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Btc-short

Incoming PainWe have to dump before we can pump. Can't get to max pain in the 30's, and between TA, the fud in the news, and the fear surrounding the greyscale unlocking on the 18th could give us a nice dump in the coming days. Even without it, we've broken down out of a wedge (that was inside of a triangle), and there's an argument that can be made for a puny h&s, so down is gonna happen more likley than up right now. This most likley will be a slow bleed to the low 30k's over the next few days, then on the 18th when the unlocking happens, that could be a catalyst for a dump to around 27k, potentially as low as 25.6k. This will not be quite enough to hit max pain, which is probably going to be reallllllly close to the previous cycle ATH around 19.4k. We will likley bounce to 33-35k again (probably on the lower side), so we can repeat this cycle of hope and despair that sideways causes, but there will probably not be any more bouncing around after that. The next time we go down will be max pain, and the market will finally break out up or down, ruining us or making us all life changing money. Try not to get shook out yet, the best is (probably) yet to come
BITSTAMP:BTCUSDShort
by CryptoidiotQ
3
Bitcoin Idea: Wyckoff reversal, temporary correction + peak Dec.Many of heard about the storybook Wyckoff schematic that took place recently and let bitcoin dump. This method is used by institutions and whales to take maximum profits and demoralize the small investor. It seems to work out just well. This idea shows the "bullish" Wyckoff method as a reversal to the bearish one right after. Of course, everything is possible, a longer bearish period, an instant reversal, or a sideways movement. I think the last one is most likely to happen because: Bears and bulls get demoralized, fear on both ends "boring" sideway movements let people a little bit out of the mania. But they will come eventually back with extreme FOMO. And in another uptrend they supporting the buildup of that parabolic move we all need to see for the end of this bullrun. Its staying interesting guys be thrilled!
BITSTAMP:BTCUSDLong
by IAAFMM
1
Probably not the worst time to shortFirst off, the TL:DR Version: My general sentiment on btc is this Short term: Strong Bear Mid term: crab till august or september Long Term: Strong Bull Short till 30k as the Death Cross crosses. Strong chance we hit at least 28k, 19k not out of bounds. Lower than that unlikely. Analysis/ramblings I'm not a huge believer in the death cross in the BTC market, I've seen it fail to react or treat it as a golden cross for no good reason, maybe after this crosses I'll go back and do a look at that, depends on how interesting it is. That said, I have seen BTC crap the bed from a DC a few times too, and I think that as time goes on it's more and more clear that that's what is going to happen here. The only questions to me are how long the dump lasts and will it derail the halving model? BTC is in a sideways channel, a crab market if you will. It shows no signs of leaving that aside from the coming death cross and a possible head and shoulders (or a reverse head and shoulders, depending on where you think it's valid to start drawing that pattern out). I don't really see that movement as a "real" h&s but it might play out that way. The more times it bounces around in that "crab zone", the more volatile it's movement should become, until it finally breaks out. Since the start of the sideways channel, we have not see lower lows, but we have seen higher highs (at least, on the candlestick chart, line might be different), so my general feeling is that that's the direction we eventually break out when we do. However, with the days of decreasing volume and the latest break off of the short term bullish trend coinciding with a very near term death cross, I think we could see 29-30k again easy, and we could even be pulled as low as 19k, though I think the truth will probably be somewhere between there (24k-28k is my price target if we break 30k). I don't expect it to go much lower, there's still a lot of bullish support for BTC, we've seen 70% drawdowns on the daily chart in a bull market that didn't end the long term run, even as low as 83% intraday. The case for bitcoin is stronger than ever. I really think that after some time passes, this DC will be a short term event that scares a bunch of people that don't zoom out enough out of the market. It's still the mid cycle shake out after all, something has to happen to shake out all the cowards. It will only fuel the parabolic phase that's coming after the summer. I do think It's important to consider the giant macro H&S idea that's been floating around, not so much because it's likley, but because it's about the only scenario that I see that could really derail the halving cycle and 150k btc by next year. It would also completely kill the crypto market, and there's no real reason to expect anything like that on a fundamental level. But, you know, always prepare for the worst.
BITSTAMP:BTCUSDShort
by CryptoidiotQ