BTC: continuation of the downtrend

I haven't been sharing many ideas lately as there's nothing new on the horizon. We are still in a solid downtrend and the 30 to 40K range has been distributing BTC from old hands to new hands. Yes some institutions or whales have averaged in but that doesnt mean this is the bottom.

We have yet to see the final capitulation of the market and I stick to my bottom target of around 14K. Lots of so called guru's that tell you; "the whales are buying" "Bitcoin never drops below previous bullrun ATH" "That can not happen because it never happened" "This happened in 2013 and its happening again". Please stop listening to all that nonsense. Really - Willy Woo and all those magicians included. Just look at the chart and what it tells you. Bitcoin is bearish and it will remain like that for at least a while. Long enough for you to grab sats at substantially lower prices. The game of Bitcoin is a market maker game.

In short, pretty much always: whatever the majority says is wrong. Don't fall for it. Also no need to panic. The crypto market will recover and when it happens I will be there. Join the community in through the link in signature field on my profile if you like... Good luck to everyone.

IMPORTANT: this is not financial advice, trade based on your own risk and research.

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Do not be naive: www.tradingview.com/...-Let-s-call-the-top/

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First target hit, 0.618 is still acting as support but is very weak. I expect it to become resistance over time.

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Alright peeps! The golden pocket acted as support and we just had a massive overextended run and liquidated billions worth of shorts. This means that the shorts acted as buyers and not necessarily the market itself. Closing or liquidating a short means a "buy". We now have the opposite situation with BTC longs around ATH and an overextended move. Looks like we either have a relief rally on our hands (or a bullish reversal) both scenarios means we will break 40K. Or we just saw one big pump to take out the bears and we continue downwards. Right now is NOT the time to buy as we have to recover some big ass vector candles towards around the 35K mark. We did break the downtrend and my orange box had to confirm further downside, it did not. For now there's nothing to but to sit on your hands and wait for a retrace back to the 50 EMA on the 1 hr (all the way back at 35K at this moment!) and see how the price behaves there. If support: bullish, if break below: bearish. I'm sitting on my hands. Also tomorrow the Ripple case will talk about ETH being a security or not... This rally might be in anticipation to that... I'm bullish on the crypto market but there are a lot of interest and players around trying to manipulate price, regulate digital assets or in the form of banks; they see it as a threat to their business model. Crypto has to settle into institutional world and right now its doing that in a violent way. Which means; be careful and dont get trapped. Buy red, sell green.

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Like I said: when you miss out on a move. Sit on your hands…