Bitcoin Will Crash: I Told You So!

8 окт. 2024 г.

Here is the dynamic that I would like to show on this chart: Consolidation leads to an uptrend. Then consolidation leads to a downtrend.

An uptrend cannot happen without consolidation first.
A downtrend cannot happen without consolidation first.

On the left side of the chart, the sideways pattern is extremely clear. Prices are low and at this point we are ultra-bullish. The consolidation phase led to growth between October 2023 and March 2024, massive growth.

There is no more growth after March 2024. We have consolidation but with lower highs and lower lows.

On the right side, the sideways pattern with a bearish bent is also very clear, prices are high and at this point we are ultra-bearish. The consolidation phase will lead to a major crash. It will be major because it has been 7 months in the making, that's the reason why.

You know people take it that the correction is not happening because it takes a long time. It is not happening because it has been going sideways for a long while; but, back in 2023 it went sideways for 7 months before breaking bullish. You would be surprised that the same people that are writing all their insults and personal attacks in the comments section were the same ones saying that Bitcoin would never go up. I shared 600 charts saying that it would grow. It is the exact same in reverse and it happens all of the time. It happens every year and in every cycle. There is always lots of new people. People never belief what is going to happen because they have a vested interest. The people that cannot see reality for what it is right now is because they want to see Bitcoin going up, because they bought high up, are LONG, etc. Back then the people that wouldn't belief people would grow is because they wanted to see it go down, they were SHORT, etc. They become conditioned by the market.

So you've been conditioned to belief everything is great, new All-Time High next week; 100K, etc. But you already forgot that you got nervous when Bitcoin broke below 70K. Now it is trading at 60,000 and you feel safe, but it is already 10,000 below 70K and 70K was the baseline. Soon it will be trading at 50K, then it will be lower and lower... We cannot blame the whales because 7 months is plenty of time to sell high. 7 months is plenty of time to educate yourself, to learn and adapt to market conditions. Any mistakes, you can only blame yourself. And honestly, there is nobody to blame, we just accept our mistakes, see where we went wrong and learn from those actions as to not repeat them in the future.

It is not easy to accept when we are wrong. Just seeing some of the comments surely reveals why we are in this situation, many participants are not that intelligent and we cannot blame them for that.

Once the low is in, there is no excuse though. At that point we forget the insulting and name calling and focus on the chart.

We are here long-term. This is nothing, this happens every time and in every single cycle, people can't belief what they can't see, and they can't see what they have been programmed not to see. Or, it is hard to see something you don't want to see.

If you accept a different perspective then you have to take action and that would entail doing things you are not familiar with and thus you prefer to lose money and that's ok.

We are here for you, not just me, my followers know what is happening and they can see the chart. Everybody knows... You are the only one that does not know and you will be surprised, even though you are reading these analyses, these trade-ideas, every single day.

Amazing isn't it?
You will be surprised by something you've been told that is going to happen every single day.

It is amazing how life works.

I won't laugh.
I won't rub it in your face.

I will just come here and say, "We all make mistakes."

Whatever happened in the past is the past, let's move on and focus on growth next. But this only after the low is in and this is what is about to take place.

Bitcoin is about to crash! There you have it, I said, what is wrong with that?

Knowing ahead of time what is going to happen can help you prepare and protect your capital or at least reduce the effect of the impact.

You don't have to take action, but at least you can accept the fact that this is not my opinion, I am translating what the chart says.

The chart is saying that Bitcoin is going down.

Namaste.

10 окт. 2024 г.

Сделка активна

The drop is on but how far down can it go?
We are going to get a lower low, let me explain why.

Here is the chart:

➖ The drop starts at "A" and this is in late July.
➖ Then "B" marks the end of the first wave.
➖ "C" ended as a lower high compared to "A."
This is the reason why we get a lower low:
The duration of the first wave is very small compared to the second one, that is, from A-B vs B-C. While the market had almost two months to complete B-C, it still ended as a lower high which is sign of weakness.
➖ "D" is likely to end in a lower low as a continuation of the initial bearish move.

The final leg down can last much longer than expected.

For example, the move has been in the making since 27-September which is 13 days. The entire down-move in late July/early August (A-B) lasted only 8 days. So this can become more extended. Only at the end it will gain in bearish momentum.

Many Altcoins are breaking bullish as Bitcoin breaks down.

Namaste.