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Crypto bottoms when we have our next "world event" similar to covid pandemic
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[quote:nemo_solus:MV81Mjc0MzUyXzk4NDU3NTgzXzdBRDI4NzA4] [quote:Mr Cheese:MV81Mjc0MzUyXzk4NDQ0ODM5XzVFRkVBMkQw] nemo im getting the feeling this is a trap/fakeout rally. exactly like you proposed. trying to short a couple garbage unknown altcoins right now. this just feels [b]TOO[/b] easy to keep going up from here. not convinced it has to keep going up anymore. every amateur T.A. person there is became bullish when bitcoin got above the 200 day moving average... the whales know that. i like to do the opposite of what the herd thinks. [/quote] Hi Cheese! There is a lot of logic in being contrarian. I'm still not completely convinced this isn't some sort of exit pump or such and the whole Stablecoin thing bothers me, but they are what they are. Our struggle is to figure out how to trade what it is. I'm sort of at a crossroads - my original trade plan has gone essentially as anticipated (although much faster than expected) and I'm waiting to see how the market will go next. [imgur]https://imgur.com/a/oo1R7wy[/imgur] The flow of Stablecoin cash has been my primary signal and as it's now down along the lower support trend I'm waiting to see how it reacts. If it continues with the pattern, it should go back up again, signaling lower prices. If it breaks down, the pattern is invalidated and it is likely we are going into a more bullish period (for however long that may be). [imgur]https://imgur.com/a/wENEPgs[/imgur] Stepping back to the weekly BTC:USD chart and looking at the RSI & MFI, the market is not oversold at all and the MA's indicate we can see the new likely resistance zone and target price if we continue up (~$24500). I'm still in the same longs as from two weeks ago and still going to go with the idea that we may catch some FOMO and things will continue to pump. However, I have adjusted my trailing stops closer now to preserve more profit. Your idea to look at the newer Alts that haven't had a good pump cycle yet is a good one, ICP/APE will be on my list to look at! [/quote]
Original Message
15.6k is not the bottom.
Crypto will bottom when we repeat the march 2020 "covid pandemic" market crash. Politicians will use this "emergency" to begin their money printing and cause assets to begin their bullrun.
We are not bottomed yet.
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Original first post below
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Thought I would log in under my account because my last post was as an anonymous coward.
Anyways.
I told you xrp would dump at 1.70 last year down to 50 cents. I was perfectly correct while you all flamed me for months.
I told you 69k was the top for bitcoin and you all flamed me for months.
I told you 48.2k bitcoin would resume the bear market due to a bearish gartley harmonic, along with hidden bearish divergence on the daily RSI, classic bearish divergence on the daily macd, 3day RSI trendline resistance, 400 day moving average resistance and 200 day moving average resistance. I told you this on march 29th the DAY bitcoin hit 48.2k. If you can't tell, i'm fucking proud of this one. Told you bitcoin would come down to 20-24k back then.
And i've told you that we are not bottomed yet. I told you 17.5k was not the bitcoin bottom. I told you multiple times.
This won't bottom until everyone is hopeless.
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