As we keep ranging inside a resistance zone here, there is a good chance we keep consolidating and break down after some kind of fakeout. There are a lot of resistances above and until we break the topmost box, there is no reason to be bullish here.
The last dump around the new 8.6-PI-Cycle and failure to break out is a heavy indicator that we are crashing to 2.5k very soon.
Mining Businesses will close, Futures markets close, real panic ensues.
The resistance trendline is clearly turning down, which shows extreme weakness.
The last run was on very little volume.
With the new PI-Cycle starting, I expect a...
Time and time again I see people short the bottom.
Shorts are approaching ATH, which shows how uneducated traders really are.
You short at top pivot point confirmations.
You long the bottom pivot point confirmations.
You don´t short the lows on the bottom of the cycle.
You don´t long the highs at the top of the cycle.
Research market structure and market cycles.
This is my best bet at what will happen with the crypto market.
We didn´t have a clean bull trap, fear or capitulation stage yet, thus I´m thinking we´re still in denial stage until end of August.
People still think bullish subconsciously.
We could have a small rally with the beginning of the new PI-Cycle till year end. When everyone thinks we´re going back to...
In Jan 2015 we had a 45% drawdown just within 1 month.
Now with the short alt rally, I would be extremely careful, as it could be a huge bull trap.
Does the sentiment chart look familiar to you?
3rd September marks the new 8.6-month-PI-cycle. We could have a final capitulation to 3,7k, followed by a despair stage to 2,5k(creating a wick on the monthly candle) just...
Next week could go into some kind of consolidation, while waiting for a decision to make lower lows or higher highs by beginning of 8.6-month-PI-cycle on Monday 3rd Sept.
Doom or gloom guy? To be continued.