Please note the above idea is just my opinion.
Please discuss yours. :-)
This rally does have the potential to literally turn parabolic, which is why in my opinion it’s best to slowly scale out at major resistance with stops just below major support.
This rally could very easily be the next bull market beginning, or it could just be a massive B wave forming with a C wave bear market yet to go. From what I’ve learned in my past year and a half of experience, this seems like a textbook B wave to me, but I’ve also been wrong a lot recently.
Take that for what you will.
I'm an amateur, but it looks to me your short may be spot on. If we don't overextend yet again, anyway.
The black box IMO is where this should of stopped, but they heavily overextended it. There was gigantic sell volume in the sell candle directly underneath the black box. I believe this is where smart money exited.
The white box is where I believe this rally ends, to fill shorts.
The higher this goes past the black box, the harder and faster we're going to fall IMO.
This is gonna be fun to watch.
Let's see what happens everyone.
Wait and see- the institutions announcing their presence right now are nowhere near as bullish as everyone’s makes it seem. They are here to short our market into the ground again courtesy of Tether so they can accumulate a very strong position in Bitcoin for when it’s time to turn net long. Need I seriously remind everyone what happened shortly after the day futures were first released into this market? Now imagine ATH as Tether and CBOE/CME as Fidelity, Bakkt, etc.
When it gets worse and the market implodes because of it, institutions and those who pay attention will be in strong short positions. Everyone, EVERYONE was talking about Tether for all of a week and then as soon as ‘the bulls’ started pumping the market everyone saw dollar signs and ignored the bad news.
The bulls are pumping it right now for a reason and I’m betting everything I own that this is NOT going to a new all time high without a new low first.
Shattered will be the hopes and dreams of all you moonboys out here ignoring the warning signs right in front of your face and it’s laughable.
This parabola won’t end well.
Putting this here for later.
On a new AlanMaster idea shown here:
And this was the result. Notice I also included a picture of the recent comments I have made. In one comment I was discussing this potentially happening with Giorgio, and the other comment I'd discussed this potentially happening on an idea of London55555. So, where is this 'moderation' need coming from exactly?
Did I break the rules any time recently? What did I do to deserve my comments on other peoples ideas to be censored? This along with the fact that my 'The Satoshi Signal Appears.' idea being completely hidden from anyone but my follower base is a strong indicator someone is trying to shut me up.
I find it incredibly interesting that for some reason I cannot post immediate comments to peoples profiles anymore.When I go on to Alan's idea about Bitcoin people are freely posting comments, so am I the only one with this problem?
Also, notice the front page and how it's mainly bullish?
6/18 is almost here...
“I am noticing that after breaking out of a daily bear flag, Bitcoin may be printing an ascending triangle with a target just under $10k. Keep an eye on this.”
This may be Bitcoin’s final rally. Fib retracement from the dump we experienced yesterday just below $9k to what I believe to be the first sub wave of this next/final rally shows these targets:
Notice how $9,969 is one of those targets? Possibly, THE target?
y e e t
I just recently realized the 5-3-5 I’ve been suspecting from ATH has already completed. 5 down $20k/$6k, 3 up $6k/$11.7k, 5 down $11.7k/$3k. That wave however, could just simply be an A wave, and if this is a B wave as I indeed suspect, then we are looking at a 5-3-5 for B wave as well. That said, we are finalizing by my count a 5th subwave of a 5th wave. If that is indeed correct then that means the A subwave of the B primary is complete or very near complete. Then we have a substantial retrace to re-test bottom, and then and ONLY then will we find out if we are in a bull run or not. The way this looks on the daily and weekly, one way to gather an idea of whether this is a B wave rally or a new ATH forming is to watch for how violent the correction is and what fib retracement it stops on. B waves are violently fast, and if this IS simply a B wave forming then I’d expect a catastrophically fast correction downward for the B subwave. If this current rally is simply the A subwave of the upwards B, then the B subwave of B will be violent and the percentage lost will be upwards of 60-80%.
If my knowledge checks out, then we should not break below $5k at any point hereafter if we are in a bullrun. Any break below that and you can kiss the bull run hopes and dreams goodbye.
Please remember I am an amateur and these are only my thoughts.
Magic’s A subwave would be 5 waves. The B would be 3 and the C would be 5.
Though, I do see a higher low holding and not quite $3k immediately off the bat. His ABC would technically be the B subwave of the primary B wave. This would create a very slightly higher low, then we rally again for the final 5-3-5 subwave C of the primary B wave.
The more I think of it the more I begin to realize we may have indeed already topped out at $11.2k for this rally. I guess we will see in coming weeks but if indeed we are in a B wave bear market rally then the timeline of it takin place would be right in line with a catastrophic fall to new lows later this year.
Let's see what happens this time :^)
My preferred indicator of sentiment is real time. :^)