Race to break $100 -- Hoodwinked and manipulated!
I have been accustomed to the manipulation in the crypto market. The lower they (whales and IMHO the Exchanges) are using their leverage to keep prices low. I am hearing various anomalies on various exchanges that are quite unorthodox. I can't be specific because I do not wish to be sued. My original price prediction for ETH was $25. I believed it when I wrote it then and I believe it now. Elliott waves do not work in crypto-trading. I don't care who wants to pick an argument with me on this topic. In fact, Elliott waves are not used by professional traders -- I know because I am one. We give consideration to Elliott Wave technology, but consider it a ghost indicator. I am saying this because I am seeing so many people using it incorrectly. I follow some that use it and occasionally and they hit it on the mark. By anyone can get the time right twice a day. I am not hating on the technology, I just don't find it useful in the crypto market. The usual support and resistance lines with a fib and a volume profile along with these indicators, OBV, ATR, RSI, Williams %R are enough to get the average investor capable of making a dollar or two in any market and with any product.
I never make busy charts, but I was bored and have not posted a chart on ETH in a while now. So this is what you get from me along with a little bit of forecasting FOR FUN!
[Analysis]
The dead zone!
We can't get above $126.00 -- DOH!
The long-term trend is BEARISH.
I am expecting we will hold $100.
Watch the size of the candles the closer we get to $100. The smaller they get near the $100 area on the 4-hour the better the chance we hold above that point. The BEARS are gonna have to punch through $100 to the downside which (IMHO) will kick off some crazy volatility. Other than that -- we will trade between $102 and $126 until we can break and hold above or below one of these two levels.
[Trading Plan]
I have been accumulating at every 4-hour new low. This is my dollar-cost-average in this trade. The BULLS are gonna let this run again because there is a BOAT-LOAD of money to be made shorting this on the way down. Why would you want to kill the cow when it has so much more milk to give. Pay to buy advertisements, pay some chartists and hype the crypto and run it to 1k, 2k, 5k, whatever K, and short the hell out of it as everybody jumps in not wanting to miss the train! This is not about being right -- it's about not being STUPID. This is why I believe all cryptos will make an unbelievable run again before the same thing happens -- they short it again. I also believe that some crypto-trading companies are complicit in engineering what we have been seeing in the BEAR crypto-market.
DO NOT INVEST MONEY YOU CANNOT AFFORD TO LOSE. There could be a possible short squeeze the end of this month to get investors hyped about next year. Just remember, until more retail investors can get involved in cryptos, we are in a highly influenced manipulated market, choreographed and designed by a group of investors and trading outfits.
** Disclaimer. I have no material knowledge of any inside trading activity, nor has anyone told me what I stated above is true. These are my opinions, and mine alone. This post is for entertainment only. Trade at your own risk.
I never make busy charts, but I was bored and have not posted a chart on ETH in a while now. So this is what you get from me along with a little bit of forecasting FOR FUN!
[Analysis]
The dead zone!
We can't get above $126.00 -- DOH!
The long-term trend is BEARISH.
I am expecting we will hold $100.
Watch the size of the candles the closer we get to $100. The smaller they get near the $100 area on the 4-hour the better the chance we hold above that point. The BEARS are gonna have to punch through $100 to the downside which (IMHO) will kick off some crazy volatility. Other than that -- we will trade between $102 and $126 until we can break and hold above or below one of these two levels.
[Trading Plan]
I have been accumulating at every 4-hour new low. This is my dollar-cost-average in this trade. The BULLS are gonna let this run again because there is a BOAT-LOAD of money to be made shorting this on the way down. Why would you want to kill the cow when it has so much more milk to give. Pay to buy advertisements, pay some chartists and hype the crypto and run it to 1k, 2k, 5k, whatever K, and short the hell out of it as everybody jumps in not wanting to miss the train! This is not about being right -- it's about not being STUPID. This is why I believe all cryptos will make an unbelievable run again before the same thing happens -- they short it again. I also believe that some crypto-trading companies are complicit in engineering what we have been seeing in the BEAR crypto-market.
DO NOT INVEST MONEY YOU CANNOT AFFORD TO LOSE. There could be a possible short squeeze the end of this month to get investors hyped about next year. Just remember, until more retail investors can get involved in cryptos, we are in a highly influenced manipulated market, choreographed and designed by a group of investors and trading outfits.
** Disclaimer. I have no material knowledge of any inside trading activity, nor has anyone told me what I stated above is true. These are my opinions, and mine alone. This post is for entertainment only. Trade at your own risk.
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