As charted, uncanny resemblance to the end of Jan 2018.
Dramatic crash may be imminent, even though the price may eventually bounce back up to 30k, it will not get above this level for a LONG time.
The drop may start at 40k.
As charted. Gigantic bubble fueled by speculative margin trading ends in even more dramatic crash every single time.
This time it's NOT difference.
Check out my other charts.
I'm also launching a new social-media-like platform just for blockchain. Stay tuned!
As I have discussed in earlier posts, I foresee a sharp drop to $30k before dead cat bounce.
Obviously, there appears to be a 200 SMA support level at $40k, but the real bounce is more likely to happen at $30k.
You can find my earlier thoughts on BTC's bubble burst in the Related Ideas section.
I'm launching a new "Tweeter-lite" type of website + app for deep...
Also see my earlier chart:
One mitigating factor is the Stochastic, hinting at the possibility of a "death cross pump", which will result in dramatic dump ($10k per day is possible and likely).
In the last two weeks, I made several posts, all predicting the start of the DUMP phase of the COIN pump & dump.
I'm marking this post as a tutorial to sum up some bearish signs that everyone that is not a bot should be able to identify:
1. Rising wedge
2. Three black crows
3. Death cross
4. Volume divergence
5. MACD divergence
6. RSI divergence
Drop is faster...
As charted & see related ideas.
Last week, I saw a request on HARO to comment on BTC and crypto after COIN's DPO. I made a reply, though I doubt the reporter would use my material, because most are fishing for bulls.
The fact is that artificially pumping the price high is costly, and in hindsight it's probably motivated by COIN's DPO (instead of profits,...
with death cross & bearish divergence in play.
Obviously, this pair is heavily influenced by geopolitics and central bank policies. It may be unwise to base one's trades solely on the chart.
I've posted a few podcasts on the USD. You can find them on YT on my channel DrJLT Economics.
This is clearly not a serious company. It has been run so poorly that all its business activities consist of speculating on bitcoin.
When bitcoin drops, this company (since it's borrowed money to buy bitcoin) can have negative equity.
I hope it doesn't turn out that some of its executives have been pumping their own books.