The market maker repeats the scenario of 2018, a break through the trend line lures the bulls and then throws them into the abyss.
Comment
⋅
I get questions in the comments about what the target of the short is, I'll write it here so I don't have to write it more than once, my answer is I don't know. A year ago I created the idea of a double bottom and a long to $3500 where a bull trap would be set and then a short to $1000, the situation there was pretty easy to predict and if someone followed this plan exactly which looked like from a small child , he could long ago swim with whales in the The Caribbean and he wouldn't have to deal with short or long here.. You don't even have to write that I will get a rekt, because I have no position in the current market, so if I don't bet, then logically I can't lose. No matter what false move ETH shows, there is a high risk that it will fall into a blow off phase in the coming months. I was just trying to warn of potentially dangerous areas if this plan doesn't go well, yes miracles happen sometimes but I don't believe in miracles…
Warned bull trap $3500 and short to $1000 ✔ Warned short $2700 ✔ Warned short $2000 ✔ Warned short $1750 (merge) ✔ Warned short $1670 ✔
If you are convinced that the whales have already accumulated in the region of 1000 and the rocket is ready for launch, then happy flight to the moon.
Comment
⋅
I have to admit that the rocket for moonboys took off a little more than I expected, but I haven't changed my mind yet. The rocket must fly through this dangerous area.
Comment
⋅
If there is a break below 1400, I expect a test of support around 1200. Back in the red zone, it is confirmed that this move up was just a trap.
Comment
⋅
The missile did not fly over the dangerous area. (log. chart) It broke back below support, the upward momentum could work to liquidate short positions. But the market is currently heading higher, so that's less likely. In any case, if the above levels are not validly cleared, there is no point in thinking about entering.
Comment
⋅
If you think that in this market you just need to break the trend line and the bull run is coming, then good luck with your trading.
Comment
⋅
I expect a rejection from the broken support and a subsequent test of the 1200 support.
Comment
⋅
Retest rising wedge, still nothing bullish on ETH. It is not bullish to lower the price and then bring it back. How many traders did it probably activate a stop loss and how many people forced to sell. Then make a fake support break so that as few traders as possible buy and then pump it back in a few hours, again so that many traders don't have time to buy. The market maker is playing nice. When rejected, I expect a return to the previous target.
Comment
⋅
The setup for the bears looks good so far. It looks like there was only a false break into the rising wedge, so as it fooled the bears below, it will most likely fool the bulls above. If the daily candle closes below the lower trend line, the chances of a short are high. A valid close above 1800 will invalidate this idea.
Comment
⋅
Fool the bears first, then the bulls. Time is running out for this bear market rally.
@trader-123456, "such" comments, you coming back or what?
trader-123456
⋅
@BuyTheFknDip, I understand that when you see this pump to liquidate short positions, you already see yourself on the moon and that's why I had no position now, the risk was high that this could happen. And when I write that I'm coming back to the comments after some time, I mean in a few weeks or months, you want everything right away, and that's why you always end up wrong.
BuyTheFknDip
⋅
@trader-123456, With your conviction, you should have a margin short opened from this level, free money right
BuyTheFknDip
⋅
@trader-123456, When you use terms like "moonboys" and all your trade setups are short, it shows you are being a perma bear. Definitely need to switch mindset. Should be long from 1100 ish. Now you are on the wrong side of the trade.
trader-123456
⋅
@BuyTheFknDip, Maybe true, but at current prices it's not for me.
trader-123456
⋅
@BuyTheFknDip,I will become a bull when I see that ETH has properly finished the cycle and gone through the accumulation phase. I view this move as a bull trap or possibly a bear market rally that could end at any moment. I really don't believe it will go above 2K and keep growing steadily, not the right time, will you want to buy ETH at 3K, 4K, 5K? I suppose not, but you will hope that others will buy it there and enrich you. This is just my opinion and could be wrong.
BuyTheFknDip
⋅
@trader-123456, I remember last cycle bears were in disbelief the entire way up. Hopefully for you this isn't the case.