Bitcoin Shorts Increase Per Cradle Reversal Pattern

29 mars 2024

On March 27 I went on a kindred spirit's idea titled:
12 Things That Suggest BTC is a Speculative Bubble

I posted this comment:
"I don't want to impose. Therefore I'll ask the author for a posted chart since the the March 14 high on BTCUSD Shorts. Thanks
On the current hourly chart it looks like a cradle. Someone is rock'n the cradle! YEAH!
Notice how low the volatility was, aka a Bollinger band squeeze since the low on March 25 approx 13:00 EST until today approx 09:00 EST. Then notice what occurred next. BOOM, short positions exploded upwards!"

Earlier today I posted it and it appears to have disappeared. Therefore I decided to post it here.

As this chart indicates per my markings since bitcoin's peak on the March 14 2024, I believe a cradle reversal pattern has formed at the low of wave 2 or B(pink circle).
I decided to post it based on the 4 hour time frame.

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Interesting article:
Quote:
Jim Cramer Issues Urgent Market Warning as Bitcoin Plunges

Stock picker and CNBC commentator Jim Cramer has warned that the market is currently "the most overbought" it has been in a while.

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Hmmm how does that rule go? Oh yes, KISS. Speaking of which, take a look at a simple indicator called the MACD on the bitcoin daily chart. Notice the kiss?
Gotta luv it! Simple, sweet, and effective!
In my humble opinion!
It's our Easter weekend gift and presented with a bow on "April fool's the bulls",lol!
All The Best!

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Transaction en cours

Thought this song would be fitting since the original idea was about a "cradle pattern" that suggested that a reversal was in the works along with a potential up coming surge in shorts. And of course it played out and therefore,

CCR - Cotton Fields, Yeee hawwww!!!
In my humble opinion

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I found this article interesting enough to share with you due to the fact that the chart indicated what was likely to become news. Indeed this appears to have occurred:
In my humble opinion..........

Bitcoin Price Dumped To 66K As Bears Gain Strength, 64K Next?
Apr 1, 202423:02 EDT

Yeeeeeeeee Haaaaaaaaaaa!

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All this talk about institutions running to buy bitcoin & Intrinsic value. Let's see what Goldman Sachs has to say:

Apr 2, 2024
Quote:
Goldman Sachs Clients Not Interested in Crypto, Says Chief Investment Officer: WSJ

Even after the recent surge in prices and involvement from other TradFi giants, the bank maintains its belief that crypto is worthless.
Goldman Sachs stands firm on its belief that cryptocurrencies have no value.
The chief investment officer of the banks Wealth Management unit, Sharmin Mossavar-Rahmani, says clients have not voiced interest in exposure to the asset class, even after the latest surge in prices.

Goldman Sachs, nowadays one of the few Wall Street banks to do so, isn’t backing away from its negative stance against crypto, as it doesn’t see any value in the asset.
Sharmin Mossavar-Rahmani, chief investment officer of the bank's Wealth Management unit, has long been known for her skepticism of bitcoin and other digital assets, and her opinion hasn’t changed, according to a recent interview.
“We do not think it is an investment asset class,” she told the Wall Street Journal, “We’re not believers in crypto.”

Even after TradFi competitors such as BlackRock and Fidelity earlier this year decided to double down on their efforts in the crypto industry after clients expressed their interest in getting exposure specifically to bitcoin, Goldman’s clients want nothing to do with it, according to Mossavar-Rahmani.
One of the reasons she sees no value in the asset is because it’s not possible to really evaluate its worth. “If you cannot assign a value, then how can you be bullish or bearish?” she said.
She even criticized the industry for being hypocritical, saying that crypto enthusiasts “all proclaim democratization of finance, yet the main decisions end up being driven by a few controlling people.”
end quote.

BRAVO Sharmin & GS!
In my humble opinion...........

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