alanmasters

Bitcoin Will Disappoint Many People... But Why?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Many, many people are waiting for Bitcoin to drop just because it is time for it to do so.

No, wait... Many people are waiting for Bitcoin to drop just because the chart signals and technicals say so...

Let me try again... So many people are waiting for Bitcoin to drop just because it has gone up so much...

Confession: Let me be honest, I've been a victim of chart patterns and signals before, they are very convincing and overall they tend to work.

But I also have to admit that we can blind ourselves when it is time to perceive, a different reality which is not what we want to see... And for this reason, I say...

BITCOIN WILL DISAPPOINT MANY PEOPLE... Because they are waiting for Bitcoin to go down, but there is no reason for it to do so.

There can be many bearish signals, but the market has a life of its own.

At the most, I am looking at sideways consolidation, we can't be bearish if we continue trading above EMA10.

So if BTCUSD remains above this level, expect for it to go higher and reach the next resistance, our next target.

Where do you think that Bitcoin will go?

We are headed to $10,000... Regardless of the signals, the bullishness lately is just way too strong.

We can't have a bearish Bitcoin when everything we are seeing is just pure growth.

What's your take on this view of mine?

Please share your thoughts on the comments section below.

This is Alan Masters, thanks a lot for the continued support.

Namaste.
P.S. I will share support and resistance levels in my next update.
Comment: iH&S:

Shared by @h_btc in the comments section.
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Related Ideas



Consider this:
Are smart money buying now?
Maybe.
Are dumb money buying now?
Likely.
Are smart money selling now?
Maybe
Are dumb money selling now?
Not a chance.

Do we have fomo now? Yes
Do we have fud now? No

Are shorts high? No
Are longs high? Yes

Based on That, we will drop a little.

Reply
It could go the other way as well. Many people think we are out of the bear market, but Bitcoin will disappoint many people by making a lower low.

Without reason and data to back it up, I don’t think the narrative is strong.
Reply
4th symmetrical triangle in 10 days. Ll of them have broken upwards. However bearish outlook:

Reply
tks bro
and this is my, pls share your comment
Reply
BTC- volume is down, the price remains strong it means another squeeze is expected
+2 Reply
@WBM_Team, Thanks a lot for sharing.
Reply
AdrWijaya WBM_Team
@WBM_Team, But there is no more short to squeeze. Many has switched to long side.
Reply
Short sales are very close.
+1 Reply
@QuantumHF, Great EW count, thanks a lot for sharing.
Reply
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