bitcoin getting ready to crash again , charts very bearish

Bitcoin getting ready to dump again to $25k soon, and then back to old support of $15k probably by end of the year or early next year. The sloppiness and lack of compression and lack of smoothness in the chart portends to major downside like last time when it was at $29k:

You can see how the pattern is playing out again in the right-most purple box. Also, the Blackrock spot Bitcoin ETF will likely be rejected, and regulation will keep getting worse. Or in other words, the SEC holds crypto by the balls.

The same people who praise crypto an alternative to the financial system, are more than happy at the promise of the financial system adopting crypto, which a decade later is still unfilled and likely never will be. It’s all about making the price go up. These late comers are investing their paychecks, mortgaging their homes, maxing out credit cards to buy crypto…of course they need the price to go up. I’m like, ‘there are easier and less risky ways to make better money, such as rental properties, tech stocks, etc. You are at least five years too late to the crypto game.’

And zooming in, topping out again:

And zooming in some more, the similarities between April 2023 when it peaked at $30k and today are uncanny. It bobs around for about a week and then the floor falls out:


Over the past week:

The usual response is “technical analysis is just voodoo…does not work”. I love it when people say that, cuz I know I will be making money off those people by using technical analysis. It all depends. It works in some circumstances; it does not in others.

Also, by having one of the highest IQs in the world I am able to find patterns that no one else sees. Most people fail at technical analysis because they rely on obvious patterns that are saturated and useless. If something is obvious it means that everyone else is expecting it to happen too, which makes it less likely to happen (or else it would have already happened).

In invoking the EMH, the present price reflects all known information. So something being obvious or widely expected to happen, means it’s priced in. If I have insider info that a hedge fund is going to dump bitcoin tomorrow morning, then this cannot be reflected in the present price because it’s not publicly available information.

Likewise, the compression and smoothness method I describe is 100 percent unique to me, so it cannot be reflected in the current price, so it’s like having legal insider info which gives me a big advantage. The failure of other people’s technical analysis does not mean it does not work, but they are drawing the wrong or obvious inferences.

1 comment

  1. Actually been rallying on schedule about a week after FTX et Al rally began double so far now the biggest players entering the game after likely pushing it down first. China Russia also reconsidered third world it’s becoming the peoples money it’s only going to take a bit more lightening work to make it explode as money in addition to store wealth.

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