Last bullrun went from 300 dollars to 20.000 dollars in almost 2 years. Only reason that it pumped that high is due our dear sugar daddy BITFINEX. They printed shitload of tether and kept buying BTC's. In combination of the crazy ICO run that people invested millions in worthless and useless tokens that are almost all down 95%. When the pumping ended and the dumb money retail masses invest at 20k it became clear that BTC would enter a bearmarket. 6k became the support that held for many many months. Once it broke we dumped 50% in couple of weeks.
Now Bitfinex has the claws of NY AG around their neck and their cold wallet is moving money out like crazy. ICO's are basically dead. the main 2 catalyst that pumped the price to epic highs are "gone".
Thinking bullrun will start now is stupid and doesn't make any sense. I ask you what is the reason BTC will have massive bullrun? real world usage? adoption? please dude wake up.
People like Willy Woo, David Puell and Murad telling us the bearmarket is over cus they invented some fancy looking indicator that predicts the bottom. the point is that BTC only has 2 previous bearmarkets. there is simply not enough data to check if the fancy new indicators are accurate most of the times. and of the 2 previous bearmarkets there is only 1 bearmarket that is almost similar like this current market.
Rather trade what the charts are telling you now instead of comparing every piece of charts to 2014-2015 bear markets.
Basic rule:
Don't long resistance and don't short support. Ogaah boogah blah blah WhAt?? look at charts we are at major Resistance.
I think we gonna see lower.
Short it. close some at red box and short again when it has deadcat bounce. keep shorting the shit of it until there is a flat phase of accumulation and the biggest bulls are turned into steak.
Now Bitfinex has the claws of NY AG around their neck and their cold wallet is moving money out like crazy. ICO's are basically dead. the main 2 catalyst that pumped the price to epic highs are "gone".
Thinking bullrun will start now is stupid and doesn't make any sense. I ask you what is the reason BTC will have massive bullrun? real world usage? adoption? please dude wake up.
People like Willy Woo, David Puell and Murad telling us the bearmarket is over cus they invented some fancy looking indicator that predicts the bottom. the point is that BTC only has 2 previous bearmarkets. there is simply not enough data to check if the fancy new indicators are accurate most of the times. and of the 2 previous bearmarkets there is only 1 bearmarket that is almost similar like this current market.
Rather trade what the charts are telling you now instead of comparing every piece of charts to 2014-2015 bear markets.
Basic rule:
Don't long resistance and don't short support. Ogaah boogah blah blah WhAt?? look at charts we are at major Resistance.
I think we gonna see lower.
Short it. close some at red box and short again when it has deadcat bounce. keep shorting the shit of it until there is a flat phase of accumulation and the biggest bulls are turned into steak.