During last 7 months i have short all your euphoria ( cf all my previous charts).
Guess what happened now ?
I'M BUYING YOUR FEAR.
Yes guys, i'm back in the game (in fact i'm half-back you should never be over exposed to the market). I have closed my shorts positions. And i'm buying your cheap BTC . I have already started to accumulate LTC since we are not able (or just marginally) to make new low under 49$.
What happened since my last call 3 months ago ? NOTHING and that's what looks goooood. We have try to break the and be reject pretty easily at 5750 (the exact target of my precedent chart "TAKE CARE OF WYCKOFF").
Uneducated and leveraged speculator are over shorted a support which is not break : https://s3.amazonaws.com/tradingview/sna...
That's good for the bulls.
Now how works the psychology behind a CRASH market ?
Wave 1 : After a parabolic rise and an ultimate FOMO. The bears manage to break the and send a clear signal : BULL SEASON IS OVER. This is a very hard wave to predict and the more vertical one. All the weak-hands and the people who buy too much on EUPHORIA phase are NOW DEAD. You are alive ? Nice you got to the next level.
Wave 2 : Every investors and professional traders know this wave is coming. They wait this one to exit the rest of their position. New investors and moonboys are FOMOing again and reinforce their position ! Despite the enormous they can't see this is a new market ! THEY ARE BUYING THE DIP !! Result ? BULLTRAP. You have reinforce your long position ? You have use some leverage ? CONGRATS YOU'RE DEAD.
Wave 3 : This is the mothers of the waves, the one that will break all your supports ! All your patterns are invalidated, you BUYS the supports ? You are DEAD, wave 3 destroyed them. All people who have bought BTC over 10K are dead or are bag holders. In this wave the BEARS are in full control of the market. you have FEAR and brutal Capitulation.
Wave 4 : This one is a tinny bitch, she gives you some hope. "OK GUYS THAT WAS ABC correction WE ARE FINE", few traders and investors who are not dead yet (trust me they are few, less than 40% for sure) get momentum euphoria ! "WOAW LOOK AT THE THIS REVERSAL". Everyone jump in (including all the guys who have sold at 12k then buy the bull trap and then sold at 8k). Just before you break the RESISTANCE. Market tell you "NO". The fear is real, the sell-off quick again, price lose 1K in 1h. It's already too late for you : YOU ARE DEAD.
Wave 5 : Oh man, wave 5. This one is the worst one, his nickname ? Despair. Why ? Because all the Smart money and most of the professional have now let you alone. You are ALONE in the DARKNESS. You see others littles fish without light which are trying some actions. In the depths they have no more whales, no more sharks, they have YOU a ridiculous little fish and there are some strange algae (algo bots). Their goal is to STRANGLE you. MOONBOYS and Amators are already all dead. This wave is sicking real investor blood. How much traders you followed have been wrong during this wave trying to find the bottom ! Just tell me. At this time the market is rejected on every resistance. YOU CANT PASS a single resistance now, all the pumps are faster and faster, lower and lower. The is dying, the investors begin to think BTC is just dead. No , no : nothing. You buy every FOMO ? YOU ARE DEAD. Speculator are leaving the market after they lost all their money, investors begin to sell to buy GOLD , SPX and some real assets. Life goes on... but not BTC . BUT this wave don't want to break only the holders. This wave killed all the shorters and sellers too. You can't make new high, you can't make new low. Fake breakout and breakdown are everywhere. YOU ARE LOST. But i have a BIG NEWS for YOU. If despite all this you are still ALIVE (and i mean have not loss +30% of your capital) Congratulations POP CHAMPAGNE to this, it's your moment so enjoy it. You are one of the 5% who will eventually win money on this market.
Wave 1 and 2 : Smart money and professional traders need time to accumulate. So they take it. They buy your fear. IM BUYING YOUR FEAR. "This rally suck", yes but bears can't establish new low. You have to be creative to find a technical support at this time. This is maybe the best opportunity wave in a LIFE TIME.
So guys after this little story, i have decided to give you some of my real work. I hope you will enjoy and BLOW UP the likes. I'm doing this shit one time. I'll not do it everyday.
First THIS IS THE CHART YOU HAVE TO LOOK :
The crash begging with the entry of the so let's talk about it ! You can see the nice and massive triangle which is only as beautiful on this chart. You can see the begin to spike again near the Apex. And the shows real strength. The weekly on this chart is making a massive .
And now some Master Piece. This is my personal indicators. I give it you for FREE :
This is the TOTAL MARKET CAP which shows you a MONSTER WEEKLY BULLFLAG ready to BREAKOUT (these 70% of time). We are speaking about all the Crypto world ready to explode.
EVERYONE is comparing BTC 2014 to BTC 2018.
IM LOOKING AT THE ENTIRE CRYPTO WORLD.
5% spread ? Guys that might be THE END.
AS always a CRASH is a very hard market to predict. It can take waaaaayy more time than on my graph but i trully believe the crash is end OR the 2018 crash will begin to be very very dirty because all the crypto world have already retrace as much as the 2014 CRASH. You have seen i have made a LOT of money selling your FOMO last 6 months so i can risk this trade. My stop loss is under 5700$ under 46$ for LTC in case i am wrong. This is my personal trading, not an assertion or and advice to BUY or SELL.
I wish you all the best. Please if you enjoy this update, show me your support : LIKE, SHARE and COMMENT.
SUMMER is COMING.
Here is the last chance to the market to remain bullish: https://s3.amazonaws.com/tradingview/sna...
If we can reintegrate the support area (around 5650) before the weekly close (with the current support of the 175 WMA which has prevented the free fall) we should be OK.
However, if the bears managed to break the WMA and provide a new weekly low the next week, then I'm sorry to say you that as in my first thought the Cryptocurrency market is going to have a historically crash.
Have a nice week-end everyone !
My targets are still the same than 4 months ago