Feel like Michael J Burry in the Big Short - longing Bitcoin whilst listening to metal music and watching everyone around me panicking.
I believe we may be in the process of a technical move I like to call: "shifting the fuck out of the zone"
Yes. Definite feels of “shifting the fuck out of the zone”. You see how strongly they’re pulling away? Trapped the shorts - now it’s time to liquidate them.
They will only send it when people have stopped shorting and they’ve got all the liquidity they want from this region.
Stop shorting, for the love of your account balance. $btc #Bitcoin
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1/ As much as I’m able to call the tops and bottoms of Bitcoin I find that I struggle with Altcoins. Partly because I try to keep my eye on too many. It means I often get a poor one-time entry or else get too greedy when thinking of where to take profits
2/ Then I get annoyed because a) sometimes I’m stuck in a losing position for a bit without wanting to add to it cus I’ve already gone in big and b) when price retraces from highs I’m left feeling like I didn’t take enough profit
3/ To sum it up I can usually call the direction right on Altcoins but my entries and exits are usually poorly timed due to FOMO. Something we all suffer from. I’m fine with these things on Bitcoin but that’s because I literally know that chart inside out. I watch it 12 hrs a day
I try to show you my thinking process throughout the whole move. I don’t just draw a squiggly line on a chart. I give reasoning and projections with high probabilities.
I want people to learn along with me - seems many of you are doing that and it makes me very happy!
I’m going out for the evening. I’ll be keeping an eye on what they do with Bitcoin. If they do start coming down towards those lows again with aggression I will look to cut my long. However, I think the storm has been weathered and they’re just trapping more shorts atm
For what it’s worth Thursdays are usually reversal days. I’m slightly cautious about there being a full on reversal today. All I’m looking for them to do is shift it out of this zone a little bit. But i do think we’re at the bottom.
The only place i think they could potentially come back to is this green vector. There is still the possibility they sweep the lows of this range to get this. I’m not fudding - we just have to be aware of the possibilities
My portfolio has just hit a high that it hasn’t seen since May 😭
After May i vowed to learn what happened and why my portfolio cut in half in the space of a week. I did not know much about the markets at that time
Then I started learning. Paid for courses and signals. All useless. Got rekt even more. Portfolio was going down even further to 25% of its peak value. Lost a lot of my hodl I had built up over the years through panic selling and funding futures that got liquidated eventually
Then I found out how the markets truly work in July-ish From a dude spilling the truth for free on YouTube - @Tradersreality
Now my portfolio is back at about 60% of the high in May after a lot of grinding and readjusting of what coins I really should have in my portfolio
Honestly, I don’t know whether to be scared or excited right now. MM has us all on the edge of our seats. Whatever happens next is going to be huge.
My bet is on the upside. The only true question for me is will they do a big fake out to the downside first.
November 2017 vs November 2021
Something gives me the feeling that those who are scorning Plan B will have their mouths shut
If something like the above does play out then make sure to take profits on your Alt positions as Bitcoin Dominance might come into play and fully wreck them