BitcoinUpdated Resurrection Of Bitcoin!
So I have been trying hold myself for a while but enough is enough! It is too early to predict but I have guessed $3200 bottom for bitcoin back in December while everybody singing bitcoin going down $1200-1800 songs. Like orchestrated brain washed zombies. From the bottom price action went up $4000 then non-ending perma-bears seized the opportunity and we are back 3580 level(bitmex). After all this years trading crytpto's , I have seen 3 major bear market like this one. At the very bottom and at the top people gets confused and ignores the clear trend reversal signs. This is always the case. Now there is one major difference in bear market. And that is exchanges like Bitmex offering 100x leverage positions and co-founders actually interfering the market by calling odd bottom figures repeatedly openly on media!?Clear manipulation going on? Now at this point bulls are trying to liquidate bears and bears trying to liquidate bulls. Money suppose to go into cryptos being evaporated! Lose and lose situation for regular investors?Who wins at the end? Of course exchanges printing money as we speak. Perhaps it is time for Our community to address this question. We are in this for different reasons. Some for ideology some for excitement and some for perhaps gambling like instincts. We all want one thing. We want to grow and make money! How can we do that? It is not actually so hard to answer that question. Perhaps using smaller exchanges and not using leverage will go long ways. You can still make so much money without the risk of losing all of your money.Why do you think they are coming up with unusual moves lately called Bart .If you want to make money, you need to be patient!You cant get rich overnight.
Absolutely stop reading manipulative news. Most TA's out there exactly tells you to trend is and most of them scaring investors away so they can buy cheaper coins themselves or vice versa. In crypto world there is actually no real resistance or support zones. All psychological levels. Usually round figures are the most important to break like 3000-4000-5000-6000 etc. Don't just believe if somebody saying 3655 is upper resistance or we have strong support at 3588. No we don't. All imaginary figures. Sounds quite funny and laughable matter. When hype or panic sets in any direction,there is no number that they tell you will stop that action.
Now some technical points. Daily Rsi sitting at strong 50 level. Bears been trying to lower the price non stop. Constant selling for few days but yet we are managing to go up. Clear sign of bear exhaustion out there but some people wont stop trying. Not everybody is smart and we are not equals. We absolutely need bears to advance. Otherwise who is going to sell you cheap coins right :) I clearly stated 3 target levels and I am very confident(Again I could be wrong but if there is no bad news or horrifying manipulation, I don't see any other way). First target will be hardest to get to but once we break upper trend line there is no coming back. As of right now people may think bears taking over the market price cant move up. Yes it appears that way but is it? I am only seeing bears are desperately trying,hoping to get lucky. From this point if we follow green line ,I expect bear trap set between 3500-3550 level most likely 3550 to kick high leveraged short positions out for good or if we follow the blue line which is more preferable , shorts will have time change their positions into longs.
If I see enough likes and comments , I will update this Idea otherwise wishing you good luck traders.
Never give up the hope. We are warriors.
Absolutely stop reading manipulative news. Most TA's out there exactly tells you to trend is and most of them scaring investors away so they can buy cheaper coins themselves or vice versa. In crypto world there is actually no real resistance or support zones. All psychological levels. Usually round figures are the most important to break like 3000-4000-5000-6000 etc. Don't just believe if somebody saying 3655 is upper resistance or we have strong support at 3588. No we don't. All imaginary figures. Sounds quite funny and laughable matter. When hype or panic sets in any direction,there is no number that they tell you will stop that action.
Now some technical points. Daily Rsi sitting at strong 50 level. Bears been trying to lower the price non stop. Constant selling for few days but yet we are managing to go up. Clear sign of bear exhaustion out there but some people wont stop trying. Not everybody is smart and we are not equals. We absolutely need bears to advance. Otherwise who is going to sell you cheap coins right :) I clearly stated 3 target levels and I am very confident(Again I could be wrong but if there is no bad news or horrifying manipulation, I don't see any other way). First target will be hardest to get to but once we break upper trend line there is no coming back. As of right now people may think bears taking over the market price cant move up. Yes it appears that way but is it? I am only seeing bears are desperately trying,hoping to get lucky. From this point if we follow green line ,I expect bear trap set between 3500-3550 level most likely 3550 to kick high leveraged short positions out for good or if we follow the blue line which is more preferable , shorts will have time change their positions into longs.
If I see enough likes and comments , I will update this Idea otherwise wishing you good luck traders.
Never give up the hope. We are warriors.
Note
Timeline wise this could take shorter to achieve. Very hard to draw accurately on a limited small space but $ figures for 3 targets remains.Note
Alright ladies and gents. I was mentioning 3550 level trap on my previous comment. It exactly played out the way I though. We have bounced form exactly 3550 twice. Bear traps executed too well :) This could force some short positions to switch into long positions before they kaput like they way happened in December. Even most skeptics started to see clear picture. Xrp also start to rally which is also very good sign. Xrp could show the market the way. I seen this happen more than few times. Grab your popcorn and enjoy the ride :)Note
People got too greedy. As soon as we advance people trying to take a profit on every peak then this creates ripple effect. This is not smart way to do it. First of all you are not really making much profit,second you are stopping whole market to advancing without knowing or worse on purpose. People need to either stop and wait on the sidelines, or stop selling every possible opportunity that they got. This is not trading this trying to rob other people.When selling slows down people will attempt another push towards 3700(blue line), If that doesn't work then we may be forced to retreat 3500 rangeish(green line) and try break 3700. I don't expect going under 3500 upon daily candle close.Moment of decision is either today or tomorrow but we should know in couple days.Note
Bitmex exchange putting extraordinary selling pressure on bitcoin. Almost alarming rate.They are toying the bulls openly. Btc is at 3580 at the moment. Giving huge warning signals.Again this could be artificial whale fake to kick people out of position. Be aware!. But if not, looks like we may have to retreat. Hopefully not under 3500. Next 6 hours very important to watch we may even go down slightly further than expected if bulls does not push anytime soon. I am going to exit half of position soon if things doesn't improve in few hours.If we break 3600 I will stay.Note
Well. We did not pullback enough to 3500 level for additional strength yet this little pullback plus bear trap looks like this is not going to help much at the moment since my entry was at just under 3400, Since I am in good profit zone, I decided exit all my btc position at 3575 so I can wait on the sidelines untill this situation improves.Because seems like bulls need to push extra hard here otherwise bears will gain extra strength. Again one can never be sure or claim with confidence but my personal opinion is towards clear manipulation going by bitmex(one exchange may be fooling the world) and I am not liking this situation. Be aware this could go either way!I will stop writing since I got no comments or feedbacks. Good luck to you traders! Time will show us the way.
Trade closed manually
Until the situation improvesNote
I crated this idea 3 days before all the other Ta's out there.now they are saying exactly what I am saying.This is zoomed version of my previously drawn chart about in hourly version. As we are following green line.If red line doesnt hold we are in serious danger. I will aim to re-buy around 3500 ish.Trade active
can't resist getting back in at 3560. Not usually my style but I joined the fight against stinky bears. They stink bad :) Bitmex still working on their magic non stop. Keep pounding sell order of 5 millions at a time. Think about it they are probably at 50x-100x leverage .We may be looking at actual 50k usd or 100kusd figure. Could actually be very small amounts holding the market. Time to torch them down? Bears are vital to this system but they need to learn when to step down and change the direction for a while. Now it is time for them to deal with buying pressure and they don't now how much buyers can add up together yet :)Note
We are following the green line perfectly so far. However I will strongly suggest CAUTION here. Bitmex bears has been quite for some time. This worries me a bit. Since they are the master of manipulation, not resisting upper trend deeply concerning. And yet we have not broken past simple 3600 level.We are hovering just under and attempt to break through failed few times already. If bears hit hard at this level they can INVALIDATE the upper trend and force bitcoin to consolidate a bit more towards low 3500 levels(anything under 3450 no trade zone). I set my stop loss order(I don't like placing stop-loss order but this particular situation is tricky) because I feel like some sort bear attack may happen anytime unless we break 3600 decisively. At this point I am in good profit level and not planing to lose my gains because of a dirty game. Better to be safe than sorry.I learn not to trust BITMEX.Note
Green line competed successfully :) Reached the First target. The problem with this green line continuation might turn ugly at this point. I closed 50% of my position at @3900. I will close the rest hopefully before the correction.Note
Some possible continuation patterns. 3 different options.
Trade closed manually
Note
Turned out to be good call at the end of the day. I was hoping for blue line but not sure it would hold anymore.Red line continuation is bad news :(Note
Year 2022 . we are struggling the similar situations of 2019. I repost this so people can see beyond their confused minds.Note
Hopefully this runs like this will repeat again!Note
All the bottoming signs are out there! Do not miss your change this time!
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