Bull Market Is Inevitable - Steadily Approaching 10,000 USD
Updated
Hey guys I know I've been silent, especially during the most intense times of bitcoin in the past few weeks, I had personal matters to attend do, and plus I never had plans to FOMO into a parabolic trend anyway.
Looks can fool you, the parabolic trend looks like money, but its not. Sometimes the best trade to make is no trade, standing aside and observing is very wise, and I did just that.
And yes, we are steadily approaching 10,000 USD. However, we have a few loose ends before we make the next move. The history of this market will explain everything which is what I'll be covering mostly in this idea.
Summary:
1. Green Area
2. Red Area
3. Bearish Divergence
Whenever you look at a chart, it paints a picture, illustrating many things, this help us understand the psychology of the market, and as a result we can get a feel of what players are doing in the market based on its history.
1. The Green Area
So we got ourselves a steady and steep uptrend. The bulls are trying to killing shorts by continuously buying up.
This was the original strategy from the bulls when everyone didn't think we'll break through 6k, and how everyone was speculating about a new low.
Not to mention, we barely have any selling pressure, the bulls were leaving no room for sellers, whenever there was an attempt, the bulls would just instantly buy up again.
2. The Red Area
Alright, we've reached 8,500 USD and we now begin to see a change. The whales have decided its time for giant stop hunt, which is something we haven't seen in a while, they felt like it was perfect opportunity to punish the longs, which is a first. You got to remember that whales are famous for crushing people's spirits, especially when they get optimistic.
Now if you look at the price movement, its starting to look different. Its starting to look like a bumpy ride, and that's because we're getting closer to 10,000 USD, which is an extremely and psychologically crucial number.
Meanwhile, bulls are getting anxious. Its clear to me that we're seeing more selling pressure for a change. However, if you look at my yellow ovals highlighting those giant candles, it shows us that every time the market wants to drop, the whales are there to push it back up, supporting the uptrend. As a result, its only delaying the inevitable dump.
As you can see the whales are playing along, up until 9,000 USD. The whales then decide punish the longs once more with another stop hunt. They're trying to send a message to everyone that something good like this never lasts forever.
3. Bearish Divergence
I've spotted a bearish divergence which is strong evidence suggesting that we're heading down towards another drop.
The green lines on the chart is going on an uptrend, making higher lows, and yet green line on the RSI is going on a downtrend, making lower highs.
They both have opposite direction which leads us to believe that its a bearish divergence. All I can say is, something is going down, literally.
Again, it comes back to the whales, I believe when you have whales prolonging or manipulating these events, it usually causes severe repercussions later down the road.
Conclusion
At the end of the day, whales really do want us to go up! Its inevitable that we eventually go above 10,000 USD, leading us into the real bull market.
They will punish the bulls from time to time, but that doesn't stop their plans. When we get above 10,000 USD we will slowly see more FOMO kids, retail traders, and mommy and daddy investors entering the market again.
With this in mind, we'll ride the train as high as possible, until the whales decide to make a massive sell and disrupt everything like always.
Thank you for your time ladies and gentlemen, I wish you all a fantastic day!
Twitter: @cyber_stocks
Discord: CyberStocks#9378
Feel free to support me, any help is appreciated. All funds will directly support my personal finances, and most importantly, my mission of building an online brand :)
BTC Donations: 1AuZiofHSqM5gV1ttxUddNovDhEtHgMUgA
Looks can fool you, the parabolic trend looks like money, but its not. Sometimes the best trade to make is no trade, standing aside and observing is very wise, and I did just that.
And yes, we are steadily approaching 10,000 USD. However, we have a few loose ends before we make the next move. The history of this market will explain everything which is what I'll be covering mostly in this idea.
Summary:
1. Green Area
2. Red Area
3. Bearish Divergence
Whenever you look at a chart, it paints a picture, illustrating many things, this help us understand the psychology of the market, and as a result we can get a feel of what players are doing in the market based on its history.
1. The Green Area
So we got ourselves a steady and steep uptrend. The bulls are trying to killing shorts by continuously buying up.
This was the original strategy from the bulls when everyone didn't think we'll break through 6k, and how everyone was speculating about a new low.
Not to mention, we barely have any selling pressure, the bulls were leaving no room for sellers, whenever there was an attempt, the bulls would just instantly buy up again.
2. The Red Area
Alright, we've reached 8,500 USD and we now begin to see a change. The whales have decided its time for giant stop hunt, which is something we haven't seen in a while, they felt like it was perfect opportunity to punish the longs, which is a first. You got to remember that whales are famous for crushing people's spirits, especially when they get optimistic.
Now if you look at the price movement, its starting to look different. Its starting to look like a bumpy ride, and that's because we're getting closer to 10,000 USD, which is an extremely and psychologically crucial number.
Meanwhile, bulls are getting anxious. Its clear to me that we're seeing more selling pressure for a change. However, if you look at my yellow ovals highlighting those giant candles, it shows us that every time the market wants to drop, the whales are there to push it back up, supporting the uptrend. As a result, its only delaying the inevitable dump.
As you can see the whales are playing along, up until 9,000 USD. The whales then decide punish the longs once more with another stop hunt. They're trying to send a message to everyone that something good like this never lasts forever.
3. Bearish Divergence
I've spotted a bearish divergence which is strong evidence suggesting that we're heading down towards another drop.
The green lines on the chart is going on an uptrend, making higher lows, and yet green line on the RSI is going on a downtrend, making lower highs.
They both have opposite direction which leads us to believe that its a bearish divergence. All I can say is, something is going down, literally.
Again, it comes back to the whales, I believe when you have whales prolonging or manipulating these events, it usually causes severe repercussions later down the road.
Conclusion
At the end of the day, whales really do want us to go up! Its inevitable that we eventually go above 10,000 USD, leading us into the real bull market.
They will punish the bulls from time to time, but that doesn't stop their plans. When we get above 10,000 USD we will slowly see more FOMO kids, retail traders, and mommy and daddy investors entering the market again.
With this in mind, we'll ride the train as high as possible, until the whales decide to make a massive sell and disrupt everything like always.
Thank you for your time ladies and gentlemen, I wish you all a fantastic day!
Twitter: @cyber_stocks
Discord: CyberStocks#9378
Feel free to support me, any help is appreciated. All funds will directly support my personal finances, and most importantly, my mission of building an online brand :)
BTC Donations: 1AuZiofHSqM5gV1ttxUddNovDhEtHgMUgA
Note
Okay my apologies once again, I just found out about the Signature option in profile settings, I don't have to promote myself every post, and violate TradingView rules again. My mistake.
Related publications
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.