Is a 70% crash to 28k in Bitcoin’s near future?

11 ก.พ.

On the above 16 day chart there are some interesting observations worthy of attention.

1) Bearish divergence. Not just any divergence, a divergence that is measured over 3 months. It is the same divergence used on the recent "short" idea on Ethereum, published in Mid December at $3700, now $2600.

Is this time different?


2) Support and resistance. Look left at this legacy support and resistance. A confirmation of support or resistance results in a significant move in price action.

Does that look like a confirmation of support forming?


3) RSI support breakout. Look left.

Is this time different?


4) Almost every Youtube outlet is calling for silly forecasts to 170k, 250k, 300k we’re in full euphoria mode. The majority are blind to it. Love is blind.

To be clear I’m not calling for a correction right now, this is a 16 day chart which takes weeks to print a candle and confirm trend. Like 14 weeks.

Is it possible price action to continues with higher highs? Yes, and it is expected.
Is probable the silly targets the internet is calling will be realised? No.

Ww



Ethereum same 3 month divergence

เมื่อวานซืน

บันทึก

A number of messages during my absence on this idea. The trade is not yet active and don't expect it to be so for some weeks. It is published as a preparation of things to come.

5 ชั่วโมงที่ผ่านมา

บันทึก

Tempting to call this "trade active", but the market top is not yet in...

4 ชั่วโมงที่ผ่านมา

บันทึก

Now 83k.... at 63k Micro strategy has a real risk of forced liquidation in order to payoff debtors resulting in over a hundred thousand bitcoins being dumped on the market. This could easily take price action back down to the circa 30k area.

Welcome to the Ponzi.

Read all about it here... no different from a retail investor loaded up on leverage.

The MicroStrategy Liquidation: Could They Be Forced to Sell Bitcoin?
bitcoinworld.co.in/the-microstrategy-liquidation/