Long

Bitcoin will never fall below 5000$ and here is why

Updated

Bitcoin had a little shakeout fueled by bad news and some people started calling for 0.
This is very unrealistic there is no way Bitcoin could fall that much and it is mostly childish trolling or FUD.
There are very solid reasons as to Bitcoin CANNOT go below $5000 and I will expose them in this idea.

Here is why Bitcoin cannot fall below that crucial level:

A convicted scam artist told me that if I gave him all my money over the internet he would grant me access to some numbers in a database without these pesky laws and "regulating authorities" interfering, and that would mean freedom to the people and make me rich as long as I did not sell and convinced more people to give money to him.
He said not to listen to people calling this a scam and that it made no sense, as the way this works is very complicated and revolutionary, critics just do not get it.
"This sounds very much like a ponzi"
SILENCE! Amateur. You clearly have no understanding of the complex mecanisms at work.

We lost this trendline line support like it did not exist:

The week closed below so...

Next line to watch:

On the BLX chart I have a reversal area on 4666$ exactly using my own tools and TA.
Here are some of the things pointing there.... Since Bitcoin is a ponzi with no value whatsoever and heavilly manipulated it is easy to know where it will bounce exactly. 4666$ (if it bounces). Hoping it does not bounce on 5000$ first because waiting is boring.

Black Friday, get your Bitcoin -75%!

BITCOOOOONNECT!

Note

Oh if Wall Street is willing to work so hard to crash crypto prices they must be very very interested in it. Extremely bullish. (I am so good I should become a pro crypto shill and get hundreds of thousands of idiotic followers :p)

Note

The theory that people will flock into numbers stored on the shittiest database ever as a safe haven in times of financial turmoil still needs some fine-tuning.

This killed me.

Note

I would like to add that a reason why I changed my target from 4800 to 46(66) is that when anxious bagH0DLers see that 5000 does not hold, the price will fall more than just 200$. But not as much as $1000 as 4000 has the same "power" as 5000 (How little I care if that does not make sense I do not answer to anyone :D) and 333 is 1/3 of 1000.

Alot of people are talking of a retest of $6000. We are still waiting for gold to retest 1550$ 5 years later. I sure am not going to hold my long (if I get filled) till 6000$ if price reverses before that. 6000 probably a good price to open a short, but don't count on it too much.

Note

Poggers :o
"If Bitcoin falls this low I will load the truck I will buy the entire supply"
Ok, where are you? Filling ya bags?
If BTC bounces on 5000$ on Bitfinex I am calling the cops.

Note

The last stand fell.
Price just fell below 5000 on super manipulative exchange Bitfinex.

Hey, remember when Charlie Lee dumped his Litecoin on idiots while wearing a HODL t-shirt and making videos about Bitcoin "up up up to the moon!"
This guy is my hero and Charles Ponzi has alot to learn from him :'D

Note

Please tell me that was not the bottom.
I am ready to catch this falling knife with my tongue but I want it slightly lower.

Note

Bitcoin SV mined a 38 MB block and this is supposed to me something and crash half the crypto space. Idk people are getting excited. Doesn't seem such a big deal. Well, we will see.

Trade active

Note

Well I was right with 4666$ 1 dollar off on mex, but that was a tiny bounce.
Next support is bouncing harder.

Note

If we go below 4000 I am out.
If we go straight to capitulation (wtf...) going to go very far, down.

And on hourly

Side by side on 4 hour chart

Note

I am aiming for the moon here....

We will know the outcome in the next hours...

Note

According to genesis trading CEO, he has data showing that the "old skool true HODLer fellowsz that will never sell and laffs at the small dips since he is still up 1000%" that got in early 2017, you know, the kind of idiot that got lucky and tens of thousands of people follow on twitter like brave little lemmings, are exiting the market. They made some money, but just like dumb lottery winner that do not understand what money is (its not candy) most of them are going to lose it all. You only get lucky once.

This is the first time I see Bitcoin getting to a major level of support and not making a v shape recovery... maybe another little dip before bounce... idk.

Going to open a short on kraken for the longer term & also to have less exposure long, I do not like this.

Note

I feel better, these morons are selling at break even only.
Got a little scared for a second.
It's all good then.

' According to Moro, retail investors who bought at the end of 2017 led most sell-offs earlier this year. Now, investors who got in at the beginning of 2017 “are getting close to their cost basis.” To recap, bitcoin propelled from around $1,000 a coin in 2017 to nearly $20,000 at the end of the year. The tail-end of 2017 marked the entrance of hundreds of thousands of retail investors. '

Note

There is only 2 options for bronze trash:

- Let your winner run and laugh at those that sold at 500% profit because they sold too early. When your winner falls back to your average cost, then you sell to break even.

- Goes against you as you enter. You let it recover and laff at weak hands, once you are almost down 50% you sell, psychologically you want to lose less than 50% of your money and retain "the majority of it".

In both scenarios, bronze trash yasuo main will blame his teammates (other investors like him) for being weak hands and bringing the price down, will blame "big money"/jews, will blame the government for "letting this happen", will look extremely stupid and be unaware of it just like they were unaware of it before selling.

Good lesson this ponzi, learning alot.

Note

Bouncing. Easy knife catching.
Want to hear a joke? My short got margin called on Kraken.
Must be because of these idiotic EU regulations, I forgot -.-
Man they are so stupid... Well does not matter I will abuse these dumb regulations as much as I can I got a trick to make more money thanks to them.

You are safe nowhere, heard the Okex story? This ponzi is looking much and much less attractive to trade, even if you can predict the future accuratly...

So the price bounced, some people say they wait for volume looking at their exchange, but the golbal volume seems enough to say "bulls are in".

Note

Hesitating around the 4666 level :D
Eyes open for a break.
I want to increase my leverage *100 (now that we are far from entry) and add to my position as it goes up.

This is quite a big one...

Happened with weekly too...

The harder it falls... the harder it bounces...

Cannot be sure this is the bottom, but I think it will be... a nice denial bottom with a bounce of 50-100% And then go down again to pani capitulation...
From 4200 a 50% bounce is 6300. 9000$ would be a 115% bounce.
I think we can aim for 6000 and start looking for signs of reversal once price gets there.

Boi catching falling knives is stressful. Jk didn't break a sweat.

Note

Go up from here or 3k, whatever.

Note

The US pre market is green, and the FED have said that they wer enot in a hurry to raise interest rates. Confidence can come back.

Out of a sample size of 15, each time Bitcoin had big selloffs they never were more than 2 big selling days, and day 3 was the start of a big bounce. Will today be the exception?

Big dumps:

Bitcoin is fighting the 4450 price level, if it goes up the next challenge will be the 4750 price

If the bulls can take out 4750, price should be able to make its way to 5500, I might take profit so I can go long more :}

Also have to watch these:

Bears have gotten excited again...

Note

The revolutionary ponzi scheme is tightening.
Potentially going to run people's stops and then rally, typical for this ponzi.

This can't last too long...

Note

Latest news: french tobacco shops are going to sell Bitcoins, against central bank complaints :Bitconnect laugh:
(They sell drugs - tobacco sometimes alcohol - and gambling tickets - loterry or crap you can scratch, also horse races betting)

How fitting for this "investment" to end up in betting shops.

I am not making this up...

Note

Sent some real money back to crypto, in case we dump to 3000 soon.
It can't go there this soon can it?
I
almost
died
of
old
age
waiting

And now it happens instant? Lol. Give us at least 1-2 more days go test resistance then dump Monday.

These lemmings man...

WHY
IS
IT
THE
EXACT
SAME
NUM
BERS

Why is the ponzi doing this? Why is it so obvious? This must be a trap they are plotting something.

Note

Before the long boring sideways that lasted months, Bitcoin would regularly get pumped on Sunday. Hoping this happens, once it does, pump chasing lemmings if they are still alive will push the price, easilly to 5500 where we can use our long profit to short.

Of course, THIS below is also a possibility...

I went long @ 4500 for a blip... why oh why?

If BTC goes to 0 in 2019 I am throwing a party and every one is invited. Will rent a nightclub. And bodyguards to protect against salty bagH0DLers.

Trade closed: stop reached

Dammit.
Maybe a little bounce on 3600, waiting for 2500-3300 area thought.

Note

3600 might see a bounce, if so then bad luck. Odds are not good enough imo...
Are we capitulating here? (2017 "early investors" capitulation, to be followed by 2013 capitulation)

Note

Made a private idea to follow this ponzi imploding...

Bitcoin capitulation trade * very risky falling knife catching

Note

I have better things to do than watch a blatant ponzi/pyramid/mlm/whatever you want to call it.

If I do not do TA on some stocks I am going to miss out (again)

So I published a script to tell me when there is massive selling:

Might miss out, whatever.

Be honest I missed this one? Or is it going to go lower? XD
Not the greatest opportunity thought.
Eksdee waiting months for a trashy ponzi to make its move when there are literally better opportunities every single day.

Note

Someone is saying these are wash trading bots keeping the price from collapsing.
Would be funny to know if this is true, don't care enough to try and check.
You can be the judge of that. Looks like so much is made to prevent that ponzi from collapsing entirely... What a waste of time. I cannot be mad at myself I did cash out 6+ months ago. But should have just troll posted and made fun of bagHODLers wtf do I care about making "serious TA" and convincing people I am not crazy. People think bears were crazy anyway and who is the idiot now?
Going to have a nice laugh when it really collapses. This was barely the beggining.

omniexplorer.info/address/1KYiKJEfdJtap9QX2v9BXJMpz2SfU4pgZw
omniexplorer.info/address/168o1kqNquEJeR9vosUB5fw4eAwcVAgh8P

MrRenev

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.