The ultimate fakeout? Or are the bulls here to play?
I'm sure half the planet already knows what just happened in BTC.
In the event, you somehow do not know what just transpired,
Bitcoin pumped from $8,326 to $8,750 in a matter of 5 minutes.
Do you truly think a ton of random people just suddenly decided,
"HEY! I have an idea! Let's all buy BTC. AT THE SAME TIME!'
No.
So, we've established this pump was manufactured.
What was their motive? A bear trap? Doubtful. We held on to
$8,300 support really, really well the past 15+ hours.
A bull trap? Possible! Let's see how many FOMO back in.
I did, I won't lie. I had $300.00 profit staring me in the face
yesterday, but I waited and slept on it to see what it would do.
(Bad idea) Woke up, took a shower and by the time I was at my PC,
Bitcoin pumped OUT OF NOWHERE.
OUT OF NOWHERE.
Just like that people, that's how fast you can get tricked, just like me.
This being said, where can we go from here?
Technically we are still in the bear flag. $8,800 resistance is the top of it.
I would prefer a candle closing ABOVE $8,875 or so to prove we're bullish.
If not? We could see as low as $6700 or so. The length of the flag pole on
the bear flag extends down deep into $7,200 support. If we end up going
south from here, a $6,421 double bottom becomes a real possibility.
Zoomed out:
Zoomed in:
Who will win this war?
We basically either go back to $9,500+ or $6xxx
Bitcoin has to go one way or another, my money is on the bulls.
In the event, you somehow do not know what just transpired,
Bitcoin pumped from $8,326 to $8,750 in a matter of 5 minutes.
Do you truly think a ton of random people just suddenly decided,
"HEY! I have an idea! Let's all buy BTC. AT THE SAME TIME!'
No.
So, we've established this pump was manufactured.
What was their motive? A bear trap? Doubtful. We held on to
$8,300 support really, really well the past 15+ hours.
A bull trap? Possible! Let's see how many FOMO back in.
I did, I won't lie. I had $300.00 profit staring me in the face
yesterday, but I waited and slept on it to see what it would do.
(Bad idea) Woke up, took a shower and by the time I was at my PC,
Bitcoin pumped OUT OF NOWHERE.
OUT OF NOWHERE.
Just like that people, that's how fast you can get tricked, just like me.
This being said, where can we go from here?
Technically we are still in the bear flag. $8,800 resistance is the top of it.
I would prefer a candle closing ABOVE $8,875 or so to prove we're bullish.
If not? We could see as low as $6700 or so. The length of the flag pole on
the bear flag extends down deep into $7,200 support. If we end up going
south from here, a $6,421 double bottom becomes a real possibility.
Zoomed out:
Who will win this war?
We basically either go back to $9,500+ or $6xxx
Bitcoin has to go one way or another, my money is on the bulls.
Comment:
Remember everyone, HIDDEN BULLISH DIVERGENCE.
Comment:
A follower of mine caught something I missed, a fractal.
A very, very important Fractal.
Be careful out there guys, we are holding strong support but getting denied at resistance.
A very, very important Fractal.
Be careful out there guys, we are holding strong support but getting denied at resistance.
Comment:
Comment:
I think I've figured it out.
The ultimate fakeout.
A TON of people believe that if we break down, we're going to $7,200 support levels OR WORSE right? If you take notice of all the charts right now on the front page, it's a toss up. Botje thinks we're going down hard, so does Magic. Dark I believe is right.
What better way to fake everyone out, then to lead them to the ultimate bear trap? As in, take it down to $7.9k, make everyone think OMG THIS IS THE ENDDDDDDDDDD get them to sell then BAM right in their face it skyrockets?
So here's the plan. We're going to break down, but it isn't going to be to the target of the bear flag. We're going to break down until just about $7,900.
Exhibit A:
Exhibit B:
Apparently a lot of people forgot about our long-term friend mister trend line.
A very, very, very, stupidly strong support.
Here's what I think will happen. We will continue sideways for a bit until out of nowhere, the next dump comes. This dump will take us down to our old support of $8,400. People will buy back in. Then we'll go sideways a while bouncing from resistance back down to support, forming another slightly higher low. Then we'll far from there to $8k or so. Go sideways a bit, let the shorts start to skyrocket.
Then, oh no another dump! We're going to $6k!!!!!!!
NOT.
$7,900-$7950 or so is where I believe we will not only turn back around, but skyrocket.
Remember all the hidden bullish divergence? I suspect we're about to see it finally take form.
This is just a guess, but I'm analyzing the fundamentals of the market itself, and it seems like the most likely scenario.
The ultimate fakeout.
A TON of people believe that if we break down, we're going to $7,200 support levels OR WORSE right? If you take notice of all the charts right now on the front page, it's a toss up. Botje thinks we're going down hard, so does Magic. Dark I believe is right.
What better way to fake everyone out, then to lead them to the ultimate bear trap? As in, take it down to $7.9k, make everyone think OMG THIS IS THE ENDDDDDDDDDD get them to sell then BAM right in their face it skyrockets?
So here's the plan. We're going to break down, but it isn't going to be to the target of the bear flag. We're going to break down until just about $7,900.
Exhibit A:
Exhibit B:
Apparently a lot of people forgot about our long-term friend mister trend line.
A very, very, very, stupidly strong support.
Here's what I think will happen. We will continue sideways for a bit until out of nowhere, the next dump comes. This dump will take us down to our old support of $8,400. People will buy back in. Then we'll go sideways a while bouncing from resistance back down to support, forming another slightly higher low. Then we'll far from there to $8k or so. Go sideways a bit, let the shorts start to skyrocket.
Then, oh no another dump! We're going to $6k!!!!!!!
NOT.
$7,900-$7950 or so is where I believe we will not only turn back around, but skyrocket.
Remember all the hidden bullish divergence? I suspect we're about to see it finally take form.
This is just a guess, but I'm analyzing the fundamentals of the market itself, and it seems like the most likely scenario.
