RiversAndMountains

Bitcoin - What a Bull Scenario Will Actually Look Like

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
The reality is after a long and prolonged stretch of bearishness, the makers of the market for a high value asset with much future upside potential are not going to let you comfortably buy and hodl in anticipation of the moon mission.

They want your coins because whoever controls supply controls the future. But they're also bound by a razor wherein destroying their market destroys themselves.

July and August's extended "bearishness" followed a similar, albeit less exaggerated version of the pattern Bitcoin             has followed since 20k.

In the end, it formed a descending triangle and broke through major supports before bouncing dramatically and continuing the moon mission.

The problem with this fractal in terms of applying it to today's situation is that it happened during the earlier periods of a large bull run. RSIs, EMA , and position of price action relative to the Bollinger bands are completely different.

This is also the wrong side of the market cycle, unless you are making the assumption that this is merely one giant dip inside of an even bigger, or perhaps final, move up.

That being said, Bitcoin             10x'd in price since July and became a considerably more mature market controlled by considerably more clever makers.

The simple volume of buy, and especially sell pressure, caused from the spike in adoption, can also account for these differences without it breaking the "bull" trend of larger time-frame fractals.

Struggle bus bouncing to $7,500 is _not_ bullish . It's bearish .

Once you capitulate, the bull run is back.

The algos and Chads will take all the supply below 6k there is.

When the bottom is in, it will be gone in literally minutes.

And this time, what will happen to shitcoins?
==
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party

https://dafoh.org/petition-to-the-united-nations
Comment: Short it on Bitmex to 5k and then leverage your house 200x long for 9 lambos at once.

https://www.bitmex.com/register/6COvar (10% off fees)
Comment:

600MM contracts of open interest on Bitmex is pretty much where we were at at 11k and 9k dumpsters.

Yet, price is $7500, hourly volume is very low, and everyone is geared up and ready to go for the next moon.

Happy June, friends.
Comment:

In my opinion the last ~9 hours have confirmed this isn't a Bart stoprun/dump.

7500 is not a buy the dip zone, unfortunately.

You've been told to buy for moon, but even May support is now a long ways away.

Short it on Mex in my signature below.
Comment: My friends, this market is not okay right now.



Imagine this wasn't Bitcoin for lambo and moon.

Does that daily look like a long to you?

Mex up to 700 million contracts open interest. More than we had at 12k and 10k dumps.

Short it with the ref link in my signature.
Comment: Dearest bulltards.



How faux pas is this post if moon now?
Comment: Well, boys.



Do you really think it's going to double bottom?
Comment: Patience is a virtue for so many reasons.
Comment: Always bet on Rivers and Mountains.
Comment: Push play on the chart. The bull scenario terminated early, meaning, there isn't one.

People ignorantly, like pigs, do not remember how fucking high of a price $6,000 is for a shitcoin. $1,500 is a historically very high price for this failing asset class, as well.

Digital Currency is a death trap and yet you're being brought to the altar for sacrifice like pigs to the abattoir.
==
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party

https://dafoh.org/petition-to-the-united-nations
Welcome back!

I like this thred of yours. I wish I had the wits to follow it through. Others may say we're merely closing the gap between 4.9k and 5.2k left there almost a year ago.. may require a double revisiting for a full closure...
WHat I don't fully understand is the yellow arrow still pointing upwards from the 5.2k area. Do you still trust it if BTC is not worth 1.5k?

Best,
one of the abatoir pigs
Reply
ok ok.. so my trading skills need work.. but I do know this. An offering of your response requested. https://jacobitemag.com/2018/07/27/the-conversations-that-cryptocurrency-kills/
Reply
lol such a bear! dead asset class? cmon rivers....and dont give me this conspiracy garbage. The news/fundamentals could not be more bullish for Bitcoin. The bull is still sleeping though. When moon sir?
+1 Reply
Best chart! Are you still expecting a big move up after 5k?
+1 Reply
@ali7861, Well, "expecting" in this case is more like a 51-59% probabilistic determination.

Everything is very complicated, but ultimately I think this whole thing is a supply run.
Reply
ali7861 RiversAndMountains
@RiversAndMountains, What does supply run mean master - let me rephrase the question then - will you be buying bitcoin at 5k?
Reply
@ali7861, it means that it is an accumulation phase for big players before the next "bull run". We will see capitulation then a back to the norm ...
Reply
cryptogast33 Crypt0Phoenix
@Crypt0Phoenix, Supply = distribution... demand = accumulation. There are no big players involved anymore, the whales already left finex and there were no "big" institutions ever in if you meant that.
Reply
alexhartley1 cryptogast33
@cryptogast33, All the big players are buying and selling it OTC.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out