My current state of mind: is this what disbelief feels like?
Hard to believe that 5.8k was the bottom. I feel like more time is required in bottoming process. Feels too good to be true for all those in a long position: CT looks euphoric - Vegeta 9k memes out already etc.
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The short squeeze happened: BTC went from $6500 to $6800 in a matter of minutes. This all went down whilst BitMex site was under maintenance - whales likely exploited this purposefully as there wouldn’t have been as much overhead resistance on ‘smaller’ exchanges i.e. Bitstamp.
My current state of mind: is this what disbelief feels like?
Hard to believe that 5.8k was the bottom. I feel like more time is required in bottoming process. Feels too good to be true for all those in a long position: CT looks euphoric - Vegeta 9k memes out already etc.
CT has been quiet recently since we’ve been rangebound for the last 2 weeks. This is the longest I’ve seen BTC range within such a tight consolidation pattern.
It appears as though a large impulse move is on the horizon. My hunch tells me short squeeze followed by large dump.
Shorts have been stacking up way too much vs longs and a whale will be tempted to exploit the liquidity a squeeze would provide only to short the market off of the inevitable news of a rejection.
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Based on SEC decision and following statement regarding the disapproval of the Winklevoss ETF, I’m starting to think the possibility of an ETF for BTC isn’t very likely for the foreseeable future - maybe until the existential threat of Tether is resolved?
@CryptoSays Do you have any resources you can point towards for further research on Gann? Any books, videos or websites that have been particularly helpful?
Prediction:
D1:
BTC will make contact with the 30MA in a couple days time at approx 7400-7700 level.
People will assume we’re heading to test 6.8k but we don’t.
Then we bounce and exceed the current highs of 8.5k.
We go as high as 10k and slowly grind back down.
Prepare to go long at key levels on the way down. Enter bids at 7900-8050.
Ladder down further at 7750-7450.
Prepare for alts to possibly make surge in this period.