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RE: 1/31/2018 The Market View and Trading Outlook (actual info)

in #bitcoin6 years ago

I like how you touched the TA string, a lot of people think that TA is a exact science.We should also add that there are bots and people, who are stop-hunting. They know a lot of people are watching the same thing and they are ready to trigger some stops.

I think there is still too much hope around for us to have truly entered the capitulation phase where everyone throws in the towel and recovery can begin.

Not even close. We are very far from a true shake-off. I persoanlly have never seen a crash, or say traded a crash, but I am sure this is not it.
Most people are still sitting on mountains of gains, so they have no incetive to cash-out yet. Yesterday I wrote how when a trader/investor starts unloading all of his holdings in pain (emotional and financial) That is the time to load up !

As far as haejin's prediction, I stopped following him long ago. I bought a book on Eliott Waves though. The problem with TA with most people is
that they taylor the chart and lines in a way that they like it. On his chart I really don't see how the lines are OK. However, every TA has his own
methods and ideas.

My opinion is the same as yesteday. We are below all MA's, we are bellow previous support at 10,800 and pervious support at 10,300. Overnight we had an attempt at 9,800 - failed. Today we had ettempt to reclaim 10,300$ - FAiled. So much indecision nowadays in BTC, which makes it easy to confuse. Trends are rarely broken in a day or two.
I am short-term bearish on the crypto-market.

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Same here, short term bearish.. I was walking today with my daughter and I was thinking; what if BTC never comes back up? Why should it? What does it offer? What is its purpose? It's antiquated, expensive and other technologies are kicking its ass; so why keep it.. What if it just tails off into nothing as it really is of no practical use...

Lol, look at my last article :D If lightning netwrok does not come soon, it might not go up. Blockchain 3.0 are going to kick his ass. lol.

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