A possible outcome
So we just barely painted two wicks in the 4h chart out of the purple falling wedge which contained the bearflag of the previous week. Following textbooks would suggest waiting for confirmation out of the wedge before we take any position in the market, so I asked myself if I were a humungus whale with bazillions of satoshis: what would yield the most profit while also scaring some possible buying pressure out?
The perfect play would be shorting the top of the wedge, wait for a cascade of bots painting red panic wicks and (probably) set a limit buy around a near bottom which proved a strong buy support and lands on the upper line of the wedge (notice the high buying volume around 6000€-$7300). That would result in a probable FOMO bounce towards 8000€-$9700 if it follows the highly speculative head and shoulders, and would yield around 10% in the short position of the whale if he manages a perfect dump from 6800€ to 6100€.
Watch out for possible bear/bull traps, as we haven't crossed any of the major resistances yet: those are labeled in the chart as Maginot Lines. Both lines also happen to converge around april the 14th, and if I took my notes correctly, april 15th is Tax Liquidation Day in USA; so that's quite a convenient convergence going on there.
-If we break out of the bear line early with the H&S I'm postulating, it might be the signal of the end of the correction and the 4-month bear market. Consider waiting for confirmation but watch out possible moon missions: if I ever learned something from last autumn is that you never now where's the ceiling of this asset, if the previous "bubbe" was big enough, and you can't just hope for retracements. I mean, there's 21 million coins for potentially 7 billion buyers so you can't blindfully hope for retracements: set stop-buys 1k PIPS above the actual level if you believe in the technology and the raw potential as an instantaneous decentralized world-wide trust token.
-If we fall down the well through the bull line, previous bottoms feel so low and ancient I don't even want to look at it and make me want to call my mommy for a real support lol. So don't short the market without a reasonable limit buy-in, you unlawful piece of whale! :D
Best of lucks trading this week, fellows!
The perfect play would be shorting the top of the wedge, wait for a cascade of bots painting red panic wicks and (probably) set a limit buy around a near bottom which proved a strong buy support and lands on the upper line of the wedge (notice the high buying volume around 6000€-$7300). That would result in a probable FOMO bounce towards 8000€-$9700 if it follows the highly speculative head and shoulders, and would yield around 10% in the short position of the whale if he manages a perfect dump from 6800€ to 6100€.
Watch out for possible bear/bull traps, as we haven't crossed any of the major resistances yet: those are labeled in the chart as Maginot Lines. Both lines also happen to converge around april the 14th, and if I took my notes correctly, april 15th is Tax Liquidation Day in USA; so that's quite a convenient convergence going on there.
-If we break out of the bear line early with the H&S I'm postulating, it might be the signal of the end of the correction and the 4-month bear market. Consider waiting for confirmation but watch out possible moon missions: if I ever learned something from last autumn is that you never now where's the ceiling of this asset, if the previous "bubbe" was big enough, and you can't just hope for retracements. I mean, there's 21 million coins for potentially 7 billion buyers so you can't blindfully hope for retracements: set stop-buys 1k PIPS above the actual level if you believe in the technology and the raw potential as an instantaneous decentralized world-wide trust token.
-If we fall down the well through the bull line, previous bottoms feel so low and ancient I don't even want to look at it and make me want to call my mommy for a real support lol. So don't short the market without a reasonable limit buy-in, you unlawful piece of whale! :D
Best of lucks trading this week, fellows!
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