2 days of high volume with a spike in price, then volume drops, and price stops. 3rd time this happens. Probably the price slowly, very slowly, drops too. I think something like this could be what happens next:
Things were slow in 2014-2015 too in these situations, but now it's 2-3 times worse.
Zooming in we can see this:
People got scammed again.
I posted about FCoin volume increasing suddenly from 90 million to 7 billion 3 days before the pump, I posted an idea about a fake bull run 1 day before, and according to very ignorant people I was an idiot that looked stupid for doing so, but what has happened? We stopped, every one bought at the top, and 17 days later we still have not gone up. So, once again, I get called an idiot by apes, and was right.
There will be a buy opportunity but in a while, and it's probably a trade that will last 3 months... boring... will only consider it if I think the funding will go towards long. Otherwise no point paying shorts for months and losing all my money regardless of outcome. It probably will be longs that get paid if these scammers want to save Bitcoin again. Will post in a while no point posting 3 months early.
So those are the strategies:
Not going to go into other crypto's, but I would make it a little more spicy by splitting my buy between bitcoin and other crypto's.
To throw a few examples:
There are plenty of things where the price bottomed and then they ended ripping people's faces off, but they are so underhyped, lost and forgotten, and often not on tradingview, really hard to find and demonstrate. If Bitcoin goes to 0, I can 100% guarentee you won't have it on charting services in 50 years. Where's my bolivar and zimbabwe charts at? Where's my beanie babies chart at? Where's my 2000 IPo's charts at? Tulips? Ostrich feathers? Mississipi company? Railway bubble? South sea stock? Napster? Friendster? Myspace? Hello? Where's my television hype bubble chart at? Hello? I am not blaming tradingview or any charting service of course, I must be the only person using them out of millions that want and would use these XD
Comment
⋅
I want to update on the bigger picture too.
With high wash trading and tether volume, Bitcoin price pumped, most people bought at the top of that trap, I think the price might go to 6300, we will see. I do not know if I want to buy here... gosh it will depend I guess.
The head and shoulders obviously isn't important and only happens sometimes. I want to look at previous ABC's:
All makes clear sense... When every one joined, how news were, public opinion... Everything fits perfectly...
Comment
⋅
According to bitgur, on the CME (dated 9 April): 60% of funds are short 55% of others (big reportable trades) are short 17% of small (small unprofessional retail traders) are short
Retail is usually right honk honk
Just shows how the pro's have a very different opinion from retail "true believers", oh and also that we are in denial and all these small fish are enthusiastically feeding whales.
Low volume is not always a bad sign! I know there is lots of eyes on the market ready to make decisions! The low volume is a sign of uncertainty, and it usually happens before big moves and so goes the saying: "the calm before the storm." Upwards or downwards nobody knows yet!
ARESABI
⋅
you‘re publicly brainstorming and talking a whole lot of bullshit based on your assumptions. that‘s probably the reason for „low ratio“ or likes/views
mhfcrypto
⋅
255 Viewed this Idea so far... only 13 Likes.
Seems most people only trade Long or are BTC Bag-Holders.
MrRenev
⋅
@mhfcrypto, 13 likes it's only been 4 hours thought. So anyway yes are people traders or just holders? I'm giving a strategy for people that cannot help the FOMO, to satisfy it but still have a strategy that is decent.
Are 90% of people really stuck bagholders looking for hopium and/or someone that agrees with them and proves to them they are right? Gee that's scary. They should spend that time learning how to invest & diversify rather than look for reassurance; Or did people go all in and now have no more money to invest? rip.
mhfcrypto
⋅
@MrRenev, it's not the Number of Likes, it's the Ratio I was referring to. 13 Likes / 255 Views = 5%
MrRenev
⋅
@mhfcrypto, Oh right! Didn't get that right. 5% is not a low ratio thought, well at least for me lol, I never really check what ratio ideas typically get in the few hours after they are published. I feel if there was a dislike on this site all my ideas would get massively disliked since I do not have a blind bull bias on crypto.
mhfcrypto
⋅
@MrRenev, I'm sure the Ratio would be far higher if you posted a Bullish Scenario e.g. maybe 25%... :-)
MrMarketMaker
⋅
Great call!
MrRenev
⋅
@MrMarketMaker, Thank you! I have a nose for sniffing this ^^
Hope I saved you some time not trading a consolidation that lasted 3 weeks.
MrGabe
⋅
Here comes the party
I doubt that tether/finex gets away now with this lawsuit pending on em. Tether death is signed and delivered.
Once the authorities get into the Fcoin thing this whole shitshow is over