How to turn this into a real distribution range?
I've been mocking with the idea of this being Bitcoin's distribution range in the last 2 weeks. Luckily Bitcoin rallied since then.
I was actually describing how to create a real macro distribution range. Now this is a more educated guess on how the chart might look like in a few months.
But remember, you change your bias and trade accordingly *after* you see HTF setups. You don't trade based on assumptions.
And if this is the case, think about rotations we might see from now on. Bitcoin might be in a macro distribution range and this is bullish for alts.
I was actually describing how to create a real macro distribution range. Now this is a more educated guess on how the chart might look like in a few months.
But remember, you change your bias and trade accordingly *after* you see HTF setups. You don't trade based on assumptions.
And if this is the case, think about rotations we might see from now on. Bitcoin might be in a macro distribution range and this is bullish for alts.
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If this wasn't clear enough, let me rephrase. Being bearish on Bitcoin is still WRONG. Wait until macro chart looks like shit. For now we had the first significant macro weakness and market rallied to previous highs. The story begins now.
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Real bullish possibility here is this imo. This would definitely go to ATH.
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If you like Mr. Bollinger i think you'd say 50k+ is more likely from here. And that imo serves the bearish case. Probably.
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For now like I pointed out some of them before, this range has some features of reaccumulation. A test to 42-44k can give people betting on this more confidence.
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Like me :D I have a small position on BTC but more in alts. Because in any case betting on good looking alts is the high iq play at this stage. Macro distribution bullish for alts. Reaccumulation bullish for alts.
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Imagine you have a wick like this later this week. I'd be like holy shit.
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Other option to prove it's reaccumulation is making 52k a support imo.
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Btw I've been talking about reaccumulation and saying people to buy with confidence at 39k while their perma bull gurus targeting much lower levels. So perma bulls can gfts.
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In fact, I'm specifically trying to keep them away :D Bitcoin is eventually going to zero. FYI.
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Corn is strong. Don't touch it bearss.
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Not my problem if you didn't listen. I said WRONG with capital letters. I don't do this often.
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This is like definition of ugly.
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No change in plan. One step closer to distribution idea. Sold BTC. Holding alts. Shorts later.
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BTC glitching hard lol. A fast move to 44-45k is still buyable btw for short-term trade.
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Hypothetically.
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Another view is this ofc. Always an ugly and hard to trade pattern. That's why you need to wait if you wanna short.
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If you are wondering what this is, this is nothing btw. This is "Get away from your screen, idiot. You keep shorting/longin 100x."
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All those calling for lower at 39k are calling for higher now. Misalignment is real.
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Meaning Bitcoin fucked everyone's senses soo hard.