BTC for BINANCE:BTCUSDT by etfsandstuff

Short BTC . Retracement to major resistance in wave four . New lows in store for the Bit-con .

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No comments ? Surely i must have inflamed some BTC maxis with this post ? ... or are they a thing of the past... cmon guys throw me some insults or i may abandon this trade !

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added more onto my BTC short position today . Why?
Because we have ventured right up against the major supply area as shown on this chart. This combined with a technical pattern reinforces my faith in this trade . I would like to see more bullishness on BTC and is the only part im actually worried about , but this is a tiny trade, no big deal either way . Also betting on a decoupling from gold is a stretch because the two typically trend together. I just believe personally that we will see the end of this relationship this year . Maybe im wrong lol .

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downside target is < 15k
yea it could go up... if it does im wrong and i dont care lol.
I am getting a little worried by the lack of BTC chest pounding tho...
Doesnt anyone want to tell me ... "but ya just dont understand it" ? Lol
I actually miss that...hey where's planB lol... probably siphoning gas for his boat

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Ive brought out a few hopefuls... good to see ! Please tell me more how BTC will skyrocket ! Lol

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I really dont understand BTC... i know it im so embarassed lololool...
please tell me "i dont understand it" lol then i will finally understand its me that is preventing me from being a millionaire lol....

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Resistance zone for BTC is 30-33
If we get above there i may have to re evaluate the bearish scenario .

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translation for dumb fucks : get out bitches ! buy gold and silver !

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Not a reason to trade but just sayin.... happened a week ago

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This post is an educational post for those who do not really know much about gold . Got insults thrown my way from a butthurt BTC bagholder which is totally normal as these people are holding a losing bag for over a year now (is that a trend ? hint) . This person told me "gold does not create wealth" . This is the typical opinion that gold preserves wealth by keeping up with inflation and to this i will say 100% true... BUT ... this equation changes completely depending on timing of your purchases and in that case (like any other good investment) gold can most definitely create wealth and in fact is probably the best vehicle to do so in our current times. I am also a firm believer in the gold preserves wealth theory ie an ounce of gold can buy a good men's suit... BUT i will say this... pay attention... in times of extreme financial distress such as the 2008 event and especially right now gold and silver have the potential for enormous gains in wealth because of the panic buying . No markets move in a straight line and the trends in gold are huge up and down waves. If you catch an up wave, you will most definitely 100% without a doubt increase your wealth... Im not sure how they actually measure this "keeping up with inflation" metric but my guess is it may be measured over decades or even centuries ... so fuck yea... gold and especially mining stocks at the beginning of a precious metals bull market can increase your wealth substantially as i believe they will going forward... the "gold preserves wealth" thing is only valid over 100 year time span IMO ... also... does anyone know what the REAL inflation rate is now ? 12% 25% 40% who knows... all i know is gold and silver are WAY undervalued. Still for those looking to get rich quick like the loser sending me insults... please stick to BTC, ... or vegas :)

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just sayin:

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As much as those who believe this BTC rally is for reals... sorry... it's not.
You will be burned badly if you buy into this fake rally.
The wave 5 decline may be a bottom but unless it's devastating... i'd say beginning of a bear market. You were warned.
Wave 4 is weak as sh*t... most likely heading to new lows.

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Short term trade look to rebuy at 20k

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Nice confirmation signal on rejection of the lime area i previously drew.
So what is the lime area ? Well it's generally the bottom of W1 down if you look back on the chart . Why is this significant ? Because of the EW rule W4 cannot trade into W1 . Well it can for a short while, as it just did... So the rejection is significant in that it is a clear signal to go short especially if we close a longer term candle < W1 . On the contrary, trading back above the lime area would invalidate the 5 wave downtrend and possibly signal a new uptrend . I say possibly because i'd want to see BTC exceed 40k before i even remotely get interested in longing it again . As of now BTC is bearish... but i already knew that .

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Interesting chart here . Gold (and silver) have been blowing the doors off BTC for exactly 2 years now. The ratio bottomed april 2021 . Did any of the ponzi tards care to notice ? Now as we move along the trend is only accelerating... notice the 5 wave ABCDE just today broken to the upside ? It's coming maxipads... mass panic into gold and silver and mass dumping of cryptos.... winds of shit lol

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Silver / BTC ratio and what i think happens next
- dump BTC / buy silver
- possible B wave in play

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Building my bear case . I look at every position as an accused who is on trial, either bullish or bearish and look to build a case .
Here we have exhibit "C" "BTC Dominance" .
Recently turned bullish. Now you may ask yourself... "isnt that bullish?" .. and I would yea... back 2013 it would... but not now when we have tons of other actually legitimate cryptos amongst the tons of scams. What this says to me right now is one word... "FEAR" .. Hodlers of cryptos are so shit scared of losing everything that they are huddling under the protection of "daddy Bitcoin" . Psychologically i can look at this two ways. One, if BTC starts to sell off the selloff could be brutal as literally everyone runs for the exits 👍 ... great for us shorts... or 2. a massive contrarian signal that literally everyone is bearish and we are due for a move up ... I tend to believe it is both ! ... a massive washout that takes BTC down to crying levels for your average baghodler and then as they capitualte and sell at a huge loss we get a huge rally... all of this will take place as gold and silver moonshot to add extra fuel to the crypto meltdown. Sounds like fun and im prepared for it... but i wont buy BTC at the bottom... ill buy monero.

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I was off on my initial idea i chose w3(c):w5 as the top ...

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for the cyberhornet smooth brains out there...

michael saylor is a massive fraud... always has been , if you havnt figured this out yet you will be wrecked even worse than you already are !

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can you hear it ? listen closely... can you hear it now ? it's coming lol... listen ...
you can feel it coming actually ... lol

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Big daddy BTC is all by himself here... he usually has the entire crypto sector to back him up but not this time... he stands alone as the rest of the sector is in shitsville... can big daddy continue the rally alone ? somehow i doubt it... but her started alone back over 10 years ago... we will see i guess. Here is total3 for reference, bearish megaphone in play... i expect all cryptos to fail shortly as precious metals take center stage.

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The only reason that BTC exists is to draw money away from gold and silver... it's more than obvious to anyone who is paying attention. BTC was created by the CIA . It's one step away from CBDC . Im surprised they are not giving out BTC with your booster shots.

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It's coming guys ... lol... i can feel it in the air ,,, hehe... can ya feel it ? :)

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Why are BTC tards always so butthurt ? Aw did i hurt your fee fee's ? Lol
They should hand out free crying towels with every BTC purchase. :)

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5H shooting start on high volume

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Eth trend is worse . The down trend is ready to continue .

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Good night Irene 👎
What most BTC drooling followers of the cult never realized is....
shit winds are a coming for your ponzi

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he... hehe... hehehehe... lol... smirk ;) bwahaha... bwahahahahahahahahahahahahahahahaha !!!!!!

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BTC is for crying little millenial bitches... and the ALL deserve whats coming

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Cry bitchboy... lets hear it REEEEEEEEEEE ! lol
Call of the wild...hehe

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If the FTX crisis didnt wake you up... if the SVB crisis didnt wake you up ... if the USDC crisis didnt wake you up ... then you deserve what you get when the crypto game of musical chairs ponzi comes to a close and the USDT scam is exposed in all it's glory as withdrawals deplete all reserves and the remainder are left holding the BTC bag ... then will you learn the true meaning of "BAGHODLR" .... ;)

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"Digital Gold" hehehehe ;) even if this was true... which it isnt , that would put the price about 25k lower ! This BTC price is pure ponzi hopium at best . I predict this year... 2023 reality will set in for a lot of dreamers .

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Welcome to "Ponzi World" where the illusion of safety in a digital scam token has infected the minds of millions . The BTC ~Mind Worm~

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GOLD-DOW Bullish flag pattern forming . How is this relevant to BTC ?
The way i see it is if gold is bullish against the Dow means it's also bullish against BTC because BTC tracks the market . ie. bullish gold / bearish dow/btc .

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DXY down BTC flat... now that's called "Losing" ... with a capital "L"

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This song was written for Bitcon hodlers...lol

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Here is your investment decision:

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nice effort... but you can do better lol

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I see many noob traders flip flopping back and forth like carp out of water... a word of advice, ... try choosing a position and sticking with it ! Unless you are an absolute professional at this game then short term trading is a losing proposition !

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We've broken 25811 this time finally which is the 500B market cap for BTC ... we still have support @ 25300 but after that nothing but AIR... once 25300 is taken out again we could see a MASSIVE drop considering the length of time we just went sideways... popcorn ready !

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Cant deny it... it looks bullish AF today . I didnt close short instead this morning i took hedge position of BTCC (tsx) because the long term trend is still bearish . Yea this is pretty good looking short term, but zoom out and its not that big of a deal... YET ... but it could be so i keep my ear to the ground . I am never tied to any position and i will flip to 100% long when / if my charts tell me to . Have a great weekend and congrats to anyone who made money off todays move :)

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Todays price action was nearly identical in price and volume as that on June 6th . It ran directly into resistance at 26550 and stopped dead there . Im keeping my hedge open because we have flipped to short term bullish and there is a good chance the resistance can be broken . On the big scheme of things not a lot has changed though . This was a 3% move . Not that big of a deal but the price action is encouraging on the bull side .

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exited some of my BTC long at the close . Still holding some .

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Long on a 4H candle close above 26550 - Exit on a 4H candle close below 26550 . Note: This is a short term Long . The long term trend is still bearish !

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Mining revenue seriously needs to turn around here or BTC could be in big trouble . I recently had an argument on TV chat with some smoothbrain that runs an internet crypto radio station about this topic . He told me i have no clue about what im talking about even though ive been mining since 2017 . Here's the facts . Fact is mining profit is at an all time low now . Miners are barely scraping by to pay electricity and overhead . If BTC price continues to drop and the halving event occurs this could have serious implications for the network security . BTC almost has to come back from this price and i agree that cost to mine is a major support level .

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updated resistance level here . We attempted to break out and failed . Will see what happens next .

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Hang man on high volume and pennant still stuck below resistance . It's wait and see mode .

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We have decent volume which should send us to the top of the channel for wave 5 , a very small amount . Id look to take profits in the price zone i have marked and watch for a deep retracement to rebuy . Why am i posting bullish ideas when this is a short idea ? Because my long term bias is short and i still have a position open but i still trade short term positions the other to hedge against giving back profits .