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REPORT ABUSIVE REPLY
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Message Subject
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Crypto bottoms when we have our next "world event" similar to covid pandemic
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Poster Handle
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nemo_solus |
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Post Content
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i am highly... highly convinced that this is not the longterm bottom. the only thing i'm not sure of is how long this bullshit lasts before it goes down again.
Quoting: Mr Cheese Completely agree, this is not a long term trend reversal. There is too much bad news waiting under the surface from the FTX disaster that can still wreck the market. When that starts coming out (and who knows when that may be, but likely sometime within Q1) we'll be back to the bears. I'm sort of wondering if this isn't an "exit pump" of some sort. For now, it's a good trading opportunity, just have to be careful not to become a bagholder. looking at the usdt.d chart... it seems to suggest we might be repeating the july 18 2021 pump right now. if that is the case and if it takes the same amount of time... and if bitcoin does the same type of pump? this may last until end of april. i could see bitcoin going up to 56k. that's my extreme hopium top target. i just dont think it's going to happen... but if we repeat the usdt.d action... why couldn't it happen that way? i would LOVE to see the usdt.d at the 200 day moving average when i'm interested in shorting again. i'm very into this usdt.d chart now. super interesting new way to look at the markets. if this really follows then the bear market starts in may. anyone who follows crypto knows that may is usually a bullish month. people actually trade based on that. i don't. but people know it's usually a good month, statistically. i like to counter-trade what people "know." https://imgur.com/a/ZneBNbd It's a bit ugly and just thrown together, but did a mockup of your July 18, 2021 comparison to where things are now. From the top to the reversal low, 48 days and ~50% puts us out to around Feb 16, 2023. I think that's too fast and too much for this time, my best case scenario is back down to the lower trend support (red line) before reversal. Happy to be wrong on this though. :) https://imgur.com/a/UoDRPlq BTC staying on course, still waiting to see how it interacts with the upper trend line and/or the resistance zone.
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