The bad BTC scenario
So this is my full bear view for the next couple months, this is if we are going through an ABC correction with a 1:1 extension of wave A.
We have retraced back up to the .78 Fibbonaci level and running out of steam with wyckoff theory of distribution on the 4hr candles.
there is every chance this is could be the first wave of of an impulse wave, so when it comes to trading i will be putting in orders as described. as we may not go lower than the previous low in March 2020 i will have most of my position at the .78 fib level, with smaller orders at .61 and .5 leaving some left over for the full bear realization.
This can change due to halving and with large volume but i dont let emotions get in the way of analysis, of course this can go higher, I believe in BTC.
Using the Wyckoff theory method if there is a major UTAD before the reversal, we could go as high as 12k before the drop, most likely will happen around the point of the halving with all of the FOMO buying from new money. Then once the new money is in, the Market Makers push the price down and all the inexperienced traders sell and are scared for life from bitcoin as the market then winds up to new highs and the rich get richer.
don't believe you are ever in control of the Market. Just because of the halving, the bottom may not be in yet!
if you think it will go up, it will go down... if you think it will go down, it will go up... if you pretend it will go down in order for it to go up then it knows and the whole world burns.
Lets get wrecked together :D
We have retraced back up to the .78 Fibbonaci level and running out of steam with wyckoff theory of distribution on the 4hr candles.
there is every chance this is could be the first wave of of an impulse wave, so when it comes to trading i will be putting in orders as described. as we may not go lower than the previous low in March 2020 i will have most of my position at the .78 fib level, with smaller orders at .61 and .5 leaving some left over for the full bear realization.
This can change due to halving and with large volume but i dont let emotions get in the way of analysis, of course this can go higher, I believe in BTC.
Using the Wyckoff theory method if there is a major UTAD before the reversal, we could go as high as 12k before the drop, most likely will happen around the point of the halving with all of the FOMO buying from new money. Then once the new money is in, the Market Makers push the price down and all the inexperienced traders sell and are scared for life from bitcoin as the market then winds up to new highs and the rich get richer.
don't believe you are ever in control of the Market. Just because of the halving, the bottom may not be in yet!
if you think it will go up, it will go down... if you think it will go down, it will go up... if you pretend it will go down in order for it to go up then it knows and the whole world burns.
Lets get wrecked together :D
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