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Bitconnect

Market cycles applied part 2. June & December bubbles.Let's assume 8950 was the top, or very close to it. Just to be prepared in the eventuality people that shorted at 8800 ish are not going to get liqudiated. Never know... Want to have a look at BitconnectCoin previous bubbles or in other words months of June & December. 1- June 2011 2- December 2013 3- June 2014 4- December 2017 5- December 2018 6- June 2019 What we can extract from these 6 examples (or 8 with dec 2013 *3) > When it dumps, if this was the top (I believe it is), it probably sees a large retrace (EW 1 rule). EW says 0.786 at least. Can be slighlty less. > Bitcoin dropped 11% at 6k and 22% at 8.4k, next dump 33%? That would bring us to 6000 exactly. > Where to re-enter exactly? This is for me to know and you to find out. Re-shorting around 0.786 is a pretty good RR, above 5... > People keep falling for the same stuff. Every body sees the same chart. I don't get it. Too obvious... Rince and repeat december 2020 maybe. > Bottom 900 to 1800 not sure where exactly yet... On the bubble chart denial it at the top, on the wall street cheat sheet denial is in the middle. Careful you talk about the same thing when you use that term. Honestly, they are in denial during the entire bear market. We should use different names. This:
BITSTAMP:BTCUSDShort
by MrRenev
28
I started shorting BitconnectCoinI cannot tell where the top will be but it is likely to be in this area. If this does not hold, then next will be 11500-13000. And past that, 20000-25000. If it makes it to 9700-9800 this bet could even be risk-free since this dumb ponzi drops 10% or more on every single resistance. The way buyers have behaved - disbelief - hope - start getting excited - complete euphoria - and now complacent "100% confirmed bull market" * is in line with the top of this micro bull market being in the 8500-10000. The odds we run out of suckers soon are very high. I expected every fool interested in this ponzi scheme that did not get trapped in the downtrend of 2018 to be patting themselves on the back and wait for "the bottom" to jump in asap and get trapped. Every one jumped in suddenly as the vertical price action has shown. And there is no one left to establish an actual trend. They do not exactly make a great job of hiding it. Actually these future grilled steaks even flex, and give us all the information we need. Kraken is looking for investors again. Bitconnect is re-opening, they call it Bitconnect 2.0. Very unlikely this is not the top. The BARE minimum will be a 30% drop, and the higher we go, the bigger the price drop.
BITSTAMP:BTCUSDShort
by MrRenev
19