I have been writing hopelessly about Ethereum trader's non ending greed. But they did not stop taking BTc's market capital then other alts started to attack BTC's dominance like litecoin and xrp. They did not play the team game. As a result Market greatly weakened. We suppose to take BTc to 80k then alts would have their turn accordingly. Then average traders got greedier and stop buying BTC because , it was not profitable. Then little coins try to grab fair share from BTC . on top Elon tweeted in exactly perfect time when Btc was the weakest. This was not just elon's fault but he triggered what was necessary for a while. BTC is the only major coin that can bring fresh money into market. When ether took it's capital , we lost our chance for free advertising all over the media. Remember the media when BTC reached$20k-$20k-$40k,$50k . It was like celebratory event. But when ether reached $4k, didn't even see one news mentioning. We have one last chance to turn this around. If people stop being greedy and buy BTC ,we can save the market and attempt towards $60k again($47k bounce absolutely the last chance).Below that I plotted main bounce points in Red. Worse part is so called experts already yelling and screaming that correction is over! This smells like 2018 bear market all over the place. My funds are safe. I will not try to buy the dip or anything else along this line. Time to be cautious not brave because trader got extremely greedy. In the best case of scenario ,market recovers over $47k and stabilizes then we will have many more chances to make $$.. AGAIN WE ARE IN GREAT DANGER. All the alarm bells ringing! Massive crash may happen up to %50. I seen this happen few times in the history. When BTc crashes , everything else may crash along with it. But I will not be sorry for traders bought ether over $4k.
** This is not an investment idea. Only trying to pass my vast trading experience on cryptos to newcomers and less experienced traders. My predictions based on calculated reward Risk ratios. I can not be right all the time. So far I have very high percentage of success of predicting. Once you click buy button you are doing it with your own will. Nobody can force you to buy and sell but yourself. Please comment below and click like button to support my efforts.
** This is not an investment idea. Only trying to pass my vast trading experience on cryptos to newcomers and less experienced traders. My predictions based on calculated reward Risk ratios. I can not be right all the time. So far I have very high percentage of success of predicting. Once you click buy button you are doing it with your own will. Nobody can force you to buy and sell but yourself. Please comment below and click like button to support my efforts.
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I have been trying to warn people past 5 days. When you get a chance , please read this carefully !
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We are approaching first bear target 40k .It is not very difficult to figure most stop loss order will be below this figure. Hopefully 40K will stop this action or we may see flash crash below due to chain stop losses activations. Dangerous times ahead of us. Lets hope for $40k reversal
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Thing looking a lot better here. 3 attempts to 42k Seems to be holding for now! Volume is increasing steady. If we can get up above $46k-$48k , it is safe to say we are still in bull market and this save can trigger massive BTC spike.
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I was really worried about 40k could be taken out but we are lucky...I feel relived that we still got a chance to make this happen ...
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It is too early to say it now , but price action can no go down below 42 for past few days now and daily rsi is low at 28 range. Selling here could be exactly same same buying at 65k. No difference in my opinion. Currently things appears to be bad? But it is actually that bad? Or somebody trying to force you to sell so they can buy it cheap. Currently we are at 42.5k usd level. I am expecting big jump towards 47k region within couple of days. I know it is to much ask for but I have reversal vibes already. Correction should be completed.
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This should be simple trap for BTC . Alt coins paying the price surely. If we can recover, should be direct V shape. Because Btc is really oversold at the moment but alt coins are not!
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We are exactly at first reversal point line .I placed orange line across the page.
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upsy . Second line of defense red dotted line in play. This was such an unusual drop. Not sure about this one. Questionable a bit but I have seen worst :) I entered back into action a bit too early it seems but now the worst is over.
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Massive buys coming in right and left for BTC. Red dotted line acted as super support and showed us that V shape recovery on the way. Now institutions and large scale investors are actually excited to buy while you are scared! Again this is golden opportunity to buy below 40k.
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So far the market showing great weakness and the fact that people constantly talking about Dimond hands worries me. The amount of Fud getting unreasonable levels! I mean class 21' of cryptos seriously believing in Chinese fuds. As hardened veterans does not. But the main problem is late 20',21' class constantly buying high and selling low. And It seems like they are not going to stop doing that until run out money. So price action is not allowing entry unless you want to gamble much. So my suggestion is to wait up for low 30k entry or wait up till 42k resistance. Entering action in between might be costly in a way. But weekends always proved to be interesting. Price action either going to tank big time or we will progress towards 42k resistance which seems a bit unlikely. Elon musk is not helping because nobody understands his stance since tesla owns nearly 1.3 billion worth BTC. So the whole situation is messed up. If we move below $30k , it is very safe to assume we entered bear market. Even now it very much feels like bear market so I strongly suggest caution here unless we see very strong signs of reversal !
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I am afraid $23-$25k very bottom target still in play. Worse part is people asking you told while they are selling! DO not believe CZ or elon or others. This is wild wild west make your own conclusion! Unfortunately , I find another channel down. I will update it.
Trade closed: target reached:
$30k usd Bear target could not be breeched and we are out of the triangle. We needed this correction so it is good for the whole market. Currently triangle being retested but it should stay above the triangle. Too early to come to conclusion but I would say 90% chances that correction is completed.
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on the side note I was expecting this deep of a drop but fud was too strong. There are some elements can not be seen on the charts. But there you are second chance for some people.