Market cycles applied part 2. June & December bubbles.
Updated
Let's assume 8950 was the top, or very close to it. Just to be prepared in the eventuality people that shorted at 8800 ish are not going to get liqudiated. Never know...
Want to have a look at BitconnectCoin previous bubbles or in other words months of June & December.
1- June 2011
2- December 2013
3- June 2014
4- December 2017
5- December 2018
6- June 2019
What we can extract from these 6 examples (or 8 with dec 2013 *3)
> When it dumps, if this was the top (I believe it is), it probably sees a large retrace (EW 1 rule). EW says 0.786 at least. Can be slighlty less.
> Bitcoin dropped 11% at 6k and 22% at 8.4k, next dump 33%? That would bring us to 6000 exactly.
> Where to re-enter exactly? This is for me to know and you to find out. Re-shorting around 0.786 is a pretty good RR, above 5...
> People keep falling for the same stuff. Every body sees the same chart. I don't get it. Too obvious... Rince and repeat december 2020 maybe.
> Bottom 900 to 1800 not sure where exactly yet...
On the bubble chart denial it at the top, on the wall street cheat sheet denial is in the middle.
Careful you talk about the same thing when you use that term.
Honestly, they are in denial during the entire bear market. We should use different names.
This:
Want to have a look at BitconnectCoin previous bubbles or in other words months of June & December.
1- June 2011
2- December 2013
3- June 2014
4- December 2017
5- December 2018
6- June 2019
What we can extract from these 6 examples (or 8 with dec 2013 *3)
> When it dumps, if this was the top (I believe it is), it probably sees a large retrace (EW 1 rule). EW says 0.786 at least. Can be slighlty less.
> Bitcoin dropped 11% at 6k and 22% at 8.4k, next dump 33%? That would bring us to 6000 exactly.
> Where to re-enter exactly? This is for me to know and you to find out. Re-shorting around 0.786 is a pretty good RR, above 5...
> People keep falling for the same stuff. Every body sees the same chart. I don't get it. Too obvious... Rince and repeat december 2020 maybe.
> Bottom 900 to 1800 not sure where exactly yet...
On the bubble chart denial it at the top, on the wall street cheat sheet denial is in the middle.
Careful you talk about the same thing when you use that term.
Honestly, they are in denial during the entire bear market. We should use different names.
This:
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