This is not forecast unlike my other charts, just an idea/possibility that has a realistic chance to come to fruition.
People called 4k when we hit 6k bottom and where I bought, people called for 4.8k at 6.45k where I bought, people called for 5k at 6.1k where I bought (few days ago, as seen from my post in other chart),
likewise I sold at the tops when people called for moon. So, I feel pretty confident and like to keep all possibilities open and I think 13k is realistic and will be met someday and this third time has the highest chance.
If it fails, then we can look at the gold chart how this will look like, which I highly doubt, since big money has not entered yet.
What we have right now is a bullish structure and I don't think we break red resistance line on the 3rd try, but pullback, then 4th break to target at the end of year or even higher.
People who like to buy lower waiting for another 2-10% discount since previous low will probably miss out to buy at 25%+ premium, that is my opinion. Market doesn't care where your order is at.
Stop loss is required if you trade, if you're a hodler, then this price should be fine to add to inventory (discount % vs ath). Not investment advice, just opinion.
They want low price and say they gonna buy it, once price goes to their target, suddenly they don't want it. Then they want to buy when price is (going) high to a point those who bought low are starting to sell.
Likewise, people all want to buy bottom, but when price goes below what market values, it will pump up 50-75% straight rocket up and price is already way higher than if they bought now. Then they blame exchanges that they go offline, errors or outages, when in reality, they could have scaled in if they walked the talk way in advance.
Better to stick to a plan and leave your order then on exchange or buy every month and don't look back, that way you don't have to say "I should" or blame this or that for your own mistakes.
Most people are just weird.
Then we have multi year(s) bear market, then I will only buy from a website and send it to private wallet once the bottom is set, because when we go in bear market, bear in mind insolvency and lots of bankrupt companies. Yeah, you can make great money shorting to 4.8, 3.3, 2 or 3 digits, but what use is it when the exchange goes down and you lose everything, maybe think of that first. They will become non-liquid or suffer a "hack", good luck trading then.
You really think they will allow that for what is coming soon? I don't think so, the 6k will be held and I stand firm. I haven't been wrong yet on the bitcoin moves and reversals in my posts, when I see turning points, you always saw I've wrote about them in advance, but of course I can be and there will come a time I make wrong prediction(s), so be it if so and I'll tell you that if I'm wrong, I don't mind to be.
Let them short the bottom, I will buy their liquidity. Lots of bears still present.
Again, do 99.9% of traders here on tv realize the importance of 6k? Forget targets for a while, look at the chart and your use brain (forget about ew, chart patterns and the like), what structures do you see formed, that is what matters and that's where reversals or market failures occur.
If you don't know what I'm talking about and you call yourself a successful trader, then you need to reconsider if you have sufficient knowledge to begin with trading these markets and be honest to yourself and ask that question in the mirror. As for me, I'm always seeking to learn, every single day, adapting to market and new technologies, as for most, which I know from experience, they're lazy and only know a few things and are happy with a 60% win rate and that is okay, but please do not come here and say it's impossible, which some weird guys do in pm, I will just instantly block you.
We're talking about the difference between a long bear market (not just "summer") and the continuation of growth and upside. 2 to 2.4k is exactly what the banksters want and even cheaper, then look at gold how much you may earn afterwards compared to '11 to now.
If you're a trader, it's about %, not about price. Don't give them the supply they want so they can be the next MM, I rather stay with the MM we have right now, any day.
LTC at the moment recording ATH on shorts. You know what to do with bottom shorters. Call Bogdanoff ;-)
Charlie Lee (the guy who sold at top 20k, predicted bear market in advance + calling to buy) - See, I'm not alone among the 1% who is bullish :D
"I'm bullish and would buy the low right now."
Use profits also for other markets, this market is done, already ghost town, just wait until last gamblers are liquidated 1 by 1 by marketmaker with empty books (low liquidity), wait until crypto is declared dead by the masses and msm, then buy. No advice, it's what I'm doing.
Oh and CME ends next week, just coincidence how it matches with the chart, right?
Target points to 5.5k, classical triangle breakout to 2k (print chart, then measure distance top to bottom and paste it under breakout).
See also @ https://www.investing.com/analysis/bitco...
I expected at least 7k+ initially when hit this bottom up to ~8k'ish, before pullback then bullrun 13k, but this was the bullish case, not bearish case and this one is on the edge of becoming invalid and with that I mean 5925k break leads to 5845k break, which leads to newer lows.
I should explain "stop reached", since you barely see any trades of mine reach this status if you follow me long enough. I bought at 6.15 up to 6k and got stopped out below 6k, so you see I had extremely tight sl, but bitmex reached market failure and hit my sl at the bottom. I don't know if this coincidence or not, but it smells bad, since no other exchange went there except bitfinex where the moves get emulated 0.5-3 seconds after. So with slippage got stopped out at ~5.95k when the bottom was ~$50 below it @ 5.9k... Yeah, that was a lot of money lost, despite < 1%, but it is what it is.
It was mistake not to set SL at profit area, since bought near the bottom and even now 24 hours later the price is higher. But not looking to buy anymore at this level, the bulls and whales on bitfinex seem all gone, lesson learned and I should have know it from 2 months ago, I didn't thought of it when trading.
The longer consolidates here and shorters taking profit, then bigger the next dump, it''s still missing a good leg down before a bounce.
The dump will not stop if the price will not be pumped, buyers get less money, while dumpers will be in big profit to reload more, especially on long liquidations, which is just free money, hence they can pressure and short the bottom and eventually it goes... down. That's why shorting was and still is forbidden in many countries.
That's how you differentiate yourself from the masses. Then, build a methodology. I've only know a few very successful traders, they all have their own methodology. They do not use just X or Y, but have build a set of their own. In the end, it's about 1) experience and 2) adapting.
Let them short this bottom, I will buy it, the liquidity on the sell side for lower prices is very bad, so they're forced to buy back at higher price plus suffer rollover fees when market is turning slow in summer ;-)