Hello traders,
First of all we have had glorious ride with BTC. I have painted yellow circles for important events and arrows for directions. BTC shows serious buying exhaustion. Volume is going low and risk is going on. weekly RSI is around 70 (overbought conditions) . 12k attempted few times without luck. Bollinger bands maxed on weekly frame (very strong indicator).Ether's rally was big factor for Btc's upbeat movement but they are also due for correction. All signs out there. We are either local top or very top of the chart. For healthy growth we must correct to 10k-11k range otherwise breaking 12k level with help of whales can push this to 14k level and dump so hard as always(7k to 9k level). I have exited my trade at 11910 usd and I am happy with the profit. Again risk is too high for me to stay in the trade and I will wait for better entry point. Being too greedy sometimes your biggest enemy. we must allow new traders to enter at the safe point of entry.
1. scenario correct 10k-11k then go back up 12k form double bottom (confirming top formation) (most likely the case)
2. scenario correct 10k-11k then go back up to 14k-15k range confirm mega bull run (most desirable)
3. scenario correct 11k then try to reach 13k risky but possible
4. scenario push up 14k then mega dump to 7k-9k range very bad news only whales will make money as usual
5. direct dump or slow decline to 8k-9k (confirms bear market)
Good luck to you all.
peace
First of all we have had glorious ride with BTC. I have painted yellow circles for important events and arrows for directions. BTC shows serious buying exhaustion. Volume is going low and risk is going on. weekly RSI is around 70 (overbought conditions) . 12k attempted few times without luck. Bollinger bands maxed on weekly frame (very strong indicator).Ether's rally was big factor for Btc's upbeat movement but they are also due for correction. All signs out there. We are either local top or very top of the chart. For healthy growth we must correct to 10k-11k range otherwise breaking 12k level with help of whales can push this to 14k level and dump so hard as always(7k to 9k level). I have exited my trade at 11910 usd and I am happy with the profit. Again risk is too high for me to stay in the trade and I will wait for better entry point. Being too greedy sometimes your biggest enemy. we must allow new traders to enter at the safe point of entry.
1. scenario correct 10k-11k then go back up 12k form double bottom (confirming top formation) (most likely the case)
2. scenario correct 10k-11k then go back up to 14k-15k range confirm mega bull run (most desirable)
3. scenario correct 11k then try to reach 13k risky but possible
4. scenario push up 14k then mega dump to 7k-9k range very bad news only whales will make money as usual
5. direct dump or slow decline to 8k-9k (confirms bear market)
Good luck to you all.
peace
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1. scenario suppose to be double top formation. typo error there.
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soon we will see the ugly side of trading !!! Lets see what is new for Btc ... UMMM big nothing. Maybe somebody wants to create some liquidity before the the big dump.... we all experienced this before. I would not be surprised if they blame for COVID situation again. Go whales go or should I say faulty exchanges?!. 1-0 for whales.
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well this is the ugly side of the trading that i was talking about ..dumpy dumpy with liquidity. Bitcoin Gods at it with their dominance game. I hope you did read learn a good lesson! Now alts coins will take a very big hit over the correction!!Fasten your seat belts!!
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I still can't believe some people still bullish on this action. Does not make sense we are up 12k range. People allowing whales to dumpy dumpy again. Fun to watch the price action.
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Another dumpy dumpy. We are not done yet! Again me must correct deeper! number one rule if the news is good , it is time to be scared! Experience thought me just that.
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And alt coins took very big hit as i mentioned yesterday! They will continue to drop sadly but this is necessary for correction!
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btc's domination move continues as usual first faster climb up following with slower decline to damage alt coins. Btc truly became tool to adjust crypto markets rather than utility coin. Eventually this game will end with Btc's sharp drop as usual but they are waiting for people to give up their hopes on alt coins first which takes time then soon enough when people starts calling correction is over that is when whales and exchange corps hits the hardest. Again I will not enter this market before 10500 (No Way !).Before then can go to the moon and come back.I do not care. I will not just join here.If some reason if they pick up the speed and go back up it will result in huge dump instant at the point they choose which you will not make make money anyhow :) Even when we come down to 10500 I will reassess the market and make my finally decision to stay in or wait longer.
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we had touchdown to 11.111 usd(perfect round number) .Currently is back up 11400 range now people thinking that correction is over. As a matter of fact it is just starting. Alt coins demolished and they all lost their major arbitrary bounce back point for leverage traders. it means that leverage trading will not help them any longer. Now the very ugly part about to start. Now you should wear seat belt and be ready for anything really. I warned about this before the most popular TA's in this space and now they are finally agreeing but only 9 days later :)
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Well one more thing I forget to mention . Since alt coins hit hard past few days and already destabilized , now Btc theoretically will dive down perhaps even faster then alts in this leg of drop. I don't think whales and faulty exchanges will miss this opportunity. especially watch Bitmex... They need to add cheaper coins for their insurance funds.. :)) Will history repeat itself again ? I personal answer is very very likely . Btc hovering around 11400 range
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Whales are still using Ether to keep Btc alive. But ultimate questions is how long they can sustain this action?This question is self explanatory. They adapted this trick this year alone. They wanted to dump their Btc and ether at higher prices but of course traders are not allowing this any longer at this price point. If we do not go up significantly they can not dump so fast therefore we can create actually create healthy rally.
Ps. amount of btc wallets holds 1000 btc and over in historical record high point. this alone must tell you something. Do not feed them before healthy correction. We rose from 3500 to 12500 without significant correction. this is not how trading works. If we do go back over 13000 this will have serious consequences over the regular traders. Prolonged bear market and mega dumps as such
Ps. amount of btc wallets holds 1000 btc and over in historical record high point. this alone must tell you something. Do not feed them before healthy correction. We rose from 3500 to 12500 without significant correction. this is not how trading works. If we do go back over 13000 this will have serious consequences over the regular traders. Prolonged bear market and mega dumps as such
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We going to correct no way off escaping from it today tomorrow next day. It will happen. In this example clearly show what the overfed whales can do to Btc. This action resulted 2 years of solid bear market.
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now this is something for sure ! exchanges getting desperate and Bitmex at it as usual. They blow the long and short high leverage positions. As of today I name this move for the first time ever "dirty Sanchez"© as in dirty move synonym
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Some interesting stuff. We have tried 11100 range twice and it did not break .For the fun stuff 3. scenario version may be possible. So they can dump BTC on average traders efficiently:) it highly unlikely scenario but there is still small possibility and especially gold going up like madness may trigger old timer BTC buyers 45-65 age range. I am still going to sit on the sidelines and watch the action. Currently BTC hovering around 11370 range.
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So be careful trading here especially with high leverage.We could go either way to 10k or 13k. it may very well be fake out before the big drop. it will happen one way or another.
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Another giant warning here. My previous warning was correct so I am giving you second one. Right now in the market ether rally triggered Bitcoin again and other altcoins too. As a matter of fact this is driving by whales and some exchanges like bitmex at maximum manipulation. Many short position opened around 12k range. And bitcoin acting like it is slowing down however ether miners did not take profit as of yet. Their greed beyond anything I have seen. Ether unlike bitcoin can be printed indefinite numbers so there is no limit to this madness. This means ether will suffer from inflation continuously. Scenario 1 double top could be very real at this point however exchanges will try to destroy longs and shorts at once . Large leveraged positions definitely not recommended. However we could go for scenario 3 they may try to reach 13k range destroy shorts and then we can go down with a big bang. Weekly rsi crying out loud. This is not natural rally. I have seen many rallies only difference we do not have the right volumes to match up with overbought rallies. So we are in extreme manipulation conditions and this is very very very dangerous! Only reason Btc going up because of ether . Ether is due for massive crash at this point not correction. But i assume they will try round number $500-520 range and go down to $100-200 range again. DeFi can not save them for long...
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Again this is not bitcoins rally , it is ether's rally. Bitcoin just tagging along. For ether's case you can not paint silver in gold color and sell it as pure gold. We are not ready for massive rallies.ether is worth $300 maximum next year will be 250 next 200. unless they limit the supply and make it like bitcoin model.
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well crash did happen a day sooner than i was expecting but it did happen regardless. There you got fed the whales once more time and they dumped again.This is why you should never allow them to go up without truly correcting. double top confirmed unless miraculously we go back up 12800 by tonight . They caught me in micro swing long position with ether. I was looking to make few dollars instead I lost all of my profits. Not a big deal at the end of the day but getting robbed in daylight is not my style. If you still think that we going up to 20k be my guess and buy it here :) As I said they did destroy all the long positions without exception . This was the lest desirable but most likely outcome. now We can say hellow to $8000-$9000 range before any major bounce.
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Avalanche already started as I said before this was big manipulation and we did not have the volume to match this strength. We are currently exploring 10500-10050 zone. This is minor bounce back point but seems unlikely to hold but again we need to observe the conditions. If this arbitrary bounce back zone breaks ,panic will kick in we are going directly 8k-9k zone( I am not using the term support or resistance zones! Because for BTC this line does not exist only imaginary made up figures by some inexperienced cryptocurrency TA's uses this term(it does not mean that they are not expert but their knowledge is not sufficient for crypto world).However for some reason if this line holds we may see new heights but again this is under %5 possibility. So do not keep your hopes high but be ready. Most likely we will need to wait for 8k-9k zone for good bounce to 9k-10k then we will need to retest 8k-9k zone once more so we can make sure !
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One more giant warning! 10050 - 10500 zone still hold but barely. This is getting very dangerous because next stop is 8000-9000 zone however likes in march we may see extreme sell off. This is very unlikely but I would give %5 of a chance. In case of extreme panic we may even reach to 6500- 7000 range like in march. take a look at this chart and observer it yourself.
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If we do reach 6000-7000 range for some reason we can bounce off from this level fast like the last time and can still reach to 14k in 4-8 weeks time or be extended period of bear market. This is not scare you in advance but mostly preparing you for the doom case of the extreme scenario.
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At this point bears toying with bulls. Volume created yesterdays mini climb was generated by short position profits and mini manipulation bull trap . Think of this as tug of war. If you use you energy at the beginning you will have no power to pull the rope . Bulls charged too early and lost their main power and bears forcing to go down under 10k at steady peace. Again 10k did not act like arbitrary resistance and surely it will not act like arbitrary support point. Many bulls already entered positions above 10k range and many of them do have auto sell orders around 9800-9900 range. Next push of bears will trigger this auto sell targets and push us down significantly. Even if you are perma bull patience is more important then trying to hold the price action at fixed point.
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As soon as i write my last comment btc dive down from 10200 to just above 10000 range. This might the last time we are looking at 10 k figure for a bit till we reach 8k to 9k zone at least.. once we reach 9.8k auto sell orders may kick in one after another. No you do not need to be genius to know whrre this figures are. Humans are predictable ;)
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I still don't understand TA's talking about 10k "support" must be protected sort of language. All I feel like comfortable bears getting ready to launch a power strike at this point. We still did not reach 9700-9800 no return point as of yet and climbing towards 10400 zone with next to no volume. With this volume it is could end badly for bulls but yet everybody seems to agree that they can defend 10k line otherwise we are bearish. I personally can not see us going fro 10k to 14k as of yet but it is one of the slim possibilities.It seems nearly impossible with this next to nothing volume. At this point I am just hoping that we won't go below 8K-9K range. It is clear that Btc gods preparing for massive move but my personal opinion is to go down sharply after preparing rsi for free fall.
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Yesterday we nearly touchdown to 10600. Again this is heavily manipulated action. Arhur hayes and his manipulation crew on Bitmex trying manipulate price action. On his twitter he claimed that yfi coin will reach 100k range and also yfi II coin reaching around 6k range. I bet he bought big chunk of that coin waiting to dump on people patiently(just an assumption). Whenever this guy says something Btc get manipulated heavily. If we exceed 10800 action I may try to change my stance to neural from bearish look. However at the end of the day this is all part of big manipulation. Many Ta's claiming that people are accumulation over 10 k range.. why in the earth smart people would do that? they already accumulated under 5k and we know for fact we will go back to sub 10 k range one way or another.. why would you accumulate large amounts of Btc now?Even if we go up to 15k that is 50% maximum profit but on the other hand you can lose 50% in no time as well. My personal opinion is we are ready to dive again at least another 2k. But they need to distribute the coins in slow pace before we go down sharply. Rsi adjusted accordingly and we are ready to go down...ALt coins like ether already giving us strong signals.
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looks like we going follow the red line and test 12k .If we break that 12k , 14k will be in reach. I am now convinced and re-enter my position @10750. De-fi non ending hype and alt coins strengthens BTc positions. So at this point scenario 1 or scenario 2 will be in play and both options should give us some profit. Still risky but I am now convinced.
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my previous idea retesting 12k seems to be happening as I initially assumed. We are around 10700 usd at this very moment. If we are able to break past 12.5k 14-15k will be possible. if we can not break past 12k we must try 10k again.
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I have been reading about Arthur Hayes and Bitmex manipulation crew being penalized. This is the best thing ever happen to crypto world. As a result of this action big exchanges like Binance will also change their ways before they go full corruption. I am finally bullish after this news :)
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I predicated everything perfectly so far. We are following pink dashed line. This is the most important decision point for btc. If we can break 12.5k usd we may advance towards 14-15k region. If we can't break we may be force down to 10-11k range again but unlikely. However likely and most logical scenario for the short term is to try to stay about 12-12.5k range and consolidate there. Alt season must arrive otherwise btc can not climb up either. After Btc's rally settles over 12k range , altcoin season is pending and will be strong one! I would not miss it :)
Trade stängt: målet nått:
it is safe to say this post was 100% accurate. I could not guess this any better If you follow this chart you probably made nearly 100% profit. I will post a new Btc chart in few days...
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By the way we confirm mega bull run. From this point anything crazy can happen. Fasten your seatbelts