Held back long enough. Posting my long entries now.Hellow. Here is a BLX -2.70% chart because I want to avoid too much attention. Especially from baghodler bulls screening Bitcoin 0.07% top ideas looking for something to get offended by. I do not want to help them.
Would be awesome if tradingview let us post ideas as "followers only" or "friends only" if they wanted to make it a little more a social network (rather than a cesspool of scammers). I wonder if anyone ever actually asked.
Here is what the price will do once we lose THE trendline (which is around 5500$ now). Once we reached it I have to assume we are going to bounce first. Should happen in the next 2 months. Hopefully in the next 2 to 4 weeks. I wish we drop in the next 2 weeks, bounce on that trendline , might go short once we do, then drop again SOON after and not stall for months on it. Oh my... I just KNOW deep down we are going to stall forever on that thing. Please NO. Make it happen like gold -0.04% , a bull run of a few weeks to maybe 9000 idk&idc, then just fall QUICKLY mini bounce on it and then just go straight through.
2010-2017 crypto was awesome, they never was this stalling, price always moved. This is because of these idiotic noobs that joined in 2017/2018 to "invest" still have not learned anything and think they will revolutionize finance. During our school years, people get progressivly filtered, by the time you are 4 years into university all the idiots got filtered (if you think this means all people that do not go to university are idiots then you skipped math class and common sense class necessary =/= sufficient), ok maybe not in pay to win universities, but usually someone with 60 IQ 0.14% is not going to build rockets... rather ask you if you want a plastic or paper bag (sorry for being harsh, nature is harsh not me). BUT there is no filter here. Remember that dumb kid that took 6 months to understand a joke every one got instantly or struggle to comprehend substractions every one made fun of? Well he has been working since he is 16 years old and he saved up alot -0.26% of money and he wants his piece of the cake.
It took him ages to understand 6-4 = 2, and now it will take him ages to understand the prices stopped going up and he got scammed and they would go down.
Luckilly for us it will also take him ages to understand that after going down, prices will go up.
Am I doing this out of pure cruelty? Yes (tihi), but we actually also need to understand what is going in the minds of people. In Forex I try to understand what is going on in the minds of hedge funds, in the stock market I am slowly learning about I try to figure out what is going on in the minds of fund managers and their clients (they manage at least 85% of the stock market), well in crypto like it or not the big players, the VAST majority are not investment banks or mutual funds. They are unsophisticated investors with no economic background, no hightech background (these have gotten in long ago and got out), no mathematic background, etc.
So I have to figure out what goes in the mind of a moron -.-
For the short term, trendline:
Depending on how we draw it, if the price does not go down, it will be reached in 2-3 months.
If price drops to 5800 it will be reached in 2 weeks.
Closing my short there, but not going long not 100% sure there is a big bounce, I have plenty of other markets to trade where I have more certainty.
What matters it will eventually fail and finally we will get what we waited for, but not all of it, bagHODLers will continue to insult anyone that isn't bullish on Bitcoin 0.07% , but when the price falls below 3000 $ that's when they will sell, STFU, and disappear back into the sewers.
It should look something like this:
By the way I am not making these comment out of pure hate for these fools, yes I want to punch them in the face they really deserve it :D, BUT we need to understand what is going on in their mind, that's all what trading is about...
Should all look like this, I call these baghodler bars:
To further confirm this it shall be required to look at Daily, 4 hour and 1 hour chart (yes look at 1 hour chart for both swing trading and long term investing, it all happens fast).
What I will look for, if that makes sense, is something that looks like a truck getting to destination and I want to make sure I can picture a big heavy truck going at x speed slowing down realistically just as it would happen irl. I want to see a drop, follow by an explosion down then a bounce, then as we reach T1 divergence on H1 chart, or at least some green candles showing that buyers are here and strong enough compared to bull (I actually mistyped bull haha ok I meant bears, bulls today but bears in a few months) to slow the momentum.
For T2 T final form I would be surprised to see this. What I will expect is:
- We lose 4000 support (T1 = 3869 btw), waterfalls down
- Bounces (most likely on 3000 after a drop of 25%), maybe 20% up. Buyers are showing signs of life.
- EXPLODES DOWN. Divergence on daily or H4 initially, but just falls non stop massively for 1-3 days. Minimum target is 2600 and keep an eye open for buying here, but I have a very strong hunch this will be a fire canon -0.31% ball. Sellers won't ever stop, the laggard sellers will get lucky as I expect large support to be found at 2000$ and below (2000 will probably get violated but can't tell by how much it will be pure random), and the buying will stop the selling. Sellers would keep selling till 0 if no buyers step in.
Keep your eyes open for the media saying Bitcoin 0.07% is dead in their headlines to get views like the dirty cockroaches they are :D
Keep you eyes open for CNBC making a tutorial on how to sell your crypto, and how to get your money back (I'm dying just thinking about all this).
