Hi guys, welcome to the last post of my quick hyper bearish series. Without any special comments, I have just cleared up some geometry in previous charts and here it is. To all bulls out there, please, stop comment about bottom is in and other nonsenses! I do not care! Thank you!
Take care!
-DP-
تعليق
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Will this rally pass 6500? Yes, possible, be careful guys! I will not be aggressive on sell side until the price will not consolidate between 5-6 in next weeks.
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this stupidity seems to be over
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possible last push next week to my ultimate top 6450. and we are done here!
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Parabolas usually retrace themselves 80+ %. 6430, - I am 100% in, 5x leverage, will go little bit more aggressive if this will go right! take care guys and thanks for your attention!
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All my expected resistances have been broken. I reduced my positions to defaults again and waiting. Next resistance is 7400. I still think this a giant FOMO bull trap. If you are long, congratulations!
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I am not joking. Really hard to predict how high this will go (I think 7400 is realistic) , but I think we will be there today or tomorrow and all this will end very badly!
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For me BIG SHORT has just begun and the whales flipped their game! Maybe I am still a little bit soon in the trade, but the broader strategy stays unchanged. Thanks for your attention again guys and be careful, this market is nothing but carefully prepared plan for years and years from now the future ;)
You go boy! :-) I think you will be just fine, although these guys are really pushing the envelope- I would have expected more resistance here, I'm actually really surprised how this is unfolding to be honest.
Cryptoguppie
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@jeremy.jacques79, This is why there's not as much resistance here as you expected
W3rN0tAl0n3
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@Cryptoguppie, That makes sense, you could be right- thanks for sharing
W3rN0tAl0n3
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@Cryptoguppie, Parabolic rises do usually have deep retraces though.....we just don't know how high they are gonna force it.
Cryptoguppie
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@jeremy.jacques79, They do, but like you said we don't know where it ends yet. Also I'm still looking at one more wave up after this upcoming retracement which would be wave 5. After that move is when I'm expecting the larger retracement which could still be a few weeks or even months down the road. So for me I'm expecting a .618 retracement off of the end of wave 5, and a shallow but quick move down after the current move up. I don't think we see an 80% retracement because of the accumulation that's taken place leaving a lack of supply which is needed to push price that far down. The smart money is not looking to unload the majority of what they've accumulated until the end of the next bull run. The only way it makes sense to make new lows is if I'm wrong on the accumulation zones in the chart that I posted. If thats the case we'd be at least another year away from a bull market
DataPatron
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@Cryptoguppie, from where do you have information about majority buying there. i do not criticise you just would like to know
Cryptoguppie
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@DataPatron, its what I'm reading in the Price action and volume at that level. Also the 3k area is 80+% down from the parabolic move that put btc to almost 20k. That combined with the demand volume with the lack of supply volume on the way up from 3k. We consolidated in two weekly trading ranges on the way up from 3k and price was unable to retest the bottom of those ranges which shows demand increasing inside the trading ranges, which in the case of the second trading range is a form of bullish re-accumulation. Price is usually able to make it back to test the bottom and even create a spring out of the bottom of the range before continuing up, and in this case we didn't see that.
DataPatron
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@Cryptoguppie, "Price is usually able to make it back to test the bottom and even create a spring out of the bottom of the range before continuing up, and in this case we didn't see that."
that's why I am bearish ;)