🎓 Corrections take place in price and corrections take place in time.
🗞 The bad news is that by not being able to have a strong dead cat bounce into 5k and then taking extra time to get back down to 3k, we’re probably gonna go lower than most people think, because time has to run its course.
And if the price can not delay the time to get us to sub 3k by having a reasonable dead cat bounce & staying a little bit higher, it’s a big trouble for the bulls.
🎯 With that being said, we are looking at sub $2000 prices as an ultimate bottom of the bear market (if we can’t have a very good bounce)
🗞 The bad news is that by not being able to have a strong dead cat bounce into 5k and then taking extra time to get back down to 3k, we’re probably gonna go lower than most people think, because time has to run its course.
And if the price can not delay the time to get us to sub 3k by having a reasonable dead cat bounce & staying a little bit higher, it’s a big trouble for the bulls.
🎯 With that being said, we are looking at sub $2000 prices as an ultimate bottom of the bear market (if we can’t have a very good bounce)
Manipulation in a range or people with a lot of money that are bored
Look at these 1h monster candles. This is no longer a coincidence, but a coordinated work.
[ When price is ranging, there is more opportunity for manipulation, because it's like the market is scared to go above or below a certain price ]
📌 As long as whoever is doing it, Bitcoin is gonna struggle to get out of the bear market.
Look at these 1h monster candles. This is no longer a coincidence, but a coordinated work.
[ When price is ranging, there is more opportunity for manipulation, because it's like the market is scared to go above or below a certain price ]
📌 As long as whoever is doing it, Bitcoin is gonna struggle to get out of the bear market.
CryptoBullet
🤔 What if the history does indeed rhyme?
A clean weakly view of the scenario
If history indeed rhyme - which is a big if - we can expect a 1700-2200 bottom in the spring (most likely April, because the cycles are lengthening)
If history indeed rhyme - which is a big if - we can expect a 1700-2200 bottom in the spring (most likely April, because the cycles are lengthening)
CryptoBullet via @vote
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💡 Trading idea: Short TRX (TRXH19) on BitMEX
Leverage: 5x
Entry point: 0.00000684
Be ready to average at a higher price if it needs
🎯Targets: 0.00000605
0.00000545
0.00000490
Leverage: 5x
Entry point: 0.00000684
Be ready to average at a higher price if it needs
🎯Targets: 0.00000605
0.00000545
0.00000490
#BTC is stuck in the support zone we pointed out on Jan. 11.
Next support is previous lows followed by sub $3000.
Look how we got rejected by 50-Day MA several times over the last couple of weeks.
📌 We are still being held up by 200-Week MA (currently sitting at 3300), but the fact that 200-Week MA has to hold up the price again in a bear market is very bad. If this MA was holding up an up trend, it would be great, it would be a buying opportunity.
⚠️We stress that the month is almost over, it's about to close and what we are gonna have is the lowest monthly close of this bear market. This is not good at all and it's a very bearish sign.
📌 We say that the probability of 3140 being the final low is about 5%! But it can take time to go lower then 2018 low of $3140.
💡What we can count on is a Double Bottom scenario. How high can we bounce off of the second bottom? The resistance at 4250-4350 will be very difficult to break. There are layers of all kind of diagonal, horizontal & MA resistance.
Next support is previous lows followed by sub $3000.
Look how we got rejected by 50-Day MA several times over the last couple of weeks.
📌 We are still being held up by 200-Week MA (currently sitting at 3300), but the fact that 200-Week MA has to hold up the price again in a bear market is very bad. If this MA was holding up an up trend, it would be great, it would be a buying opportunity.
⚠️We stress that the month is almost over, it's about to close and what we are gonna have is the lowest monthly close of this bear market. This is not good at all and it's a very bearish sign.
📌 We say that the probability of 3140 being the final low is about 5%! But it can take time to go lower then 2018 low of $3140.
💡What we can count on is a Double Bottom scenario. How high can we bounce off of the second bottom? The resistance at 4250-4350 will be very difficult to break. There are layers of all kind of diagonal, horizontal & MA resistance.
🎓 When comparing the current Bear Market with the previous one (2014-2015), we see that many similarities are present. Bitcoin has been mimicking the past bear market like unreasonably identical.
The main question is: How will the current bear market be different than the previous one?
Collective behavior of people can be very similar, which may mean that the same general pattern will show up again.
Possible difference could be:
1) we go even lower %-wise than the last time;
2) The cycle could be dragged out much longer.
💡We are convinced that the relation to the 200-Week MA is gonna be one of the big separators of the current technical picture of the bear market vs the last one. That means we will go below it.
Here is why the 200-Week MA will break👇
The main question is: How will the current bear market be different than the previous one?
Collective behavior of people can be very similar, which may mean that the same general pattern will show up again.
Possible difference could be:
1) we go even lower %-wise than the last time;
2) The cycle could be dragged out much longer.
💡We are convinced that the relation to the 200-Week MA is gonna be one of the big separators of the current technical picture of the bear market vs the last one. That means we will go below it.
Here is why the 200-Week MA will break👇
CryptoBullet
💡 Trading idea: Short TRX (TRXH19) on BitMEX Leverage: 5x Entry point: 0.00000684 Be ready to average at a higher price if it needs 🎯Targets: 0.00000605 0.00000545 0.00000490
We gave call to short TRX with almost perfect entry of 684 (never went above 689)
Short call has been working out well, price reached 621, which meant +46% profit with 5x leverage. But we didn't closed and waited for more downside.
However yesterday we said to our VIP members to close TRX short (in 32% profit, which is +8% to the whole deposit, because we shorted TRX using 25% of the trading deposit)
And then BOOM! Trx goes crazy all of a sudden getting traders "rekt".
If you want to join our VIP channel - contact @Likeniss
Short call has been working out well, price reached 621, which meant +46% profit with 5x leverage. But we didn't closed and waited for more downside.
However yesterday we said to our VIP members to close TRX short (in 32% profit, which is +8% to the whole deposit, because we shorted TRX using 25% of the trading deposit)
And then BOOM! Trx goes crazy all of a sudden getting traders "rekt".
If you want to join our VIP channel - contact @Likeniss
XBTUSD Scalp Trade
Invest in this trade according to your money and risk management
Leverage: 5x
📈 Long: 3400-3410
Target: 3445
Stop loss: 3319
Invest in this trade according to your money and risk management
Leverage: 5x
📈 Long: 3400-3410
Target: 3445
Stop loss: 3319
#BTC
We have identical formations on both RSI and candlesticks
Expecting a breakout to the 50-Day MA.
Upside target: 3740 region
Should we be wrong, and we drop - 3200
We have identical formations on both RSI and candlesticks
Expecting a breakout to the 50-Day MA.
Upside target: 3740 region
Should we be wrong, and we drop - 3200
Let's take a bit closer look at #BTC
BTC is consolidating in a channel - possible bear flag for a continuation down since volume doesn't look great.
Nevertheless we can count on a bounce to the middle of the channel and then potentially to the top of it.
BTC is consolidating in a channel - possible bear flag for a continuation down since volume doesn't look great.
Nevertheless we can count on a bounce to the middle of the channel and then potentially to the top of it.
CryptoBullet
XBTUSD Scalp Trade Invest in this trade according to your money and risk management Leverage: 5x 📈 Long: 3400-3410 Target: 3445 Stop loss: 3319
Closing position in a little profit (+2%). Don't like the price action. Capital preservation is the key.
⏰ Cboe Futures expiration date marked Feb. 13.
#Bitcoin's reaction to the expiration of Cboe futures during the downward trend saw 1.2%-16% decline in prices. Will BTC drop on Feb. 13 ? Nobody knows the future, but volatility will be present.
#Bitcoin's reaction to the expiration of Cboe futures during the downward trend saw 1.2%-16% decline in prices. Will BTC drop on Feb. 13 ? Nobody knows the future, but volatility will be present.
CryptoBullet
#BTC We have identical formations on both RSI and candlesticks Expecting a breakout to the 50-Day MA. Upside target: 3740 region Should we be wrong, and we drop - 3200
🚀🎯 BTC broke out to the 50-Day MA just like we predicted.
If you want to join our VIP channel and long such BTC moves - contact @Likeniss
If you want to join our VIP channel and long such BTC moves - contact @Likeniss
#BTC monthly perspective
Looking at the monthly chart, there's nothing positive yet.
We can say something about the last month that has completed. January didn't give us a new intra-month low, but it gave us a new closing low and this means that the monthly chart remains bearish.
⚠️ Also we are coming up to 50-Month MA and history tells us we never closed below it. So, by closing below the 50-Month MA (which is very likely to happen), it will show you with TA that the current bear market is worse than the previous one.
💡Probably the price is going to kinda get stuck in this range (between the 7-Month MA & 50-Month MA) into the death cross between 7- & 50-Month MAs and take a nosedive into the summer.
Looking at the monthly chart, there's nothing positive yet.
We can say something about the last month that has completed. January didn't give us a new intra-month low, but it gave us a new closing low and this means that the monthly chart remains bearish.
⚠️ Also we are coming up to 50-Month MA and history tells us we never closed below it. So, by closing below the 50-Month MA (which is very likely to happen), it will show you with TA that the current bear market is worse than the previous one.
💡Probably the price is going to kinda get stuck in this range (between the 7-Month MA & 50-Month MA) into the death cross between 7- & 50-Month MAs and take a nosedive into the summer.
#BTC is looking strong on the daily chart.
[ After consolidating in the support zone, we got a strong move up that was stopped by 50-Day MA (again). Look how it rejected the price several times in January. ]
📈 Today we has finally broken above 50-Day MA and now we are in the next resistance - 100-Day MA.
There is a chance to go over 4k but if you had a good entry this is a good point to lock in profits and leave some smaller portion to run for higher targets.
📌 We kept saying that we were expecting one more dead cat bounce in Q1 before new lows to lure more people. Looks like the bull trap is in play.
The longer it takes for the dead cat bounce to happen, the less chance to go higher it will have, because the moving averages are coming down as time goes.
[ After consolidating in the support zone, we got a strong move up that was stopped by 50-Day MA (again). Look how it rejected the price several times in January. ]
📈 Today we has finally broken above 50-Day MA and now we are in the next resistance - 100-Day MA.
There is a chance to go over 4k but if you had a good entry this is a good point to lock in profits and leave some smaller portion to run for higher targets.
📌 We kept saying that we were expecting one more dead cat bounce in Q1 before new lows to lure more people. Looks like the bull trap is in play.
The longer it takes for the dead cat bounce to happen, the less chance to go higher it will have, because the moving averages are coming down as time goes.
