At the risk of repeating myself...Is it not amazing how perfectly Bitcoin has followed the bubble drawing? (Wall street cheat sheet)
I could tell you exactly what will happen, and what people are going to say, to the very word.
On this chart I posted a few examples.
The guy from the netherlands that sold everything he had and went to live in the woods is my favorite.
This is exactly how it is going to look like:
twitter.com
It is just so obvious... Anyone that looks at this chart will see it.
Boy oh boy was the complacency phase slow and boring, but well, we knew that from the past examples.
From March to August... 6 months... crazy. And FX as well as commodities that haven't done anything the past 2 months.
Any trader that got into trading joined in the most boring environment possible.
Personally I was trading Buttcoin back in March April (started in 2017), but it was so boring I switched to FX, and then FX started being boring too HAHA. Is my whole career going to be defined by that traumatizing moment where everything was sideways/bottoming/in complacency/etc?
Bitcoin could go up now, I was expecting it, but it could disapoint me once again on the bull side, just as it has in the past, and not even go up to 8500.
It will take 1 year to go down, with alot of noise.
I do not know if I will profit from it.
I guess I am joining the club of Warren Buffet and Bill Gates and will say "if I could short it simply, for example buy an option on it, I would".
I know 100% where it is going, but there are no easy way to short it, so sadly, not much do do here.
UNLESS it goes to 8500 or 10.000.
Unless the old people I mentionned thought, I won't avoid it totally.
Once it starts clearly trending down, it should be possible to join the fun.
Right now if you short it at 7000$, you are gambling as it could go up anywhere from 8500 to 12000.
Just going to have to wait for confirmation...
Special ending words: TECHNICALLY, complacency ended when the monthly inside candle broke bearish.
People always get scammed when that happens, and "investors" are really slow and never admit they are wrong, so it was obvious it would take time, I bet on it going up for longer, but I gave up on that idea... Maybe it will who knows, don't want to risk it again. I do not know where to short Bitcoin if it does not go back up...
The only good entry short will be when we get something like this:
And making the rectangles transparent, this is what happened.
Pretty nice right?
I should have trusted my own math and went all in short on 8500.
Wait I think I did but closed quickly. Oh whatever. Sure you can short at any price let's say 7000$ till it gets to 1000$ or less and make big profit but your capital is frozen for a whole year... Don't we want to at least try and outperform 80% in a year? Rollover would be pretty big too... Idk how big but pretty big right?
