Buttcorn needs some helpBitcoin needs a catalyst in order to send us up. People keep selling and we will be stuck in this bear market until we get something worthy of a reversal.
-BTC seems to be forming a bear flag on plenty of time frames.
-MACD is crossing down on the 30min chart.
-We could see a bit of movement down to the next support. From there we will have re evaluate the situation there.
-MACD crossing down on the 1D time framer
Xbtusdt
A Rocket Ship Full Of Salt and Tears... Saved By a MagnetAn Ode To The Magnet:
When all was at a loss, and salt was at a high,
The magnet showed up, to pull us to the sky.
The hero we needed, but certainly don't deserve.
Our prayers were answered, our calls were heard.
When darkness loomed, all feared the worst.
Short sellers calling $1000, Bloomberg the hearse.
"Bitcoin will never die", the magnet said to us,
Load the ship with your salt, and I'll STILL carry it up.
Most laughed and snickered, as I posted my chart,
$5,000 they said - HA!, Market Makers are too smart!
They snorted and shorted, but soon felt the burn,
As Arthur and my magnet, liquidated all that they've earned.
Bring me your tired, your weary and your rekt.
I will lift you all, while the shield will protect.
All looked up, and asked the magnet 'when moon?'
The magnet looked down, and simply said 'soon.'
+1 Like To Continue To Power This Magnet.
Bitcoin Up 30% since original post.
Am i very bearish ?
Hi traders,
Last 1k dump really made me sick and bearish.
I counted correction waves of 2014 crash and i see a lot of similarities within current btc crash waves.
My suggestion that we are currently in C wave of ABC correction.
I thing my wave count for 2014 crash is OK. The ratios of waves to each other are almost ideal. And similar wave count and pattern is seen in 2018 crash.
A and B waves of ABC correction have already occurred and now we are in C wave.
Crash in may would be start of impulse subwave 1 of C wave (blue waves), and crash at the beginning of august would be starting point of impulse subwave 3 of C wave.
Current crash probably started another impulsive subwave 3 (yellow waves) within impulse subwave 3 of C wave.
To cut short, if this purely bearish counting is working, dip is at 2.5k region, and this would be true bottom of triangle. If the bull comes, if it really comes, it might come up if it breaks this huge triangle up.
definitely NOT a good timing to long
For big whale to earn money, the easiest way is to destroy the market and make the long position all rekt .
I don’t think it’s a good idea to long for now. Because what normal people think about that extremely low rsi? They will probably think its the bottom and make a long position.
But think like a big whale, if most people believe it’s a bottom , and most of them long at these area. Then Isn’t this another huge chance for big whale to make money?
YES , probably whales will drop the market again, and they will make those people who longed getting rekt again, to accumulate at a far lower range.
So guys, it’s a very risky time to hold position. Remember if you want to have position you need to have strictly having enough reasons and confirmations.
Possible Bearish Ascending Broadening Wedge Forming Before MoonAs highlighted, we could be forming a bearish ascending broadening wedge here. If either of these scenarios play out, then then launch us to 71XXish as per the target of the diamond bottom reversal. They might not play out, however keeping my eye on these as a very real possibility.