Alright fags here are my thought as promised. For those who don't know, I've been posting my astrology reading and advising to not buy over $6000 until trend reversal or support confirmation, we have both now.
This support line has been holding solid despite of the increase of volume. BTC was primed for a three dives pattern (which is a bullish pattern) but at this point looks like It won't go all the way to the bottom.
Yesterday we had the most highest volume since April 15th and the most bullish since February 6th. This phenomenon happens to combine with an increasing Shorting pressure which may start another cascade effect like we experienced on April 12 due to shorts buying BTC to prevent position liquidation.
TLDR This is officially the first higher low we experience in a cycle since the great market crash. It coincides con 2 very bullish indicators so we may see a higher high this time.
If all of this come true as it looks like we are in for a perfect cup and handle formation by February (remember SEC can extend their decision about CBOE's ETF up to the third week of February 2019) leading to a possible ATH regardless of the outcome.
go be a brainlet somewhere else pls, maybe plebbit.
Caleb Garcia
Me too. I guess we are biz dweller then.
Jaxson Perez
This is actually correct. We will see a little bit more downward action, but we wont break support. Shorts will reach ATH and the get liquidated in a 2 day or less period. We should see an easy 1K+ once they get rekt.
Eli Watson
Sounds like someone is salty their bullshit "TA" got called out. Take your tea leaves somewhere else. We are going down to 4k soon.
Gabriel Nguyen
>he fell for the TA jew
Dominic Young
Interesting we are at the very bottom of a cup formation
all the news for the incoming. months are teasers for the big event in February this is low key the begging of a bullrun. This nigga knows its shit
sorry, but still 2,679 days till next bullrun, kek
Leo Cooper
Don't worry I uploaded it again this time for our burgerland friends as a social experiment, we've somewhat interesting results so far.
This gives you a glapmse of the best ours to visit Jow Forums and how mature people are so you don't waste your time coming at certain hours.
Look how insightful and elaborated their responses are if they don't agree with something, this is hilarious.
Logan Russell
laughing at you dummies continuing to chase crypto dreams
you're never going to make it
just buy stocks lmao
Lincoln Green
ok
Carter Young
The buy signal was at 5800 4 days ago. Stop telling people to put in risky longs the second they open a bitmex account. If anything most people are waiting for a dip.
Jackson Gray
OP. Do you think it will hit 5800 one more time?
What will happen in the next few weeks
Cooper Watson
Not again, take a look at my explanations in the chart to find why.
Shorts still raising to a critical mass while price keep getting higher, short sellers will be obligated to either: A) Close their position to cut loses B) Buy BTC to avoid getting liquidated C) Get liquidated
So all possible outcomes lead to a big green dildo, in conjunction with the increasing buy pressure you may safely jump in.
People who can't see that is either braindead(new wave Jow Forums) or salty for not buying the very bottom(trying to catch a falling knife)
Question is, after the shorts are squeezed, why wouldnt we just bart back down to support?
Nathan Morris
simply bc of the sheer volume of shorts, in order for them all to cover the price will be almost 2x what it is now. Example see april 2018
Jordan Roberts
>why wouldnt we just bart back down to support? Everything is possible BUT...
The combination of increasing trading volume on the green side and shorts reaching such highs as always led to a trend reversal, by definition you're obligated to buy at whatever the price it's if you don't want your short to get rekt, this causes a cascading effect to liquidations.
On top of that take into account the expectations about SEC further notices regardless CBOE ETF in late september.
Take a closer look to the timeframe isnt perfectly aligned so dont get confused.
Did you seriously think that you could go onto any board on Jow Forums at any time of day and not get shitposters fucking with you?
Camden Reed
Critical resistance point has been overcome. Next stop should be the $6500s. Holy fuck the bears are going to have to fight hard or there will be blood on the streets.
Jeremiah Hill
Argument? I don't argue with retards, I just make fun of them.
the high will be 6580 then we go back down to 6000-6100
Brody Gutierrez
That was predicted yesterday, although the bottom was supposed to be $5900. What makes you think the whales won't wipe out all the small shorts?
Tyler White
You are objectively wrong. It literally cant seem to get past 8.5. We are going to retest support at 6k again and fail this time. Next stop is 5.5 or even a complete collapse to 4k.
It won't be till next year when we have a chance to see 7k again if even at all.
Evan Perry
>8.5 Meant 6.5
Gabriel Anderson
good point!!
>there you go, 1 minute of attention for you, go back to sleep no more (you)'s
Isaiah Cooper
Stop trying to edcuate Jow Forums they are all fucking retarded now they do not deserve to know what's happening
Tyler Morales
Aw, is wittle wetard upset?
Camden Robinson
it doesn't strengthen your skull shape, Andy. Why do you look like you have piece of your head missing
