I use historical analysis, not to base my decisions, but to see the options laid out on the table. The market is the magician; if you watch the trick unfold before your eyes - before you know it - you missed the slight of hand. FYI, I believe crypto will play a huge roll in our daily lives and I am long term bullish.
I make calls with big play(er)s. There is no shortcut. Trade the chart and do not try to outsmart the market. I'm posting, simply to see if there is value to gain a following or not. We'll see... but might be my one and only post. Those who have eyes should open them.
1. Fundamental Analysis: Crypto is pathetically hanging on with a prayer, in hopes of EFT or SEC approvals, flood of bullish news, and institutional money… literally the exact opposite of why crypto should grow. Most retail traders are bullish “HODL till I die”… Huge red flags.
2. Technical Analysis: The trend is your friend and the stock market is in full bull mode with no sign of reversal. Yet Crypto is in full bear mode with no sign of reversal. Crypto is not the exception to the rule and needs a correction before it can head back up to breaking "All Time High".
What Do I See?
I suspect we will make a wick to $6025 within a few days, then watch for the drop to ~$5900 = bubble has blown = lower lows/lower highs for a bit till we find a NEW bottom.
BTCUSD
Alan Greenspan - You can spot a bubble. They're obvious in every respect. But it is impossible for the majority of participants in the market to call the date when it blows. Every bubble by definition deflates. But when that deflation occurs, it requires a point at which the vast majority of market participants do not expect it to happen. Almost everybody is bullish, expects the market to go up, and is fully committed. At that point if you took a survey of what the outlook was, you'd get an overwhelming positive response the day before it falls on its face.
-racethehair
I make calls with big play(er)s. There is no shortcut. Trade the chart and do not try to outsmart the market. I'm posting, simply to see if there is value to gain a following or not. We'll see... but might be my one and only post. Those who have eyes should open them.
1. Fundamental Analysis: Crypto is pathetically hanging on with a prayer, in hopes of EFT or SEC approvals, flood of bullish news, and institutional money… literally the exact opposite of why crypto should grow. Most retail traders are bullish “HODL till I die”… Huge red flags.
2. Technical Analysis: The trend is your friend and the stock market is in full bull mode with no sign of reversal. Yet Crypto is in full bear mode with no sign of reversal. Crypto is not the exception to the rule and needs a correction before it can head back up to breaking "All Time High".
What Do I See?
- Two large bear flags in a row (orange rectangles)
- Low volume, and lower volatility
- Bollinger is making a final squeeze at the end of each triangle with the basis (median) pointing up
- shorts vs longs repeating
- Bart formations = squeezing w/o volume
- Overall sideways for 1.5 months (green box)
- We have broken down on the (bearish pink) triangle
- Purple grind line at the end of each triangle (currently forming)
- Bulls have much resistance to break through. Bears can just wait it out...
I suspect we will make a wick to $6025 within a few days, then watch for the drop to ~$5900 = bubble has blown = lower lows/lower highs for a bit till we find a NEW bottom.
BTCUSD
Alan Greenspan - You can spot a bubble. They're obvious in every respect. But it is impossible for the majority of participants in the market to call the date when it blows. Every bubble by definition deflates. But when that deflation occurs, it requires a point at which the vast majority of market participants do not expect it to happen. Almost everybody is bullish, expects the market to go up, and is fully committed. At that point if you took a survey of what the outlook was, you'd get an overwhelming positive response the day before it falls on its face.
-racethehair
