Current Situation: Today we didn't do anything special. Bitcoin is currently jumping up and down as it pleases.
Prediction of others: On Tradingview, people still have no plan. Most are either very bullish or very bearish.
My last prediction: My last idea was bullish. There I suspected that we might be doing a running flat. It looks like that, but you can forget the idea. Even though this idea was partly true, I have to admit that I was very insecure with Bitcoin at the time. Meanwhile, it has changed.
Last idea:
My current prediction: Let's get to my prediction. In my last update, I've told you that I'm bullish for this month, which has not changed. However, I do not expect much movement from Bitcoin. I could well imagine that we are at $8,200 at the end of the month, but not more. Most of the time we should only go sideways. But that does not matter for the moment. As you can see on the chart, I expect a correction overnight without much movement. Currently we can not say exactly how this correction will look like. If this correction is as shown above, then I expect a move up from $7,000 to $7,700 before going on to the boring phase.
Final word: This time I do not have much to say here. I told you yesterday that I'm going to post a Verge Chart, but I've decided to retire for now. I can promise you that there are so many ways to make a lot of money before the final crash. After this month I expect strong moves, should we only make a correction which is most likely to me.
By the way: While I was writing all this, Bitcoin has gone up, making my upward arrow unnecessary.
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Short update: Should turn at any time. Fittingly, the longs went up. 1000 BTC Longs opened @7700. That's why I usually do the opposite. The crowd buys at the top and sells under panic in the bottom.
Longs:
Shorts:
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Short update: Wow.. at the moment, everyone really is expecting either doom or moon. Then there are those who think we are in a triangle. These will be beautiful days when many will fall for the trap. And these people are honestly not sorry for me. When you make money while trading, others have to suffer. That's the way it is. As a trader, you have to be able to act emotionless, whether the trade is for or against you. By the way: The first longs closed already after a $50 move. They will be annoyed not to have held their positions once we are at $8,000 in a few days. But first we should drop by about $400-300. Maybe now or later after another upmove to around $7,800.
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Short update: The correction could also look like this with a running flag in the middle. In this scenario, the people who closed their longs would be very annoying and the people who had their shorts open would lose money.
I think we'll start crashing soon, I expect major downmove from 7.9-8.5k
DaryBxt4
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Thanks for the awesome analysis. Bow
P3t3ris
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Final crash will come IMO, the time is yet to be seen. Looks like people are now starting to realise this Final Crash -possibility, which delays it.
These volumes can´t support these levels in general, people seem to overlook that a lot when making predictions for moon short-term.
I´m more than 50% in crypto but staying flat until I get clearer picture for my next moves. Above 8k I might sell some more of my stack and then wait again.
Expecting a sudden drop to below 6.5k levels after raising prices for some more time and leveling there, but let´s see...
Bigger buys only +10k if volumes are up for longer period or -5k on our way to the bottom and seeing signs of reversal.
Thank you E55 for posting these charts and exposing yourself to people´s comments. Highly respected!
P3t3ris
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I meant dropping to sub 6.5k and leveling there after maybe some more raising prices, not leveling any higher than this. Down we go! My bad :)
E557
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@P3t3ris, Think the crash could take another 2-3 months. But yes, a drop down to $6,300 in the next few days/weeks after this correction should come. I'll post something when the time comes. Thanks for your nice words.
NewYork888
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Exactly why you want to stay flat here in this are or blow out your account. Thank you for this post.
Mishomeister
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You are a machine. Keep up with the good work!
sasquatron
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Thanks for the charts sir. Appreciate your analysis. Pitty you’ve decided not to post a verge chart, I would have loved to see your thoughts on a profitable entry level. 500 sats seems reasonable for Verge considering the long term trend line it’s sitting on, but feeling we might see 450 or even 400 before it takes off.
E557
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@sasquatron, I will post some altcoins later. Looking for good options.