imagine for a second that there was a massive bitcoin etf coming into the world soon, and you were a large institution.
would you rather?
A. buy btc for 60k
B. buy btc for 25k
------------------
despite the recent price action, and despite all of the "news", a part of me still doesn't feel right about this rally.
there's just something really ominous about it, which is hard for me to explain.
i've shared my bullish bias on crypto, and i've shared my bearish bias's as well.
after weighing the scales, i've got to lean bearish up here - simply because of how corrections work, and the devious market psychology that comes with them.
-----------------
i never really did think that the larger wave 4 was in due to the huge time imbalance between w2 and w4. some say that time doesn't matter, but in reality time is all we really got.
i'm calling it right now, when btc pokes that upper 57k region, it'll be equivalent of the moment of when the titanic hit that iceberg.
you see, i'm not a bear nor a bull; i'm just that guy who plays a violin on the titanic.
-----------------
wave C target = 57658
wave 4 target = 25.5k.
🎻
would you rather?
A. buy btc for 60k
B. buy btc for 25k
------------------
despite the recent price action, and despite all of the "news", a part of me still doesn't feel right about this rally.
there's just something really ominous about it, which is hard for me to explain.
i've shared my bullish bias on crypto, and i've shared my bearish bias's as well.
after weighing the scales, i've got to lean bearish up here - simply because of how corrections work, and the devious market psychology that comes with them.
-----------------
i never really did think that the larger wave 4 was in due to the huge time imbalance between w2 and w4. some say that time doesn't matter, but in reality time is all we really got.
i'm calling it right now, when btc pokes that upper 57k region, it'll be equivalent of the moment of when the titanic hit that iceberg.
you see, i'm not a bear nor a bull; i'm just that guy who plays a violin on the titanic.
-----------------
wave C target = 57658
wave 4 target = 25.5k.
🎻
Comment:
12% of all the btc longs were dumped today.
the big players are getting ready for what's to come.
Stay safe peoples, and don't forget to set some stop losses ~
the big players are getting ready for what's to come.
Stay safe peoples, and don't forget to set some stop losses ~
Comment:
Order cancelled:
The rejection wasn't strong enough from this 0.618% extension, which means that I was wrong.
I have one more case that I've been working on for awhile, and i'll share it tomorrow.
-
My next short entry will be at 60k though, just in case I don't get my post out in time ~
I have one more case that I've been working on for awhile, and i'll share it tomorrow.
-
My next short entry will be at 60k though, just in case I don't get my post out in time ~
Comment:
a lower high + encounters my level as resistance yet again.
think it has enough momentum to push higher,
or is it violin time?
think it has enough momentum to push higher,
or is it violin time?
Trade closed manually:
they said it wouldn't happen,
but boy
it did.
but boy
it did.
here's a quick update, If btc breaks above this 0.618% extension, the next target is the 100% extension which sits at 72k. this would give us a simple expanded flat for this larger wave 4 correction.
also, to anyone who thinks i am bearish or whatever, i'm not bearish m8, this is actually incredibly bullish. just because price comes back down to equilibrium, does not mean the world is going to end. this would simply set us up for a massive run to over 200k after ~
i get that the moonbois want that instant gratification of price just going up in a straight line from here with 0 pull backs along the way, but that's just simply not how the markets work. i'm not here to convince anyone that this is what's going to happen, i'm just sharing my thoughts on the market. please don't use my posts as financial advice, i'm just a regular human with some regular ideas - just like you.