BitcoinShort
Bitcoin - An idea outside the box
Do not get me wrong, I'm bullish BTC for the long-term.
But now I'm just trying to think a bit outside the box here following all those times we had FOMO, mass hysteria when BTC price went up.
And right now we have it, people expecting a breakout of the last ATH, specially because a lot of retail expect it to go to 100k,
everyone is anticipating it again.
But if you think for a moment, it could be a perfect retest at 60k that could create a catastrophic sell-off.
One big reason can be the large amount of buyers trapped in the market from FOMO at the ATH we had this year, it can lead to a panic sell-off so they can get out of their positions at break-even or assuming a small loss.
At the same time, a lot of people can be viewing BTC 50k as "support", so a lot of buyers will enter the market at this point if 50k is re-tested, because the masses have been aiming to 100k and they don't want to miss out.
If this scenario happens, it creates a major opportunity for a wipeout, and there I have my idea of BTC going back to levels like 26.5k or even the lowest I can see which is 19.4k.
But why this?
Well, simple, most people should know by now that it's hard to call tops and bottoms, you shouldn't even stress about it.
The only thing I'm doing here is using technical and fundamental analysis and my reasons are:
1- I can spot liquidity at lower prices like I'm doing here, gaps that were left behind. The past tell us a story.
2- U.S is on the way overcoming China to lead the world with the largest share in global Bitcoin mining networks according to data from the University of Cambridge.
3- Now we have people alarmed by the new Bitcoin ETF approved by SEC.
Can you spot what's happening? I won't dive into the subject here because I just want to share this idea, but try and look at both sides, question things...You have to use that malicious mind sometimes, this is a game of give and take.
As you can see it on my chart, I see the next ATH probably at 74.865. But when? No one knows, and if someone tells you that they know, well...
But for now, if a major sell-off happens, I can spot the lower price of 26.5k and this is my idea, no harm, no fear.
I like crypto a lot, I'm bullish on it long term, but right now this is what I see and I don't get blind by looking at the charts and only cheering for higher prices just because I'm invested on it.
We have market cycles, nothing goes up forever as it never goes down forever as well, price moves in waves and I would gladly buy more BTC at lower prices if this happens, because I'm not worried for what can I get instantly, but playing for the long-term and taking profits on the way.
It's simple like this, if you play this game emotionally, you are going to be ruined by it.
Well, that's it.
Posting here so I have it recorded and in the future I can see if my idea played out or not.
But now I'm just trying to think a bit outside the box here following all those times we had FOMO, mass hysteria when BTC price went up.
And right now we have it, people expecting a breakout of the last ATH, specially because a lot of retail expect it to go to 100k,
everyone is anticipating it again.
But if you think for a moment, it could be a perfect retest at 60k that could create a catastrophic sell-off.
One big reason can be the large amount of buyers trapped in the market from FOMO at the ATH we had this year, it can lead to a panic sell-off so they can get out of their positions at break-even or assuming a small loss.
At the same time, a lot of people can be viewing BTC 50k as "support", so a lot of buyers will enter the market at this point if 50k is re-tested, because the masses have been aiming to 100k and they don't want to miss out.
If this scenario happens, it creates a major opportunity for a wipeout, and there I have my idea of BTC going back to levels like 26.5k or even the lowest I can see which is 19.4k.
But why this?
Well, simple, most people should know by now that it's hard to call tops and bottoms, you shouldn't even stress about it.
The only thing I'm doing here is using technical and fundamental analysis and my reasons are:
1- I can spot liquidity at lower prices like I'm doing here, gaps that were left behind. The past tell us a story.
2- U.S is on the way overcoming China to lead the world with the largest share in global Bitcoin mining networks according to data from the University of Cambridge.
3- Now we have people alarmed by the new Bitcoin ETF approved by SEC.
Can you spot what's happening? I won't dive into the subject here because I just want to share this idea, but try and look at both sides, question things...You have to use that malicious mind sometimes, this is a game of give and take.
As you can see it on my chart, I see the next ATH probably at 74.865. But when? No one knows, and if someone tells you that they know, well...
But for now, if a major sell-off happens, I can spot the lower price of 26.5k and this is my idea, no harm, no fear.
I like crypto a lot, I'm bullish on it long term, but right now this is what I see and I don't get blind by looking at the charts and only cheering for higher prices just because I'm invested on it.
We have market cycles, nothing goes up forever as it never goes down forever as well, price moves in waves and I would gladly buy more BTC at lower prices if this happens, because I'm not worried for what can I get instantly, but playing for the long-term and taking profits on the way.
It's simple like this, if you play this game emotionally, you are going to be ruined by it.
Well, that's it.
Posting here so I have it recorded and in the future I can see if my idea played out or not.
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