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A completely different market. A bunch of funds scooping up Bitcoin. These pictures and graphics are more suitable for retail investors in Telegram channels. There will be corrections, of course, but nothing as deep as this for BTC.
Gentlemen, if after 118,000$ we don't go into a correction with a volume of a 30-liter cistern of red, then this episode may become my favorite horror movie.
- Deviation from MA 25 - record - The annual scale figure "cup with handle" remained without a retest to $75-78, - we have no globally red candles on the movement from $70,000 to now 118,000$ the first target.
Even if this is a "cascade" figure, then the target of 132,000$ will be closed within the framework of this movement. But then, I would include Jesse Livermore and "short this country to hell."
On the 3-day TF, I observe a divergence in the direction of RSI and STORCH RSI, which indirectly indicates a "pump of the last smile".
Further, in EACH of the events in the past, a fall of #BTC first by 70% (March 2020) Then 55% (May 2021) was accompanied by the notorious harmonica S.RSI. Large TFs. On each of the last waves of which we were fixed in the fall and a reversal occurred. Here we observe the situation in the opposite direction: on the last wave of the harmonica, we go to $ 118,000, the trend has already changed to the opposite. (We go from top to bottom) This is another "moment" with all the cumulative.
Not to mention the fact that in the last year there are practically no volumes for such a movement 👀
This situation is simple as hell, this pattern is simple as huck, here are some key facts for you to follow during this period
1( Correction for the major figure “cup with a handle” will follow soon (i think two weeks) Before the pattern run to the aim, waiting btc comes to a 89-92 level to test 2)with such domination we will see all alts multi correction up to -50% ( i am awaiting #RUNE for $3,5 or $2,56 even 3) the only option which can decline this movement is a huge market maker move on the governmental level (yes they can, everybody forgot, but USA after the last announce still Hold its aprox 60,000 #BTC for the sale. And they can. So keep this risk in mind
4) if 1 and 2nd will follow we will see the last spring for the #BTC before it becomes regulated
Moreover, in past posts I have expressed doubts that Bitcoin is 65% owned by retail investors.
We may see many more “confiscated” bitcoins ending up in the hands of the US government in the coming year.
This strait is not related to the Iranian threat; Let me remind you that when Israel was hit, the crypto market grew quietly.
According to the figures that are announced to us, about 50,000 bitcoins have surfaced over the past 3 months. Let me remind you that Germany was the first to sell “against the market”.
Further unknown addresses
Next is the USA.
The bad news is that if my theory is correct, then market manipulation is just beginning. The good news is that at some point they will need growth. But when and under what circumstances is the main question
You're not listening. You are guessing. You draw conclusions from the news, from hypotheses about how they will affect the market.
You bet on a fall because “in your opinion it should happen,” and you are definitely smarter than the market and can predetermine it.
I speak in the language of indicators and charts; the only tools that work, because the graph REFLECTS HUMAN PSYCHOLOGY.
You will be surprised, but manipulated news is created based on incipient market movements, and not vice versa. After all, for the latter, interpolitical scales are needed.
Bitcoin goes to 74, where next - we'll see. I'm annoyed by the dominance, it's too dynamic and doesn't allow the alts to relax so that we can all exhale and the alt season begins.
#BTC Be careful with shorts, there is not even a hint of a short movement either on the daily or on 3D timeframes. General setup (more than a week) for a strict long up to 74k.
Many interesting discoveries await us all in the crypto industry. Will it become an island of freedom for the masses? - the probability is negligible. Exactly the same way John Law, who was the creator of paper money, prophesied happiness for everyone at the beginning of the 18th century. But what I know for sure is that the number of bitcoins that are currently indicated as distributed among individual investors does not correspond to reality.
This is what I am sure of: if there were people like Makkafi, who was the holder of 1,000,000 BTC, according to some estimates, then there are others.
Why is it now that addresses from 10 years ago suddenly became active at the same time? Before believing in the upcoming large-scale market growth?
The principle of economics according to Thomas Sowell is not formulas, but an understanding of everyday processes. This is exactly how Michael Bury predicted the US real estate bubble in 2008.
We may be on the verge of the last major cycle before the collapse of the entire crypto system. But these are nothing more than theories.
#BTC Be careful with the bearish game now. Pay attention to the set up of indicators on the weekly and monthly timeframes.
Everything is very similar to 2021, and the most important thing is that the growth occurred WITHOUT VOLUME. Now the RSI is even lower at 27. The same flat volumes and the same oversold conditions.
The news no longer gives anything.
We are talking about local movement up to 63-65, and then the dynamics are unpredictable.
Let me remind you that dominance paints a very short trend, which can collectively lead to the first bullish impulse.
The market grows when everyone is waiting for the bottom, and the bottom does not come. When people are confused and doubt that the fall is not over yet. And at the same time, the news background suggests that there can be no growth.
When a prolonged sideways situation exhausts you and forces you to rush between two opposing decisions. And then, when the news continues to be negative, and people stop opening orders waiting for a more clear signal, that’s when growth occurs. But it will be too late, and FOMO will take its place.
Many never tired of writing about Bitcoin’s dependence on the US economy.
In today's example, we saw how little pressure there is from those who actually react to this news. So, in particular, a decrease in the inflation rate from 3.3% to 3% gave birth to that same candle of those same adherents to 59,000, but no miracles happened.
Let me remind you that the S&P 500, which reflects the state of the US economy much more clearly than Bitcoin, shows significant growth, unlike the latter.
And all because you are market makers who don’t give a damn about the US economy, they have their own plan and news - they create market movements themselves.
I collect lists of crazy, brainless people who write about Bitcoin’s dependence on the US economy.
For the sane, two points to ponder;
1) Bitcoin “did not collapse” due to the news. If you know how to read indicators of weekly timeframes, everything is very clear to you, “RSI is at the ceiling”, this is a correction.
2) when, for example, the dollar collapses and Bitcoin inevitably accepts tons of liquidity as a raft of financial salvation, I will put up lists of these crazy people to ask; Well, where is your dependence #BTC on US indices
In the next two days, #BTC will break the last low below 56k to collect all stops.
Based on the minimum RSI for the cue ball on the 3rd day, this can serve as a start to the coveted confident sideways move.
Together, given the existing dominance chart, we can see a slight drop in alta followed by a long wave of growth.
Whether this will be the beginning of a full-fledged altseason - only crypto-Zeus knows.
And yes, don’t forget to have a hard time laughing at 🤡, which are based on US economic news regarding Bitcoin. God forbid they write about a free economy led by #BTC
For those who like to write about news and Powell reports
Today it’s worth noting that the termination of the case against ETH by the Securities Commission, for some reason, did not cause (surprisingly).. a sudden increase in both ETH itself and the market as a whole.
But if this day coincided with the general growth of the market, a couple of wise men would have already written “ETH is growing amid the dismissal of the case against itself from the SEC.
Any movement is the result of the final trader and someone else's interests. The question is: will we remain in the market after the manipulation of billions of dollars?
First: publicly accusing a company of corruption schemes through anti-advertising in the United States is legal suicide. You can throw this news out of your head, it's fabricated and absolute childish nonsense
Second. For the 10th time, USDT has become involved in another case. You can skip this news.
Third. Before the 2020 Bullrun, cryptocurrencies were banned throughout China. Then the MINA protocol came out, the market was blood red.
Fourth. It was with the same news that the market suddenly began to grow with frenzied FOMO.
If after an outflow of incredible capital was supposed to occur in China and this did not change anything, then is there any point in believing in a protracted decline this time?
I remember 2019, when the situation was repeated to within an inch.
During those bloody days, I also watched how easily altcoins disappeared during small Bitcoin drawdowns. I was afraid that if it dropped another 5%, the alts would die. And guess what? It was after such a setup that everything went up and altcoins stopped reacting to Bitcoin.
This is non-financial advice, but I remember well the moment when what seemed like an obvious course of events gave way to terrible fomo.
Indirectly, the end of the decline is confirmed by the fact that the minimum leverage of x3, with which traders have held positions since that day, reached liquidation levels yesterday.
Moreover, the coincidence with the phase of the nearest full moon gives us historical data on potential growth.
With this I just want to give you a foundation for confidence and to be persistent, and then see for yourself.
I'll keep writing this as long as the crazy people keep talking about the Fed's correlation with Cryptocurrencies.
1) Let's logically; NOTHING HAS CHANGED AFTER THE Powell Report. The rate remains the same. Then the question is: is this fall a reaction to this news?
Answer: NO
2)Have you ever looked at the code on the hood of your car to at least know where to add washer fluid? - super, but when it came to crypto and losing money, did you decide to turn off your brain?)
Here's a question for you; Why are you given decisions on interest rates and what does this affect?
3) #BTC is not even legalized by the United States, in other words it does not participate in the official economy, it is still taboo.
How long will you continue to write about how the Powell reports influenced the crypto market?
Perhaps out of a desire to look more like a professional trader, or perhaps out of boredom, you decided to write about the correlation of #BTC with interest rate news. But no one influences the market like the decision of the final trader, and all news can only serve as a consequence of these decisions.
Tell me, what does #BTC have to do with the US monetary economy? It's time to turn on your brain. The correlation is conditional and depends on how suggestible you animals are.
Everyone here has a choice; develop the habit of the entire market and turn the crypto industry, which you yourself have repeatedly talked about as financial freedom, into the same stock crap in a new wrapper, or use your brains.
Are you so stupid that you don't realize the cause-and-effect effect of interest rates on US companies? There is a connection there; An increase in rates leads to an increase in the debt burden of companies, for example. A fall in the Employment Index indicates risks that need to be factored into the budget, benefits, insurance, and other people's lives.
THERE IS NO CONNECTION AT ALL, the news about maintaining the rate is NOT A POSITIVE BACKGROUND. So where does the candle come from?
You must understand how the market and news work. By itself, the factor of negative news does not affect the market and does not move it, but it can become a factor in the confidence of the decision-making of the majority based on the technical analysis that has been formed by this moment.
In the history of cryptocurrencies, there is a colossal amount of evidence that the news background affects the market only indirectly and not always. Roughly speaking; in a stronger figure, your positions could suffer much less than on these charts.
If you want, a combination of two factors; the growth of hype around the memcom NOT attracted a colossal number of unfounded positions, and the exchange, seeing a chart that reflects the potential for movement in orders, decided to take advantage of this situation and used liquidity to play along.
News does not destroy the market, the market is destroyed by a complex of factors, and one of them is blind purchases outside support zones.