Only to remember: At the beginning of the bear market, many thought we would bounce at $18000, $15000, $10000. Later, many people think that we will never go below $7500 again. When we were at $6000, many expected $4000-5000, but instead we've gone up. After a $9000 breakout, many now say we would see $12000. What is next?
Listed signs: -EMA cross -RSI bottom and same course -MACD crosses and same course -Downtrend line breakout = Bull trap?
Conclusion: I still believe that this is a bull trap.
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Why did not I compare the charts in the short term? if that happens, then we can predict the next time more accurately:
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Volume getting lower, charts in different time frames are showing bearish signs.
Is this the coming drop?
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Question to you:
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Just postet it as an idea. I would be glad if you take a look on it:
I am so happy that we finally reached the point when we can see if the price follows your graph or not. Finally it will over so that you can stop posting the same graph every day...
FenixCapital
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When you look at the current BTC chart you can see it is spiking up with force, complemented with breakout volume greater than sell volume - which he very convienently left out because it would nullify his analysis as buy volume didn't breakout on the NASDAQ OR 2014 BTC chart which is why they formed bull traps (bull traps are when price bounces on low volume and is therefore un supported and leads to a continuation).
This instance is simply not the case, this is by definition not a bull trap because this jump is backed by volume that will prevent a continuation/bull trap.
Furthermore, notice how on the 2014 BTC chart and the NASDAQ chart, as the price broke through the ema it began losing momentum and curling down again? That is the demonstration of unsupported volume that established the bull trap and return of bearish momentum.
Your argument is invalid.
darkandblue
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@FourthFloor, correct the volume is completely missing there.
Jam0725
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Bro, you got rekt :(
jia888
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You can keep believing it...but it doesn't look like it's happening.. This isn't TA anymore, just some wishful thinkings.
AlanSantana
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The part that I loved the most was when I clicked "play" on the Bitcoin 2014 chart. Amazing.
E557
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@alanmasters,
Namaste :'D
WaldemarwalD
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Feb 13
He wrote in the previous chart:
If we break 9500 than look for a target of $10000 and buy back at $9200-9500,
but lets see if all this will happen
With a breakout of $9500 I am very bullish for the rest of the time.
Now he tell:
I still believe that this is a bull trap.
Maybe yes or maybe no, I don’t know. The first chart that I never open one more time
CryptoSwindle
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Same thoughts of mine, excellent topic E55. People called me stupid for calling bitcoin in a bubble in december, but only the traders in the group I'm part of knew it was also a bubble and that it was their karma if they bought on the top and calling one stupid that it can go to a million dollar (it can, but it won't - see the law of large numbers & tech gets obsolete fast, unless one can create a monopoly). Now people are bullish again when I'm still bearish. This looks exactly like mt gox period, indeed.
I expect dump next week before and there are many fundamental reasons in the bigger picture I've kept seeing in front of me in moments of rest - They are ALL mutual inclusive with one eachother:
#1 Regulations in crypto;
#2 Smart [big] money cannot legally enter crypto space, except futures (cboe and cme);
#3 FUD needs to be spread via social media and MSM in order for the powers that be to control this entire space (nationally and finally internationally, preferable they create new institutions and department at your expense to protect you of course):
#3.1 Tether;
#3.2 Hacked exchanges (I expect more and more problems with crypto exchanges this year than ever before);
#3.3 Hacked/phished private accounts;
#3.4 Criminal use of crypto;
#3.5 People buying at the top again before the dump, then people complain about the manipulations in this market (and yes, I've seen it a lot, starting with the 10x pump by bots in 1 month during mt gox before the crash in '14 and it's still on going very strong on the largest exchange in the world) and something to be done about it (they lose faith in crypto and don't want anything to do with it anymore, when smart money is picking up crypto on the cheap).
Etc., etc., etc.
That doesn't mean you can profit in the meantime. I'm only scalping with max 10% of my equity on both sides. I'm waiting for the real bottom, as I think we're still in wave 4. The charts are being painted with little to no volume, yet the price shoots all sides (I suspect bots, especially lucrative to liquidate positions - and you thought only angles were in this space?). I haven't seen Mr. Spoofy since his last dump to 6k, maybe hes on vacation. He would appreciate this price to dump it yet again for max gains.
Just my thoughts.
mycoinmoon
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I think you got this one wrong E55...if CME pushes this up to high the news picks this back up and we fly. Your TA might make sense but the external factors need to be considered. Not saying we cant go down but the starts are aligning at the moment for longs. After the 23rd if you do not hear about btc on the news you will be correct.