BITCOIN BEARISH UNTIL APRIL/MARCH 2020! (Don't be a sucker!)
I've made this chart mainly so I can keep track of my thoughts and predictions regarding BTC - so don't base your financial decisions on it. Its all educated speculation, with some intuition thrown in.
Overall, I'm bullish on blockchain tech and bitcoin, however - the charts don't lie - and they are appearing to show the direction of the action will follow the classic wall street cheat sheet cycle - right now the bulls are in disbelief, what was the point in this years rally from $3k to almost $14k? - well I believe it was a mixture of whales looking to accumulate the bottom, suck in some retail investors - then dump on them from above 10k. Now that the big money has stopped buying in the same volumes, all that's left is smaller whales, market makers, bots and hopium-filled retail traders - baited to get shat on. Dont be a sucker, wait for a clearer 'bottom'.
If anyone shows you a chart with a smaller timespan than this - be cautious and ask if perhaps their bullish bias and cognitive dissonance is preventing them from seeing the bigger picture. Are they willfully forgetting the run from 1k to 20k, then the drop from 20k to 3k?
Anyway, this is easy for 'me' to say - I am not holding any crypto and do not intend to until I see my targets. Christmas rally cancelled IMO, save yourself the stress and sit in fiat (non-Punto derivative).
Overall, I'm bullish on blockchain tech and bitcoin, however - the charts don't lie - and they are appearing to show the direction of the action will follow the classic wall street cheat sheet cycle - right now the bulls are in disbelief, what was the point in this years rally from $3k to almost $14k? - well I believe it was a mixture of whales looking to accumulate the bottom, suck in some retail investors - then dump on them from above 10k. Now that the big money has stopped buying in the same volumes, all that's left is smaller whales, market makers, bots and hopium-filled retail traders - baited to get shat on. Dont be a sucker, wait for a clearer 'bottom'.
If anyone shows you a chart with a smaller timespan than this - be cautious and ask if perhaps their bullish bias and cognitive dissonance is preventing them from seeing the bigger picture. Are they willfully forgetting the run from 1k to 20k, then the drop from 20k to 3k?
Anyway, this is easy for 'me' to say - I am not holding any crypto and do not intend to until I see my targets. Christmas rally cancelled IMO, save yourself the stress and sit in fiat (non-Punto derivative).
Comment:
13th March - BTC wicked down to 3858, bringing my prediction of $4826 by April 2 weeks early, and 1k lower. ill take it as a win. What happens next, who knows?