flamezyz

flamezyz Updated 

Before we get into more specific details of the price movement, let me explain why I see more downside in this market: 1. Clearly, we haven’t seen the capitulation bottom. If you follow every single Bitcoin bear market you can see that it always ends with a sell off on high volume and that hasn’t happened here yet. Everyone is still in profits. You got hurt only...

flamezyz Updated 

It's illogical, but as bitcoin keeps dropping people seem to be adding up to their short positions: This parabolic rises in shorts are often followed by squeezes and painful liquidations of overleveraged traders. Now you can see that the environment is suitable for this as we have clean bullish divergences on major indicators and the price has just landed on a...

flamezyz Updated 

How was your weekend? Hope you had some fun. At least, bitcoin did. That’s what we’re gonna be talking about today. You might be confused. We had inverted h&s, cup and handle, adam and eve bottom, it felt like SEC has almost approved the bitcoin ETF, consensus pump was ready to take us to 20k in a week and 6 of June was your last opportunity to buy below 10k. What...

flamezyz Updated 

Hello everyone, Welcome to my first idea here and I want to tell you why this market structure in Bitcoin suggests that we'll see new lows. 1. The most obvious reason why I think we'll continue the downtrend is the general overbought levels of crypto markets. Even after we made this correction to 6K some fundamental indicators tell us that it might not be enough,...