Bitcoin shampoo: Head and Shoulders?
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This analysis is for long term perspective: for the next one - two months.
So what do we have here now: I can see clear head and shoulders and three scam wick stop hunts which I will try to describe in detail now.
A little theory below:
My personal view on this whole rally is bearish. Why?
Let's go back two months. It's halving time, bitcoin costs ~9500 for about two months during previous stagnation. New people hear this from different sources, they start buying bitcoin cause everybody is telling them: buy now for 9500, sell in one month at 50k. Some people belive it and even sell their houses to buy even more btc. Cnbc, EVERY news channel, even the dog in the yard is telling that btc will moon aaaand... IT's PUMPING! Crowd bought the news and EVERYBODY is getting rich very quickly! PlanB told that it's Bitcoin red dot stage 3 or 4 and it's moon time! Dave Portnoy bought BITCOIN! He met Trump, so Trump will buy bitcoin too!
Now let's go back to reality.
1) Fear and Greed index is 79. It's extreme greed now, which happened only 2 or 3 times for the last year and a half.
2) There is scam cme gap at 9600, I think it's really possible to go there very soon.
3) There are several stop hunt scam dump zones on chart to shave every moon-defi hamster very effectively, fast and painless:
11100 level - should bitcoin break it and drop will be very fast, what is shown on this chart.
Ethereum 420, same scenario.
8800-8900 and 8500, if we break these zones bitcoin will be able to drop very fast straight to ~7400.
Why do I think that it can drop? Because there are price inefficiency or gap zones which price tends to fill:
Ethereum analogy is at 360:
Eth break 360 we go straight to 300 - 315.
Eth break of 300 we go straight to 250 VERY FAST.
So there is a CHANCE for bitcoin to fall 35% to the next strong support at 7400 roughly and for Eth to go to 300 USD or even to the next strong support at 250, don't be surprised, my mission is to warn you about danger outside.
Please push like button and subscribe! Your support is very appreciated! Have a profitable day!
This analysis is for long term perspective: for the next one - two months.
So what do we have here now: I can see clear head and shoulders and three scam wick stop hunts which I will try to describe in detail now.
A little theory below:
My personal view on this whole rally is bearish. Why?
Let's go back two months. It's halving time, bitcoin costs ~9500 for about two months during previous stagnation. New people hear this from different sources, they start buying bitcoin cause everybody is telling them: buy now for 9500, sell in one month at 50k. Some people belive it and even sell their houses to buy even more btc. Cnbc, EVERY news channel, even the dog in the yard is telling that btc will moon aaaand... IT's PUMPING! Crowd bought the news and EVERYBODY is getting rich very quickly! PlanB told that it's Bitcoin red dot stage 3 or 4 and it's moon time! Dave Portnoy bought BITCOIN! He met Trump, so Trump will buy bitcoin too!
Now let's go back to reality.
1) Fear and Greed index is 79. It's extreme greed now, which happened only 2 or 3 times for the last year and a half.
2) There is scam cme gap at 9600, I think it's really possible to go there very soon.
3) There are several stop hunt scam dump zones on chart to shave every moon-defi hamster very effectively, fast and painless:
11100 level - should bitcoin break it and drop will be very fast, what is shown on this chart.
Ethereum 420, same scenario.
Why do I think that it can drop? Because there are price inefficiency or gap zones which price tends to fill:
Eth break of 300 we go straight to 250 VERY FAST.
So there is a CHANCE for bitcoin to fall 35% to the next strong support at 7400 roughly and for Eth to go to 300 USD or even to the next strong support at 250, don't be surprised, my mission is to warn you about danger outside.
Please push like button and subscribe! Your support is very appreciated! Have a profitable day!
Comment:
It's aqua drop friends, 11100 broken, really bearish news coming, it's always good to have a nice plan before something occurs
