Major move: another (failed) rally expected

exstasie

legendary

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Quote from: NeuroticFish on December 05, 2019, 04:21:56 AM

A short 9k-ish rally is imho not a bad news (anymore). You know.. pump and dump and pump and dump.. makes speculators rich. And they're plenty now.

Speculators generally don't make money on whipsaws. They lose it. They are getting chopped to pieces by this market, buying into uptrends that quickly reverse into crashes, and shorting into downtrends that quickly reverse into short squeezes. The people who use stop losses are getting them run. The people who don't are blowing up their accounts.

I don't know anyone who is trading well right now. Even those who have been shorting all the way down have had their stops run over and over and over, giving back most of the gains.

bitvalak

sr. member

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Quote from: Bossian on December 05, 2019, 03:31:03 AM

Hello dear community,

Major move in action. 21 week holding strong resistance for now, but big trouble with the 50 week, we'll have to keep close attention as the candle closes on next Sunday.
Still the same bearish signals (death cross), and after the death cross we see the price fall dramatically.
We had a failed rally after the recent death cross just like around March-April 2018. Same thing happened very recently.

Picture below is March-April 2018 after the death cross:

To expect in the next following weeks: another rally (probably towards 9k) but it will be a failed rally obviously continuing the bear market trend when in about 5-6 months the BTC price is likely to go below 6k.

Sometimes I have bad news and sometimes I have good news. I am just telling how it is Kiss

There are two strong levels: 10k-ish and 6.4kish, one of these levels will break next year and will dictate BTC price for the whole 2020-2021 period. Be ready folks! Tongue

7k is a strong level according to my analysis, because it has repeatedly been at that level in 2018 ago. At the moment there is a consolidation for a long-term trend.
As far as I can see there are signs of a pinbar reversal in the 7k support area which could be going to the 8.5k - 9k level, if it happens before the turn of 2020 then the next level is the 7k price.
Now there should have started a rally before heading for January 2020.

Bossian

member

Activity: 450

Merit: 59

Quote from: NeuroticFish on December 05, 2019, 04:21:56 AM

Quote from: Bossian on December 05, 2019, 03:31:03 AM

To expect in the next following weeks: another rally (probably towards 9k) but it will be a failed rally obviously continuing the bear market trend when in about 5-6 months the BTC price is likely to go below 6k.

Sometimes I have bad news and sometimes I have good news. I am just telling how it is Kiss

A short 9k-ish rally is imho not a bad news (anymore). You know.. pump and dump and pump and dump.. makes speculators rich. And they're plenty now.
More on-topic: any expected time frame for that to happen? Is it still in 2019 or it's a larger - say max 2-3 months frame?

No, it is certainly a good news (hence the thumbs up in the topic title

)
I was looking at my charts and I see this bounce back to 9k area in about 1-3 months. Difficult to give a more precise time frame but it is likely to happen soon enough.
I withdrew my monthly salary today to my Bitcoin address and will wait for that specific price to cash it out.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

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Quote from: Bossian on December 05, 2019, 03:31:03 AM

To expect in the next following weeks: another rally (probably towards 9k) but it will be a failed rally obviously continuing the bear market trend when in about 5-6 months the BTC price is likely to go below 6k.

Sometimes I have bad news and sometimes I have good news. I am just telling how it is Kiss

A short 9k-ish rally is imho not a bad news (anymore). You know.. pump and dump and pump and dump.. makes speculators rich. And they're plenty now.
More on-topic: any expected time frame for that to happen? Is it still in 2019 or it's a larger - say max 2-3 months frame?

Bossian

member

Activity: 450

Merit: 59

Hello dear community,

Major move in action. 21 week holding strong resistance for now, but big trouble with the 50 week, we'll have to keep close attention as the candle closes on next Sunday.
Still the same bearish signals (death cross), and after the death cross we see the price fall dramatically.
We had a failed rally after the recent death cross just like around March-April 2018. Same thing happened very recently.

Picture below is March-April 2018 after the death cross:

To expect in the next following weeks: another rally (probably towards 9k) but it will be a failed rally obviously continuing the bear market trend when in about 5-6 months the BTC price is likely to go below 6k.

Sometimes I have bad news and sometimes I have good news. I am just telling how it is Kiss

There are two strong levels: 10k-ish and 6.4kish, one of these levels will break next year and will dictate BTC price for the whole 2020-2021 period. Be ready folks! Tongue

Topic: Major move: another (failed) rally expected (Read 163 times)