If any of you reading this have been trading Bitcoin for longer than 2 years, most of you already know how much of a perfect head-game exchanges like to play with traders. 9 out of 10 times, they wave the obvious in front of you because they know that most traders trade with emotion, and not with patience.
They can get away with it, because this is the wild West of trading. Volatility at its "best"...
So in my previous ideas I've pretty much demonstrated to you that the measured move from 7200 to 10300 came in about perfectly with the 0.618 Fib-Time retracement zone. We get the move up to 10.3k, most people expect that 10.3k IS the retracement of the move down. Those that have utilized this Fib-Time tool recognize immediately that the retracement at 10300 was NOT the actual full retracement, because it didn't come anywhere near the minimum time-zone we would expect the full retracement to be at...
So we hit 10300, everyone thinks "This is it", people go long: 2 weeks later, most longs are liquidated or stopped out. It looks perfectly like retracement did happen, we are now in the trend continuation. Price looks extremely weak, looks like we're headed for a lower local low. And to most people, this would make total sense.
Here are the facts:
-Longs are super high... STILL... CME futures still have an abundantly high ratio of longs over shorts as well.
-With longs being so high, did we not think exchanges were going to come looking for stops before the full retracement? Did you really think they were going to pay out all those longs, just like that?
-We are currently at near 78.6% retracement of the move from 7200 to 10300... Shorting here is more suicidal than Jeffrey Epstein's death wasn't.
These exchanges are getting negligently obvious as far as exactly what they're wanting to do:
1) Stop out as many longs as possible.
2) Create a scenario where they can entice more and more people into a short position.
3) Screw the longs, screw the shorts - make a ton of money in the process.
If you're thinking of shorting here, do understand that you are shorting straight into heavy heavy resistance. Exchanges can manipulate, but when whales start feeding, there is only so much Tethers Finex can print or burn before they have no choice in the matter and the market does what it does.
Yes... Things look bleak, and they've painted a perfect picture of it. But practically ALL the technicals are calling their bluff.
Are they going to try longs' patience here? Absolutely. Guys, I've been long since about 8300. You don't think MY patience is wearing thin? BUT I don't trade on emotion.
WE ARE NOT GOING BELOW 7200... If they wan't to keep pushing the price lower here, I'll keep buying. But they won't stop me out of my long. This is the most perfect case and point of three major things:
1) Why you NEVER EVER trade on high margin.
2) Trade on patience, NOT emotion.
3) Technicals, technicals, technicals and technicals. We are WAAAAAY oversold on just about every technical indicator out there.
If you want to feed into their emotional games, just remember, they have a shiny ball in one hand and the next move in their other hand behind their backs. Welcome to trading Bitcoin...
They can get away with it, because this is the wild West of trading. Volatility at its "best"...
So in my previous ideas I've pretty much demonstrated to you that the measured move from 7200 to 10300 came in about perfectly with the 0.618 Fib-Time retracement zone. We get the move up to 10.3k, most people expect that 10.3k IS the retracement of the move down. Those that have utilized this Fib-Time tool recognize immediately that the retracement at 10300 was NOT the actual full retracement, because it didn't come anywhere near the minimum time-zone we would expect the full retracement to be at...
So we hit 10300, everyone thinks "This is it", people go long: 2 weeks later, most longs are liquidated or stopped out. It looks perfectly like retracement did happen, we are now in the trend continuation. Price looks extremely weak, looks like we're headed for a lower local low. And to most people, this would make total sense.
Here are the facts:
-Longs are super high... STILL... CME futures still have an abundantly high ratio of longs over shorts as well.
-With longs being so high, did we not think exchanges were going to come looking for stops before the full retracement? Did you really think they were going to pay out all those longs, just like that?
-We are currently at near 78.6% retracement of the move from 7200 to 10300... Shorting here is more suicidal than Jeffrey Epstein's death wasn't.
These exchanges are getting negligently obvious as far as exactly what they're wanting to do:
1) Stop out as many longs as possible.
2) Create a scenario where they can entice more and more people into a short position.
3) Screw the longs, screw the shorts - make a ton of money in the process.
If you're thinking of shorting here, do understand that you are shorting straight into heavy heavy resistance. Exchanges can manipulate, but when whales start feeding, there is only so much Tethers Finex can print or burn before they have no choice in the matter and the market does what it does.
Yes... Things look bleak, and they've painted a perfect picture of it. But practically ALL the technicals are calling their bluff.
Are they going to try longs' patience here? Absolutely. Guys, I've been long since about 8300. You don't think MY patience is wearing thin? BUT I don't trade on emotion.
WE ARE NOT GOING BELOW 7200... If they wan't to keep pushing the price lower here, I'll keep buying. But they won't stop me out of my long. This is the most perfect case and point of three major things:
1) Why you NEVER EVER trade on high margin.
2) Trade on patience, NOT emotion.
3) Technicals, technicals, technicals and technicals. We are WAAAAAY oversold on just about every technical indicator out there.
If you want to feed into their emotional games, just remember, they have a shiny ball in one hand and the next move in their other hand behind their backs. Welcome to trading Bitcoin...