Almost the exact playbook as two weeks ago. The differences are three:
This time there's no fake news to accompany the pump.
This time it's only bitcoin that's pumping, not altcoins.
This time it's much weaker.
This leads me to think that it's probably a smaller group of whales, so the play may be weaker. They attacked during the Easter holidays when the big players may be off. Today everyone goes to work, and the market will crash soon.
Four months ago, I drew three thick green support lines. They got penetrated one by one. After this chart, I'll delete the two on top because they're now meaningless; even in the most bullish scenarios they probably won't come into play again.
Too many reasons why it'll fall. Not going to list them here.
Four circles on the chart are where this played out.
评论
⋅
评论
⋅
possibly shooting for the "double top (per the previous update)"?
评论
⋅
dropping nicely. still could do a double top, but perhaps the attempts earlier sufficed (since the double tops get tighter & tighter).
we see each bounce gets weaker & weaker & the number of people in denial shrinks
after a final capitulation we'll see a real bottom where it no longer bounces. maybe it'll be 2.5k, but probably under 5k.
yeah i thought i could see BAT harmonics going down, ty for drawing them :)
SilverStar_Trading
⋅
Everyone keeps shouting "BULL RUN BULL RUN" If they think this is a bull run we have had 22 bull runs since the new year lol Just a correction and we are headed down again
DrJLT
⋅
@SilverStar84, Indeed. I personally believe the bottom should be where there's no more bounce.
chinzon99
⋅
@DrJLT, I agree with you on that front. I saw a post where someone drew a crazy "cup and handle" through all these bounces. Total non-sense. The reason that formation looks as it does is the whole bottom is gradual/flat as you say - momentum slowly returns. Not saying that is what we should look for -just saying it is illustrative of your point.
DrJLT
⋅
@chinzon99, Yes. I also saw that one. That's obviously not a c&h:
1. very steep turns at the "bottom"
2. volume not right
DrJLT
⋅
@DrJLT, also saw someone suggesting that death cross is a "buy opportunity"
SilverStar_Trading
⋅
@DrJLT, Yes sir, and indeed that is precisely what we call the bottom
SilverStar_Trading
⋅
@DrJLT, When BTC is so oversold and NO ONE wants to touch it, thats when you buy
majorlee
⋅
@SilverStar84, been calling 4k BTC since december last year, people thought i was nuts
to be fair tho the market has been showing unuisal signs of bear and bullish behaviour
SilverStar_Trading
⋅
@majorlee, Yes sir! I was calling for $3500-$4500 BTC and I got the same criticism. I know how it feels lol. I don't post my ideas to Tv but I made a rough sketch of where I thought BTC would go a few weeks back and posted and it was pretty dam accurate, still is