottom, and all the ALT coins hold 55% of the market share. In order to buy ALT COIN, you need to buy BTC or ETH, and as ALT COINS continue to rise, BTC will have no choice but to follow. Admit you are wrong because you can't always be right, and start looking at a bullish scenario that is happening in front of your eyes. The market will not care that you are bearish, but the 1000s of followers you suggest your false opinion on without looking at alternatives are staying out of the market and not helping the bulls win the $8500 level!
+2 Reply
I'm no TA expert, and my chart is not 'proper TA' - I get that, but data and patterns are my expertise and I suspect you are being bearish because you are over relying on your tools. As an expert in my actual field, I understand. But you always have to leave room for art and science. There is no perfect science. TA simply can't be right 100% of the time, and it's probably even more likely to be wrong in crypto where the market is small and less stable. All that said...I think your conclusions are ignoring the context of the data. This market has been ready for growth for while. I hope you are watching for the pivot point. I think we hit it.

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You really must be very humble person. Calling yourself "Top TA/Trader". Bow!

I hope your TA advertising will do good for your business. Not so much for your customers I guess, but it gets some... wisdom to see the wood for the trees.

Now, for those who still struggle: do your own research, never trust anyone on TV, and manage your risk! If you don't understand what's going on the chart, don't follow anyone and stop trading with real money. Practice, learn, practice, read... than come back and start over. With very very small entries. So small that you don't care about losing at all.

All the best.
+6 Reply
your analysis makes me sick.
+4 Reply
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