Well, in a heavily manipulated market, one never knows. But I don’t think we’re there yet.
This is update #9 to my original May 5 post. See my previous post for the big picture. This is a tight 1-hour zoom in.
At the risk of being stoned to death (I’m an observer, not a prophet), I offer this plausible scenario:
I expect Bitcoin to bounce around the (downward sloping) upper parabola (shown in blue) for another day or two. Taking dips — but showing *remarkable* bullish resolve to regain the $40k-$41k plateau and possibly muscle a power spike to $42k. (A Bull Trap within a Bull Trap.)
One of theses dips (perhaps the current one) should be to the obvious Fib retrace $37,700 - $37,800.
But from a later dip, Bitcoin will not recover.
Indicators:
1. Death Cross: Manipulators are always looking for intrinsic, “natural” indicators to conceal their manipulations. The much publicized Death Star, while having a ho-hum history with Bitcoin, will this time, I predict, be anything but ho-hum. Its June 20-24 timing is just too good for the Bear-manipulators to pass up.
2. Lower volume: Binance, with over 30% of Bitcoin’s volume, is by far the largest Bitcoin market. I have over a dozen alerts on this volume: 40G, 39G, 38G, 37G, ... These have proven quite predictive during previous “quiet before the storm” periods. Note however: As the fall begins to seriously accelerate, this volume will quickly go up.
3. Watch for a slow, accelerating arc downward, heading towards a recent previous low. As the price bounces, all are thinking, “Oh, OK, it’s made a double bottom here. A true Bull sign!” But shortly thereafter .... the Bear takes a dump!
As they say, Bear happens!
_______________________________
Warning! Conspiracy theory ahead: Allow me to close with a theory I first posted last month:
Regardless of what you believe about the Bible, it does prophesy the end times characterized by:
- a one world government, and
- a cashless society.
It’s hard to imagine a global (borderless) government that uses something other than cryptocurrency for their global currency.
This line of reasoning suggests that blockchain cryptocurrencies will be the technical foundation of the Bible-prophesied cashless society and that, beyond simple greed, the current manipulation of Bitcoin could be motivated by globalist ideologies, goals and plans. We’re talking *big* players here. Very wealthy and determined globalist players.
Be careful out there. The world is is not getting better and better.
Sincerely,
Bullbearish
(I’m a Bull. But Bear happens.)
PS: Nothing I post should be construed as trading or financial advice.
This is update #9 to my original May 5 post. See my previous post for the big picture. This is a tight 1-hour zoom in.
At the risk of being stoned to death (I’m an observer, not a prophet), I offer this plausible scenario:
I expect Bitcoin to bounce around the (downward sloping) upper parabola (shown in blue) for another day or two. Taking dips — but showing *remarkable* bullish resolve to regain the $40k-$41k plateau and possibly muscle a power spike to $42k. (A Bull Trap within a Bull Trap.)
One of theses dips (perhaps the current one) should be to the obvious Fib retrace $37,700 - $37,800.
But from a later dip, Bitcoin will not recover.
Indicators:
1. Death Cross: Manipulators are always looking for intrinsic, “natural” indicators to conceal their manipulations. The much publicized Death Star, while having a ho-hum history with Bitcoin, will this time, I predict, be anything but ho-hum. Its June 20-24 timing is just too good for the Bear-manipulators to pass up.
2. Lower volume: Binance, with over 30% of Bitcoin’s volume, is by far the largest Bitcoin market. I have over a dozen alerts on this volume: 40G, 39G, 38G, 37G, ... These have proven quite predictive during previous “quiet before the storm” periods. Note however: As the fall begins to seriously accelerate, this volume will quickly go up.
3. Watch for a slow, accelerating arc downward, heading towards a recent previous low. As the price bounces, all are thinking, “Oh, OK, it’s made a double bottom here. A true Bull sign!” But shortly thereafter .... the Bear takes a dump!
As they say, Bear happens!
_______________________________
Warning! Conspiracy theory ahead: Allow me to close with a theory I first posted last month:
Regardless of what you believe about the Bible, it does prophesy the end times characterized by:
- a one world government, and
- a cashless society.
It’s hard to imagine a global (borderless) government that uses something other than cryptocurrency for their global currency.
This line of reasoning suggests that blockchain cryptocurrencies will be the technical foundation of the Bible-prophesied cashless society and that, beyond simple greed, the current manipulation of Bitcoin could be motivated by globalist ideologies, goals and plans. We’re talking *big* players here. Very wealthy and determined globalist players.
Be careful out there. The world is is not getting better and better.
Sincerely,
Bullbearish
(I’m a Bull. But Bear happens.)
PS: Nothing I post should be construed as trading or financial advice.