THE END OF BITCOIN? - The Truth revealed about the FUD and FOMO
Hello Lads and Ladies,
We are going to cover here the WHOLE BTCUSD TA, understandable for ANYONE. Starting from the fundamentals, ending with what happened and why things happened that happened. Read it once and you will know and understand everything - loose any panic and have a beautiful day.
Today I have been remembered why I am doing this and why I started posting my TA publicly!!! It is very simple. I am sick and tired of people doing CRAPPY TA and FOOLING people who do not have enough time to do their own TA - spreading FUD and complete NONSENSE.
HERE you see the TA the "top authors" should be doing. I got so angry when I saw so many people calling 4k or 4887.8.. If you look at the YELLOW LINE in the left of the chart. This short line from August to October last year is now the new indicator for the 4k BTCUSD price. How many time after that did it get confirmed? NONE.
So here to this chart and I am going to do step by step so EVERYONE understands it and I will do everything in my power that EVERYBODY is going to see this.
Starting with the bottom blue support line. If you look even more left, this was the very healthy and steady increase of BTCUSD got confirmed many many times so I will never move or delete it again from my BTCUSD chart. Looking at the chart right now, this is a crucial point where we can confirm it again and basically already did.
Now, take a look at the dotted blue line, this was the resistance from waaaay back, which also got confirmed many times ( 25.05/12.06/02.09/13.10/23.10/29.10/13.11/06.02/10.03/23.03/24.04/05.05), check it!! Quiz question.. The next breakout will have a strong deciding point where? AT EXACTLY THIS LINE!!
The next one is the second blue line, above the first blue line. It has been playing a crucial support since September. Confirmed at (02.09/13.10/23.10/13.11/06.02/almost 03.04/ right now). This is a line that we will see in a year as the last possible retracement, since it is also increasing, not as much as the dotted line though.
Now the red lines, the very bottom dotted red line is the super worst case scenario world war 3 breakout support line, AT $3000 NOT $4000!!! If you set the bottom, do it right, not as you wish. The bottom straight red line is the bottom of a channel that we MIGHT come down to, this is the absolute most we will see this pullback happening and I am saying it ONLY as a 5% chance seeing a daily spike drop down there line we saw on February 6th. The red dotted line above was the daily support of the last months but was not very healthy for the chart as we will cover soon. The red straight line above the dotted is constantly turning support and resistance line at $8000, the big pump started here (24.11), afterwards the big scale double bottom happened at $8000 (12.02 - 18.03), getting broken down straight (26.03) and following back up in a straight line to it again (12.04).
The big yellow line from the very top is the ONLY right resistance line that you can use from the very top. Not very top confirmation and then last week.. That is simply wrong. The thin yellow line is its support line during the downtrend, but actually pretty insignificant.
So, what happened to BTCUSD???
We were in such a nice and healthy channel between the bottom blue and the dotted blue line. This is the channel that had a healthy increase and everything was very positive. Then on October 28th we left this channel, said hello to $8000 and came back pretty quick. Since this was the time the news were very positive and people were talking about the BTC Futures, we started a VERY HUGE BULLRUN, all the way to $20.000 this was literally an insanity and the whole market completely overheated. The range between the very top and the dotted blue line was at that time $13.000! Of course a pullback had to happen and all the FUD and shitstorms and all the negativity brought us back to the $5975 within 2 months.
This was a very healthy pullback that had even room until $4500. From there we saw a bounce back up and but the strong downtrend resistance was too heavy and BTCUSD failed to break it TWICE. This disappointment, connected with all of the MT.Gox nonsense brought it back from $11500 to $8000 where (18.03 - 22-03) it had a VERY IMPORTANT decision point, where it had to break through only one point, as the blue dotted line and the yellow resistance lines crossed, but unfortunately we did not have enough volume and positive news for it to happen.
From that point on the chart hugged the resistance and came back to a VERY toxic point - the $6800 line also the red dotted line in the chart. it broke the resistance because the time frame was not fitting anymore and did not retrace enough. Then, it moved sideways for a week trying to decide what to do, since it did not brake the $6800 line, people thought that this was the bottom and started FOMO-ing into it again, pumping it all the way to $8000 and then towards the $10.000 but already since the very beginning this was DOOMED.
You have to come back to support line that is significant and not just take off out of nowhere. It happened anyway because many many people were really ready to see a bull run again, almost desperately. After this short euphoria, we have just tested the very strong and healthy blue line again, beautiful movement and a very healthy retracement. From here on, we have everything fundamental set for the next big scale HEALTHY bullrun, where the blue dotted resistance becomes a support and we see a steady increase.
The news for this are set too and a steady increase of BTC will also bring beautiful times for alt coins with it.
This is the TRUTH behind all of the pullbacks and supports as well resistances. Remember how much trash was out there? Now, you know it better and can check it for your self and also explain it to others. Please don't buy into that nonsense such as price manipulation or some few bucks sold off the MT.Gox .. this has absolutely NOTHING to do with the chart or price, this is ONLY EMOTIONAL. Stay RATIONAL and help others to understand the situation.
I normally don't do it but this time I would really appreciate it, if you shared this analysis and helped me to reach as many people as possible with it. This is very important to understand and helps people to stop being fooled.
Make sure to check it out on Tradingview - https://www.tradingview.com/u/jegerche/
Instagram - https://www.instagram.com/bitcoin25.de/
Twitter - https://twitter.com/mreucho/
me and you will find this page interesting because I am a TA expert and day trader that does daily updates and new posts about the hottest and most discussed coins.
Cheers, Tomas
polease be mroe than just a haejin
no one wants to look at another person acting like they have ANY idea where the markets gonna do
ur posts are useless man post about ur life or developments in tech or somethin
u seem to be posting automated crap that u think is popular here cuz u see haejin getting on trending with it, when in reality he only gets theer because hes getting the upvotes first, trending secoinbd. hes not trending hes just being puton trenbding by a stake owner of steem which is great but dont let it fool u into thiunking thats the sort of shit we all wanna see just cuz its on the frnt page every day
please man do everyone and urself a favor and dont post more TA its pointless nonesense boring crap
anyoen can make a posta bout the directoion of a fuckin coin
how about make a article about STEEM and some STEEM technology or about Bitcoin technology or crypto traders and talk about them dont just p[retend to be one nman
whatever dfo what u want
im hjust giving u an example of what people think of your shit posts :D
PS if you spam my Blog or anyone elses with anothercopy pasted message , if i catch that mesaeg on ANYONES blog i swear you will get;asty 7 days of ur posts flagged! dont EVER post ur TA spam shitposts on my blog again! i swear to god man i do NOT like people who make shit posts like this, why cant you try harder and create something unique and fun to read?
why do you think ANYONE wantys to fuciing read some fucking boring self apparent crap about teh price of bitcoin over the last few months, like wht the FUCK we can all read the graphs too we fdont need narration
look sorry but haejin does these posts and i feel liek jusrt saw thata nd thought to yourself u could also make it big with your own Technical Analaysis (TA) posts
ifd much rather you do the OTHER sort of TA Tits and Ass find BVitcoin Girls and models over craigslit hiore some girls $10 an hour to just stand there behind u n videos in bikinis holding Bitcoin Signs whgile u discuss crypto! that would be SO much better man!
hahaha, man thank you for your time and for making me smile :D Of course I know that this can get boring and annoying to read :D But I make these posts because this is what I do every day for my own work as a day trader. I have a few communities that are interested in exactly this type of articles and analysis. They actually read this, understand it and love it because I make it very easy but also very accurate.
You can almost call it a religion that you believe to know what happens if you look at the charts.. For anyone who is not into trading and I mean serious day trading, I will bet you my money that they will not read that haha I also started doing these posts because there are AS YOU ALSO SAID sooooooo many people making bull*hit TA and people are loosing money because of it, since I quit all my jobs and am only day trading, my strategies and analysis work very well and so I want to help other people to understand it too and for them to be able to do the same stuff that I do! Because what is there better than just sit infant of a PC all day make a living out of it, WITHOUT scamming people :D And no worries, you will not see me again and you will definitely NOT get flagged or anything!!! I love this type of comments and I really and I mean that serious, find it very, very good when people take their time to make a steady and well argumented statement.. because there are every day more and more people that are like, "oh this is shit" and don't say anything else to it. I support discussions on a high level and like it when people argument well.
PS I will start building my community with this and as soon as I see potential to make ad a different form of posts I will definitely do it! @ackza
ok well i was suprised you were even responding
i just dont want you reposting the same copy paste message about your new article on multiple posts like i caught you doing ok? its not good, you should just pay for a Bid Bot if you want to promote your post and get it seen, you can pay for upvotes by sending sbd and link in memo to @booster or pick a cheaper bot https://steembottracker.com
Of course I am responding! we are not in kindergarden anymore :D
Absolutely no problem, Sir. I myself already looked into bits, but I want to find a serious and good one, so my temporary answer was to use this method and then the bot :) I am looking for a bot with a fix rate, without bidding, do you have any in mind that are good?