Might as well post a separate idea to spam updates, so I can keep my other ideas clean from now on.
I'll be posting updates about the dumps and bounces on the way down to 7600-7800 (finex prices).
If this gets spammed too much, I'll make another post for what comes after.
We could get a green day today as people that saw a reversal candle on the daily got baited (I think last time they got baited on the 12H chart).
It's super unlikely that we go up now. Probably we accelerate down. $$$
+++ I am not a financial advisor (good luck finding one in crypto). Trade at your own risk +++
I got greedy and went in big so I can't short more now, I got to keep some cash in case someone pumps the price up.
Feel free to sell on a break of the must hold levels and ride the wave down.
Going to grab some popcorn when we get there see the bulls fight for their lives.
Probably going to see alot of messages "Great time to buy" on TV chat if I go look.
If I was braindamaged I'd go spam everywhere that I called it first (that we accelerate down) before anyone else.
No idea how the guy that spams his ideas everywhere isn't banned btw...
Works same as double bottom
2017 uptrend about to be tested again lol
I'm just going to watch this all day long tomorrow tbh:
"Specialists on the New York stock exchange no longer have capital to keep buying stock if the panic selling continues. They beg their banks for money but are denied"
Wait what that's possible? UMARGHAD!
I thought only nobs got rekt.
Can the panic selling on BTC bring it so far low that I run out of cash to keep buying the way down?
Testing 2017 uptrend now. If we pierce it again. RIP. Groooowl
See what happened last time we went below?
So when went past that it crashed 500$ in 1 hours, and then went down some more.
But alot of people were still "hodling" they read about panic selling etc and they want confirmation that it's just a test.
We went up after wards and above and then dropped hard on the line then hard up again.
Then bull run (with some help from whales) till 11788. So these Hodlers, they're thinking "oh nice I knew it we're up again". But now, we are falling and testing this line again, only 1 month later. 2 days ago, and now again.
What are they thinking? They're all looking at it.
Probably 95% of people can't even tell what an indicator is but they use simple lines on coinmarketcap or something.
And if we lose it again, will they think "oh this is just a test again we are going back up"? Or will they think "we're not done yet at all as I thought the 6 feb. It as jsut a dead cat bounce" and everyone will sell massively and the price drop hard, possibly even more than 500$ in 1 hour?
The herd that bought Bitcoin in 2017, they're not day traders, they want to buy and HODL and become "crypto millionaires", and they'll all sell at the same time.
"I am a smart investor, I saw a hidden line. I will stay in as long as we are above this line. When we go below, np I'll sell then gg I'm a pro ^^"
Except there's millions of people thinking the same exact thing...
So the lucky ones sell first and think "I'm a mastermind who called it better?"
And then the less lucky ones get there a few minutes late, price already dropped 200$ "I KNEW IT I KNEW IT WE'RE CRASHING I HAVE TO SELL FAST AS FAST AS I CAN BEFORE IT GOES TO 500$"' and they cause the crash... The lower it goes the more scared people are and get shaken off...Till there's no one left.
Most major stock exchanges use trading curbs to throttle panic selling,
providing a cooling period for people to digest information related to the selling and restore some degree of normalcy to the market.
But crypto unregulated exchanges don't have this :>
Let's make some money tonittteee!
Why did I not short more at higher price? Why did I only go 25 leverage? :(
You can always make more later. Crypto perma volatile.
For the twenty years ending 12/31/2015, the S&P 500 Index averaged 9.85% a year. A pretty attractive historical return. The average equity fund investor earned a market return of only 5.19%.
Why is this?
Investor behavior is illogical and often based on emotion.
No point reading the rest XD
So if people make less, smart people make more, or way more :> ez
Not sure the .1% difference is worth all the stress and panic lel
Well we could consolidate a few hours longer above the line... Nah probably not
So ridiculous. If God watches he just gives up on humanity "ok I am god but I failed here. Damn, better try again somewhere else"
Ok so basically it's simple, the capitulation will come when we see a monthly selling volume of 5Million.
I ALWAYS LOOK AT RSI. BUT NOT THIS TIME. THE ONE TIME I DON'T LOOK AT IT THERE IS A SECRET HIDDEN JUICY BONUS.
Would have shorted more at 9400 if i saw that too :(
Good I spammed this idea nicely :) Love it
I'll buy there. Going to be risky buying dips looking for the bounce above that, but nice guy RSI if it gets too oversold will help alot here.
If we're at 6000 with a 1HR RSI at 15 it's ok I can buy we can't go much lower without bouncing and then even if it gors below I'll simply buy more.
If we go sub 6000 we won't simply drop to 5600 trust me XD
Last time we spent 2 weeks on that line so idk what I'd do...
Bitmex would kill me with fees. They give funding to losing positions that end up being rekt anyway, and take huge fees from the ones of the winning side and sometimes close winning position to liquidate a loser.
I guess I can just use kraken, and short with high leverage on bitmex if there's a rly good opportunity.
I'll close short there unless I see signs of reversal before.
Then reopen short up we bounce >10% easy, but won't go long, too risky for me.
I'll have some Bitcoin on Bitmex thought, so I'll kind of be long anyway.
Kewl maybe I can short more at 9k
I learned that futures got first used during tulip mania, they first brought it into a higher ath, just like with Bitcoin, and right after Tulip price crashed all the way down.
BULL WHALE IS DESPERATE. 'BOUT TO CAPITULATE!
DIE DIE DIE groooowl
If they don't survive now, it's capitulation basically.
Should have kept more on the side for a last stand.
First the whale from Gdax that moved makes his last stand, then the people shorting at 8500 got reKt and as all the stop losses got hit the price went up since they all have to buy to close position. And a few idiots FOMO'd.
is that it?
The whales that went to gdax to dump on the desperate bull, how long fpor them to go back to finex bmex okex and start dumping on hipm again?
They got to come save us fast, before I get liquidated !!!
On a positive note LTC looks like it's showing signs it stopped caring about BTC.
I haven't said a lower limit for people stupidity so anything's possible in my mind.
I bet it's a "great time to buy"
I'm so bored of waiting, and eating fees the longer we wait... Bmex...
Best is probably to just sit it out in cash, or have a really small position.
Just realized how retarded bulls are.
Lmao. If they'd let it go down as it should it would actually go up just like they want, faster. They try so hard to buy time for whatever reason oh my oh my so many shillers, so many "experts" posting about possible reversals and signs of strength.
And they'll end up selling at a huge loss and feeling stupid and never telling anyone what they did.
I'm just too bored to keep following it, I just go set an alert on 9800 and 8500 and ignore it...It's getting painful to watch, the misery, the desperation, the non stop shilling...
Downtrend is at 10900 I think something like this
This can only end well :)
Going to be tested as support next.
Guess it could be coming in the next hours.
We could go retest the downtrend the next few days.
I'll just get liquidated and start a new short up there more aggressive...
We look like 2014 just before plunging down.
Don't think the whales would let us go past 10500 or something...
Can't tell anymore...
I will short more if we go that high move my liquidation up a bit.
My head hurts too much to do proper thinking.
I'll start adding to my shport positions above 10k a bit, and if we're overbought and different factors show it's soon over I'll start going super aggressive manmode.
So I'll short till close to 5k, and go long at 5k, if we go below I'll buy more.
I skipped work today, probably skip tomorrow too I'm too sick, it's good that way I can be ready if something happens.
It really should all happen this week.
The whale that pumped the price bought at 8350-8600 more or less, maybe some higher too, so for now he can sell as long as he's above his buy price.
We can still go 10k+
If we lose that we could go far down.
I'd like to short some more BTC up there at under daily MA50 at least but doesn't look like it's happening. Can people fall for it again?
If we go under again I guess BTC is toast we going to 6k bounce then 5k bounce.
After 5k bounce I might as well start spam box episode 2.
Log entry stardate 12 March: Some more TA authors here capitulated already, they won't be posting anymore (some left at 20k crash).
Seems to me the best ones are the all time top authors, and the people that arrived after January 2018 :D DCFreak D4rkenergu etc Maybe MPC but he has issues :D And charts Head and Shoulders in crypto.
All the TA guru's that got here when BTC was bullish and got lucky and are perma bulls are pretty bad tbh...
Ofc the herd rushed to buy like 10 million Bitcoins or something half the supply in
3 months. Who's going to make the price climb when they all bought and hold? XD
Same line on mtgox:
Bitstamp that were here before Bitfinex:
Let's not have a whale pump the price again...
People probably won't fall for it again tbh...
We can see that even if BTC falls fast, the absolute bottom would be 3000:
If BTC reaches ~ 3000 dollar around the 25 May, I am a magician :D
BTC fell from the 200ema daily, its techincal target is 8600 (doesn't mean it will be reached):
Once we go under 9000 I think we shouldn't go above it again, unless a whale pumps the price...
The Moving average's are going down and they act as strong resistances...
The authors that shill Bitcoin and say it's secretly bullish and will "wake up" and explode to the moon tilt me so much. As BTC clearly heads down, they get desperate and start spamming posts where they say "it looks bad but we're actually going up trust me". They are bad and bought high and now they're afraid and want to shill and bait people to buy...
I want to go insult them, but they'll report me and I'll get banned.
From user bartdemaere:
New liberty standard: We Sell 1,578.76 Bitcoins for $1.00 USD Plus PayPal Transaction Fee.
Where can I apply? I would like to buy 10$ worth of BTC.
Unless we actually go up to 10k, once we lose that (close below) and keep going down we finally stop going back and forth.
It's soon going to be the time when the whale usually dumps maybe something happens then. If he doesn't dump it could go up to 10k, would be a good first entry for shorts.
Pretty boring day.
A bit more about market manipulation:
I'm getting ready to short at 10000+ we can go there easilly...
The thing is the FBI etc or whatever is responsible for this tries to fight these pumpers, but even if they set a limit on an individual groups can still be created and they will all buy or sell at the same time. I don't think the regulators governments have been able to make much progress in the stock markets... Sometimes people get arrested but most of the time they aren't...
Not sure people fall for it again...
It would seem we broke below the bear flag and pennant (again?) and we won't go up before going down.
It's not very precise on the 12H chart, when we go to a lower time frame for more precision, this is what we see:
Now I got a first target where I lock in profit at 7900 7550 or 6900, it will all depend on rsi and how fast we drop all that stuff.
DCFreak has a 7550 target:
The full target of the giant bear triangle or wedge or whatever way we see it is 6k, but it should stop on the way and bounce at least a little, depends how hard people panic. And it's not saying we stop falling or bounce at 6000.
Was the only bull sign idk what they have left now, just shill and lies and playing stupid
Another -25% day?
It'll be time for the spam box episode 2 if we lose that support.
Could fall down pretty fast if we lose that.
"People just want to sit in their pijama's and get free money"
"They're bad really dangerous"
This better not last 24 hours this time thought XD
The fees are high and blow, but we had a very long period where the longs paid the shorts before.
I think the fall is happening at a normal rate. Should fall to 2017 log uptrend this evening to tomorrow when the whale that drops the price every day at the same hour does it again ;)
After ofc the support probably fights for its life a few days before we go under. By then, hopefully the longs start paying the shorts again.
I don't know who's crashing the price but every single time it happens at the eaxct same hour (1 hour early or late today because of daylight saving time)