Something to look for if Bitcoin starts pulling back.
I believe our options are limited here. Either it goes up only, no pullbacks only horizontal cooldowns. Or we do this and just pray that the next move will be bullish consolidation and not the opposite.
I believe our options are limited here. Either it goes up only, no pullbacks only horizontal cooldowns. Or we do this and just pray that the next move will be bullish consolidation and not the opposite.
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I've been talking about accumulation for months. But what you see above is bait for both sides. Be careful with your bear market bottom calls for now.
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What I see is, the average trader has recognized the accumulation but he is trading it incorrectly right now.
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Early movers already topped nicely. Some have still job to do. Eiffel Tower makes sense. Trap with every step.
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I'm sure some bulls are hoping to see this which may be the case. But that's just going to end worse in the end.
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At this point the higher is not better it's worse. Unless you have some crazy crazy narrative to support such craziness.
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Still waiting for this kind of hunt.
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Imagine.
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It's starting to look like bullish consolidation imo. Maybe the bubble will grow.
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I'm starting to take this possibility seriously.
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Now it's ugly.
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Honestly this is screaming dump :D But we'll see.
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S/R like this always makes me uncomfortable about a trend change I wanna see clearance. But the market doesn't have to anything anyway.
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This should go down very soon imo.
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It might be this easy because shorting BTC was too hard for too long... in a bear market :D
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Feels like BTC still needs to convince more people that it's going up, doesn't it?