UnknownUnicorn15881386
As we've seen before with mara ... traps are common Upgrade was nice but not for long
Title says it all this could be the bottom here
Looking for something like this to play out
Let's be honest with bitcoin jumping all ways This might be good for holders to add slowly But for traders this is where accounts go bust by trying to be the one who can brag about buying the bottom Market has no direction and IT'S OK TO STAY ON THE SIDELINES TILL A CLEAR DIRECTION IS DEVELOPED
The flash crash has come as expected time to load is below 50 and be ready for low 40s and be ready to hold for a while Neither bulls or bears are in control of this market wait patiently add small
Extreme overbought leads to extreme oversold Bulls are right but time is key patience pays remain calm from 30 to 50 can take less then a week load below 27 to 21
740 bigger resistance Volume isn't as bullish As it appears to be from the stock moves
People will draw 2 random lines at every 5 minute that it bounces calling double bottom Then if it falls more they'll draw more lines to create a potential bullflag Then draw parallel lines at every low if it falls more calling that the bottom Don't take in more risk then you can and remember technicals were not meant to save your money wait for confirmation...
People might be looking for a few more down red days as seen previously but in my opinion that's a mistake Why? At that time the dip was just a selloff followed by more weakness into new lows that formed a bottom But in our case since it happened unnatural (by margin calls ) it's my opinion that it already hit the extreme low If it would not have been for...
Boring times into the dip will give everyone a chance to scream I told you so and short will load up which will cause a squeeze after going flat for a while This is not going to play out in 1 day itll take time Below 46 will be the load zone with no rush.
bitcoin to breakout over the next 3 weeks but..... shorts will be waiting I'm currently long looking to buy below 50 to 45 range on a flash crash from the breakout
Simple look to short witha stop above ath
This could play out over the next 8 to 16 months The results will be devastating Most retail will be wiped out of their holdings Short term we could be bottoming at 480-520