BITCOIN RED WARNING: DON'T BAIT STORIES ABOUT BEING BULLISH
Updated
PEOPLE TELLING THAT I M WRONG.
95% people here doesnt understand situation on market, we are sinking big time guys.
All seems fine, but how far will they push?
Actually, everything is wrong with this market. since we should have downtrend from level 8000 level toward to 3000.
Instead, we got line of an uptrend 2500$ higher than in normal enviroment.
Mathematicaly they could go to 13,500 level.
But we already saw this push scenario more than 3 weeks ago, starting from push from 11,700 toward 1200 (500$ in 15 min time).
Back then, Bitcoin behavior was low volume (same as now, besides pushing toward resistance and breaking it), spoofing walls like now (that means that if normal enviroment you dont have decent volume.
Beacause, there is no BOTH SIDED VOLUME, real volume, smart money/fresh money, coming from all users, not juthere is not " groups of people holding between 2-4 billions, flashing market, buying large ammounts on price level 11.500$ price and of course, they do know as well there is no healthy reason for growth, but since they have large ammounts, they are trying to take each and every dollar, before it colapses.
But you don't know that.
I belive most of the people don't know.
People who are realistic are outspoken by A rated traders which analysis is credited because someone decided to pump.
If he didn't decided to pump, all analysis about bullishness would not came through and 90% of them would fail to "came to be".
Despite all facts following this Bitcoin (manipulating indicators (macd crossing, rsi, some volume, but only when spoofing walls or preventing downtrend. in situation where price was 10500 going toward 10100 and made some amorphic shape ending at 10932$), it's enough to reconder you decision about BEING BULLISH WITH NO REASON.
People who are listening advices given by my side certanly DIDN'T LOSE A SINGLE DOLLAR, REGARDING THIS SITUATION AND IN PREVIOUS ONE and in every one, because many people are burned 3 times so far. (roll back, you will see.)
TRUST ME ON THAT.
You certanly can ride the waves with short s/l, so there is no change to get burned.
Now, someone is lauder when talking about being bullish and cycle does really look like new one ( WHICH ISN'T CORRECT), DOWNTREND HAS NOT FINISHED MY FRIENDS.
We could to scalping prices as it "climbed" with near s/l, or rebuy on dips, because that was our one and only chance to rebuy on "decent value" and participate in rebounce.]
Since that did not happend (because price was continued to be pushed starting from 8800 toward these levels without one sudden correction from 11000-10.000, under very strange circumstancies (which newbies condier "price consolidation.
Taxi drivers say " Zoom out mate, we are bullish, thank you for your money (wtf that means) :D.
Hair stylist aiming for 40.000$ (as well as some professional amateurs) serious traders, A rated.
They are WRONG, not because i said it because i decided to be bearish with no reason.
We are in bear market my friends and as soon it starts to " apparently fall appart, but that will be yo-yo effect (pushed more/sinks more), which also could be compensated with injected cash flow+smart money+taxi drivers money+hair stylist money.
Can u immagine how market will look like?
Alts drop 5% during Btc uptrend.
Alts drop 10% during Btc downtrend.
They will continue milking your altcoins to the core in order to persuade you to sell it.
That some altcoins will most probably thunder BIG TIME ON 8,400 LEVEL. (Siacoin 400% return, Bitshares, Digibyte etc etc).
Don't buy stories about altcoin and goin to 0, that's not gonna happend.
You know why?
Altcoin won this year and this is a YEAR of ALTCOINS IN MAJOR WAY.
They are the one who will be thuddering through the market, not Bitcoin.
Bitcoin is only storage of value, but in todays term not practical because of many other things.
That doesn't decrese his value.
SHA 256 is still proven unhackable since 2009.
Wall's are spoofed.
Use S/L.
95% people here doesnt understand situation on market, we are sinking big time guys.
All seems fine, but how far will they push?
Actually, everything is wrong with this market. since we should have downtrend from level 8000 level toward to 3000.
Instead, we got line of an uptrend 2500$ higher than in normal enviroment.
Mathematicaly they could go to 13,500 level.
But we already saw this push scenario more than 3 weeks ago, starting from push from 11,700 toward 1200 (500$ in 15 min time).
Back then, Bitcoin behavior was low volume (same as now, besides pushing toward resistance and breaking it), spoofing walls like now (that means that if normal enviroment you dont have decent volume.
Beacause, there is no BOTH SIDED VOLUME, real volume, smart money/fresh money, coming from all users, not juthere is not " groups of people holding between 2-4 billions, flashing market, buying large ammounts on price level 11.500$ price and of course, they do know as well there is no healthy reason for growth, but since they have large ammounts, they are trying to take each and every dollar, before it colapses.
But you don't know that.
I belive most of the people don't know.
People who are realistic are outspoken by A rated traders which analysis is credited because someone decided to pump.
If he didn't decided to pump, all analysis about bullishness would not came through and 90% of them would fail to "came to be".
Despite all facts following this Bitcoin (manipulating indicators (macd crossing, rsi, some volume, but only when spoofing walls or preventing downtrend. in situation where price was 10500 going toward 10100 and made some amorphic shape ending at 10932$), it's enough to reconder you decision about BEING BULLISH WITH NO REASON.
People who are listening advices given by my side certanly DIDN'T LOSE A SINGLE DOLLAR, REGARDING THIS SITUATION AND IN PREVIOUS ONE and in every one, because many people are burned 3 times so far. (roll back, you will see.)
TRUST ME ON THAT.
You certanly can ride the waves with short s/l, so there is no change to get burned.
Now, someone is lauder when talking about being bullish and cycle does really look like new one ( WHICH ISN'T CORRECT), DOWNTREND HAS NOT FINISHED MY FRIENDS.
We could to scalping prices as it "climbed" with near s/l, or rebuy on dips, because that was our one and only chance to rebuy on "decent value" and participate in rebounce.]
Since that did not happend (because price was continued to be pushed starting from 8800 toward these levels without one sudden correction from 11000-10.000, under very strange circumstancies (which newbies condier "price consolidation.
Taxi drivers say " Zoom out mate, we are bullish, thank you for your money (wtf that means) :D.
Hair stylist aiming for 40.000$ (as well as some professional amateurs) serious traders, A rated.
They are WRONG, not because i said it because i decided to be bearish with no reason.
We are in bear market my friends and as soon it starts to " apparently fall appart, but that will be yo-yo effect (pushed more/sinks more), which also could be compensated with injected cash flow+smart money+taxi drivers money+hair stylist money.
Can u immagine how market will look like?
Alts drop 5% during Btc uptrend.
Alts drop 10% during Btc downtrend.
They will continue milking your altcoins to the core in order to persuade you to sell it.
That some altcoins will most probably thunder BIG TIME ON 8,400 LEVEL. (Siacoin 400% return, Bitshares, Digibyte etc etc).
Don't buy stories about altcoin and goin to 0, that's not gonna happend.
You know why?
Altcoin won this year and this is a YEAR of ALTCOINS IN MAJOR WAY.
They are the one who will be thuddering through the market, not Bitcoin.
Bitcoin is only storage of value, but in todays term not practical because of many other things.
That doesn't decrese his value.
SHA 256 is still proven unhackable since 2009.
Wall's are spoofed.
Use S/L.
Trade active
Anyway, when speaking on Bitcoin and altcoin.Check how much your altcoin deflated during this fluctuation.
Price of Bitcoin is 11,700 now.
If Ethereum would be (0.12 Btc, he would cost 1404$, but costs 932$)
Ethereum was 0.12Btc, now is 0.08 Btc, 50% deflated.
Stratis 0.00082 sats instead of 0.000142 (previous).
Not only altcoins deflated over dolar, they also deflated compating to Bitcoin, because money is invested in Bitcoin only in order to spoof walls, make sudden dips, activate s/l in order to buy cheap and many things.
REMEMBER:
Btc dominance during ATH was 67%.
Under normal circumstancies it was 53-56%.
Before rebounce it was 32-33%.
Now it's 39% and keep increasing (because money is injected in Bitcoin only).
That leads you to make decission about to sell your altcoins.
But since altcoin make another 61% of marketcap and Bitcoin (guys holding large amounts) are trying to regain their marketshare, because fall is inevitable and they wanna profit more, so they will keep investing in Bitcoin, (which will also decreace your altcoins and it will continue to decrease them).,
Check previous values of altcoins comparing to Bitcoin and value now comparing to Bitcoin, comparing to your portfolio in $$$.
How much is worth?
40-50% less?
Yes, true.
Bitcoin CAN NOT RECLAIM MARKET SHARE IN THIS CYCLE, it just seems like bullish.
People doing this do would badly wanted to buy your altcoins very cheap and persuade you in any manner in order to sell them.
When Bitcoin is calm (it will be sooner or later,) this manupulation has to an end.
When that happends, your altcoins will THUNDER BIG TIME.
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If price is not pushed again, we have support on 10100.Trade active
Bitcoin had setback for 1000$.Now, it does look bullish aiming for 11700 braking.
If you decide to ride the wave as an attempt of breaking 12k, use stop loss at 11.000 (currecnt price is 11085).
Risk reward is 1:1 (if selling at 11,7-8).
With close stop/loss you should be safe (as mentioned above).
I m still bearish, this is situation we can turn to our advantage.
Good luck
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80$ minus per btc, acceptable.0.7%
Note
If we would not have S/L, could sink 500$ in 10 min time, only because someone decided to sell it all.In situation like this we ALWAYS HAVE TO USE IT, otherwise burned heavily.
Trade is still active.
We tried to "rejoin" possible rebounce, but seems like one more bait for naive.
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Anyway, as mentioned above, we should look for potential rebound on 10100 level.Bitcoin could possibly find support on 10100 level in order to have rebounce to 11,200 level.
Price is being pushed, true.
As loong as someone doesn't decide not to maintain this price.
This is why we do use very close S/L, because we do know our entry and (potential) target.
With S/L set on 9950 we should be just fine.
We do need rebound confirmation.
If there is no, we dont either lose or profit.
Note
When talking about altcoins : Btc dominance is 39.1% ( $182,001,745,130 )
Altcoins -II- 60.9% ( 283 billions)
During past two weeks we had 3 setbacks in Bitcoin movement, but none of them wasn't bigger than 1000$, so nothing special at all.
Ok, i can imagine that someone bought it at 6000 level and sold at 11.000, making serious profit there, i agree.
What about altcoins?
Are they still in playt?
Yes, they probably are.
Altcoins are the one worth 100 billions more than Bitcoin marketcap.
We do have many good altcoins which deflated comparing to Bitcoin aproximately 50% of their initial value to Bitcoin.
Those same altcoins : Bitshares, Digibite, etc are the one with huge potential.
Bts potential is like 600% in ATH value.
There are many good very volatile altcoin opressed by Btc fluctuation.
Since money has been " injected" in btc only, they deflated because of continual fluctuations.
Be aware that no smart money has been invested in Bitcoin, neither institutional money.
From this instance, Bitcoin should make possible uptrend to 11,2k (we will use close s/l) if decide to ride the wave.
But, after that, Bitcoin should go toward 8.800 level, ending probably 8200-8400.
Guys doing this pumps do know that altcoins deflated BIG TIME.
Since (i assume) it has became expencive to either maintain Bitcoin in order to break 11,700-12.000 level, the most probably " let it go".
While entire attention is focused on Bitcoin, alts are still dropping.
They will drop more as Bitcoin aproaches level 8200.
If Bitcoin remains calm for a 4-5-6 days it will allow high volatile altcoins to gain as more % as they can.
And money invested in altcoins is also smart money invested in Bitcoin, since there are many good altcoin which can be bought only through Bitcoin.
That means fresh money invested in Bitcoin in order to buy altcoin.
I still think that bigger picture still loses on us, beacuse no one is paying attention on altcoins, especially beginners/newbies.
They will certanly buy some when they see change in %%.
But most of them doesn't know neither entry point or nor cashout point.
Big guys can move from Bitcoin to Altcoins, make very serious money there ( that would be ultimate win for them), so when Bitcoin starts going toward 3k price (starting from 8,2-8.4) after apparently calm period, all altcoin will start deflating once again.
There is potential in altcoins (Ethereum/Bitcoin 87%) Stratis 600% potential (400k sats exit point, now costs bellow 80k sats).
Bitshares 2,2k sats, cashout at 13k sats. and many many others.
Altcoins are the one who should take place in this game, Bitcoin is loosing marketshare big time.
This is not neither rebounce, nor nothing.
it's a bait for naive.
Reconsider cashing our your position after rebounce to 11,2k.
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For all traders following this post i stated above : Bitcoin could possibly find support on 10100 level in order to have rebounce to 11,200 level.
Price is being pushed, true.
As loong as someone doesn't decide not to maintain this price.
This is why we do use very close S/L, because we do know our entry and (potential) target.
Bitcoin just rebounce from 10100.
Target 11.200$
Stop/loss 9950
Risk reward 8:1
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we have very big risk reward ratio8:1
regarding price and s/l placed
(properly placed s/l)
so wont trigger
if trendline is broken
he s the first to be triggered
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This S/L trade did not came to be.Rebut was 10050-10100.
S/L placed on 9950, so ok.
As soon this lower trendline has been broken, it started sinking bellowe 10k.
Also, its a psychological 5--->4 diggits reversal.
It does affect people, makes them seel.
Anyway. Bitcoin could possibly find support on this level, heading to 10300 and falling again, but i would not conider that trading opportunity, since walls are being placed and removed. (big bitcoin walls being executed instantly with quite big amounts) in order to maintain price or let it fall (by placing huge buy orders and buying it in " partnership" continuosly decresing price of ASK/BID which causes sellout (in closed circle) and price dumping and buying it again.
Mass orders has been filled instantly.
We do wait price not above 8500, but nothing but that regarding the circumstancies.
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BEAR (:) in mind that all those pumps on the left side of this multy cycle has been made only by executing huge buy orders on certain price level(breach of 9500 and so on).That doesn't necessary means that same " forms" and "shapes' will appear on the right side as well (having in mind that the ones on the left side exist only because someone started price pumping and they are nothing but artificial.
Bitcoin started bullrun from 8800.
It's very unstable and unrealiable.
We should probably wait for bigger dump in order to make any decision about potential investment.
It's way to risky to trade now.
Trade active
Overall movement is shown on the chart given (because he was the latest one when speaking about anticipating the trajectory of Bitcoin). In a healthy consolidaton enviroment, we should have retracement from 10800 to 8800) in order to finish that "cycle" makes technical rebounce toward 11,6-7.
But instead, price is being "dragged" to that same value, but with two sudden (expected), but unhealthy "consolidations" which were actually sell off which resulted price dumping.
So, profit has been made.
Now, before this strong uptrend, there was a tripple bottom (at 9.4 level), with continual testing of support, which afther third rebounce and technical uptrend movement with huge momentum which resulted piercing of 10.1 support.
Then, consolidaton over 10.1, further uptrend, one more channel moved (above 10,5), so Bitcoin actually made 2 smaller continual uptrend, by healthy price consolidation (including latest retracement).
10.500 level has been heavily opressed and still holding, because there is a lot of smart money here.
Strong retesting of 10.500 level should be considered as an additional bullish indicator, having in mind that rebounce from that support level can result sharp uptrend to 11,1-11,2.
Still, 11,500 would be totaly safe sell.
Then, we could expect another price reconsolidation at least 1500$ downtrend value, which should be considered as one more healthy sign of upward momentum which could possibly lead us to 12,8 in last instance.
Anyway, that scenario could happend after second consolidation.
Situation is being monitored, positive sign is that 10.5 holded, so 11,2 is 100% sell.
11,700-12.000 price is expected to be seen.
If playin safe, we could use s/l after 11,2
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Comment reffering to this chart.
We had tripple bottom, and techincal rebounce.
So far we are looking good and pretty safe to 11k in first instance.
Possible retracement could be seen at 11.7.12.000 level.
Value of retracent should be around 1500$ from that point (to either 10200 or 10500 (if falling from 12000) ).
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