Bitcoin - What a Bull Scenario Will Actually Look Like
Updated
The reality is after a long and prolonged stretch of bearishness, the makers of the market for a high value asset with much future upside potential are not going to let you comfortably buy and hodl in anticipation of the moon mission.
They want your coins because whoever controls supply controls the future. But they're also bound by a razor wherein destroying their market destroys themselves.
July and August's extended "bearishness" followed a similar, albeit less exaggerated version of the pattern Bitcoin has followed since 20k.
In the end, it formed a descending triangle and broke through major supports before bouncing dramatically and continuing the moon mission.
The problem with this fractal in terms of applying it to today's situation is that it happened during the earlier periods of a large bull run. RSIs, EMA, and position of price action relative to the Bollinger bands are completely different.
This is also the wrong side of the market cycle, unless you are making the assumption that this is merely one giant dip inside of an even bigger, or perhaps final, move up.
That being said, Bitcoin 10x'd in price since July and became a considerably more mature market controlled by considerably more clever makers.
The simple volume of buy, and especially sell pressure, caused from the spike in adoption, can also account for these differences without it breaking the "bull" trend of larger time-frame fractals.
Struggle bus bouncing to $7,500 is _not_ bullish. It's bearish.
Once you capitulate, the bull run is back.
The algos and Chads will take all the supply below 6k there is.
When the bottom is in, it will be gone in literally minutes.
And this time, what will happen to shitcoins?
==
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
dafoh.org/petition-to-the-united-nations
They want your coins because whoever controls supply controls the future. But they're also bound by a razor wherein destroying their market destroys themselves.
July and August's extended "bearishness" followed a similar, albeit less exaggerated version of the pattern Bitcoin has followed since 20k.
In the end, it formed a descending triangle and broke through major supports before bouncing dramatically and continuing the moon mission.
The problem with this fractal in terms of applying it to today's situation is that it happened during the earlier periods of a large bull run. RSIs, EMA, and position of price action relative to the Bollinger bands are completely different.
This is also the wrong side of the market cycle, unless you are making the assumption that this is merely one giant dip inside of an even bigger, or perhaps final, move up.
That being said, Bitcoin 10x'd in price since July and became a considerably more mature market controlled by considerably more clever makers.
The simple volume of buy, and especially sell pressure, caused from the spike in adoption, can also account for these differences without it breaking the "bull" trend of larger time-frame fractals.
Struggle bus bouncing to $7,500 is _not_ bullish. It's bearish.
Once you capitulate, the bull run is back.
The algos and Chads will take all the supply below 6k there is.
When the bottom is in, it will be gone in literally minutes.
And this time, what will happen to shitcoins?
==
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
dafoh.org/petition-to-the-united-nations
Note
Short it on Bitmex to 5k and then leverage your house 200x long for 9 lambos at once. bitmex.com/register/6COvar (10% off fees)
Note
600MM contracts of open interest on Bitmex is pretty much where we were at at 11k and 9k dumpsters.
Yet, price is $7500, hourly volume is very low, and everyone is geared up and ready to go for the next moon.
Happy June, friends.
Note
In my opinion the last ~9 hours have confirmed this isn't a Bart stoprun/dump.
7500 is not a buy the dip zone, unfortunately.
You've been told to buy for moon, but even May support is now a long ways away.
Short it on Mex in my signature below.
Note
Don't kid yourself friends. coindesk.com/cftc-denies-bitfinex-foia-request-citing-possible-investigation/amp/
Note
My friends, this market is not okay right now. Imagine this wasn't Bitcoin for lambo and moon.
Does that daily look like a long to you?
Mex up to 700 million contracts open interest. More than we had at 12k and 10k dumps.
Short it with the ref link in my signature.
Note
Dearest bulltards. How faux pas is this post if moon now?
Note
Well, boys. Do you really think it's going to double bottom?
Note
Patience is a virtue for so many reasons.Note
Always bet on Rivers and Mountains.Note
Push play on the chart. The bull scenario terminated early, meaning, there isn't one. People ignorantly, like pigs, do not remember how fucking high of a price $6,000 is for a shitcoin. $1,500 is a historically very high price for this failing asset class, as well.
Digital Currency is a death trap and yet you're being brought to the altar for sacrifice like pigs to the abattoir.
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