Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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From my personal very short experience (comparing to some of you) and knowledge I got on my own, I say it's not a bull market unless BTC decisively close above that thick red line, retests it and goes back up.
Otherwise we are in for a ride along that thin blue line (very speculative).
(Thin black and blue lines are the Wolfe lines. 1-5 count is according to Wolfe).
Stay tuned, stay safe ;)
P.S. Check out my best charts attached down there.
P.P.S. Last year I went on a date with a guy, who said he got some info from some connected people, who said they would pump it one more time by June before really crashing it...who knows, may be that could be legit info...:)))
On the last note, I personally believe, that BTC will be retired at some point and followed by a new generation of crypto currency or the one, that has been an underdog for some time... (check the Phoenix story under my previous charts).
@nnichos@longmoney - Always REMEMBER that The Whales #1 weapon against your mind is TIME! Stay away from short timeframes. You see, @nnichos knows what she is doing because she is using a 3-day chart. The Whales even fooled me today but I know better and sold at $8,800 and now I'm short. Spring rally is over. Time for DUMP. Give it some TIME though... few weeks. We'll see.
The HERD will always be fooled by time.
mightytrader
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@nnichos@longmoney - I saw the Whales buying it up just under 8k today. I covered my short at just under $8300. I will reshort when they PUMP back to $9200. I think they will PUMP again. Eventually, I think it will dump to 6k area... but not for a couple weeks. Maybe in June or July. And I think it will dump to $4500 sometime further out; many months out.
However, Bitcoin is currently in a long-term uptrend.... Next year or year after or the following year it can go pretty high.
mightytrader
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Bitcoin still has momentum left. So, I think it will pop back up to 9k to encourage HODLING behavior. It needs lots of holders and true believers before it can dump hard, IMO.
mightytrader
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All I know is that when they PUMP I'll be selling into it and riding the DUMP! I could care less if they PUMP it to 10k or 100k. At the end of the day, it's just a number on a screen. There's no need to be greedy and worship money. Don't be like the HERD thinking it is easy to get rich without strategy.
longmoney
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@mightytrader, Agreed. Strategy is key. Bull Market, Bear Market does NOT matter...
mightytrader
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@longmoney, I set my limit sells in the lower 9k-9.5k area. Who's to say we can't PUMP higher? =D $$$ Of course, we don't have to... that's why I am not longmoney. ;) (pun intended)
mightytrader
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@longmoney, PUMP baby! I sold in the $7600's Found a great 2:1 RR. DUMP time. =D
mightytrader
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@longmoney, SUPER PUMP! I didn't think they would do it... but they pumping more. SELL into STRENGTH! Tight SL. Ok, that's all. I'll let you know how it goes.
mightytrader
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@longmoney, I found a better trade. Still in same position and added a little more. I see it being dumped to lower 6k. If not, then they'll probably pump to 9k. Ok, that's all. Longer term trade.
mightytrader
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@longmoney, They are probably going to PUMP higher.... maybe violent pump UP to upper 8k or 9k. I had to end my short trade.
The HERD will always be fooled by time.