The yellow graph represents shorts being liquidated. Exchanges are pumping as much as they have to in order to liquidate these shorts that would clean them out if left checked. They know a dump is coming soon so they have to push price up before of that drop can happen. This is not organic growth as we have broke though major resistance like a knife through butter. With Binance suspending withdrawals and FOMO increasing profits for these exchanges manipulating price it is a win win for them. There a bubble expanding and its on the verge of popping! shorts are dropping but they are still stacked, so while there is room to more further to the upside.. I suggest you all grab a parachute because when start to drop it will be a free fall!
I've never seen a graphic as clear as this one !! Thank you
snookerer
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Sorry for all the typos, was in hurry to put this up before i had to run out.
Don't be fooled into thinking this a bitcoin bull run!
The yellow graph represents shorts being liquidated. Exchanges are pumping as much as they have to in order to liquidate these shorts that would clean them out if left unchecked. They know a dump is coming soon so they have to push price up before they can let that drop happen. This is not organic growth as we have broke though major resistance like a knife through butter. With Binance suspending withdrawals and FOMO increasing profits for these exchanges manipulating price it is a win win for them. There a bubble expanding and its on the verge of popping! shorts are dropping but they are still stacked, so while there is room to move further to the upside.. I suggest you all grab a parachute because when we start to drop it will be a free fall!
Tivra
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Your chart needs more stuff in it.
snookerer
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@Tivra, funny how all that "stuff" showed exactly where we found resistance and started to retrace. but you're right and count on it! next chart will have so many fib it may just crash tradingview!
Nine_Five
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@snookerer, if i draw 100 diagonals and 100 horizontals in the 7k-9k region one of them is going to get it right. Ridiculous
snookerer
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If you all cannot see the power of these fib circles then you are not paying attention. If you want to learn more about setting these up and how to trade them just message me.
UnitedFreedomJapan
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@snookerer, coca-cola drops on table surface tells a better story about BTC future than fib circles :) It's 50% that BTC will go down, and 50% that BTC goes up.
jonasbrothers3000
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Don’t be fooled by someone who misspells the word “fooled”
snookerer
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@potatohead314, yeah auto correct chose the wrong word for me.. thank for the kind words though
snookerer
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lets think about this logically.. for price to drop without shorts starting to stack which would otherwise need to be liquidated. what is the only way for this to happen? once people think we are in bull run and feel it is safe to buy in while longs start stacking.. that's when we tank as people wont be expecting it. this means when you least expect it, CRASH! so while this is only my opinion what may happen.. its going up now so if you want to buy in go ahead. just make sure you have a stop loss set in case we start tanking. If you cant set a stop loss then you are taking a major risk. Yes i believe whole heartily that 2014 will play out all over again, while not verbatim, will still play out with 2 major drops, which one has already happened. And after this huge pump i think that drop will be one for the history books. But don't take my word for it. do what you think is best for you. and people are asking what will make me change my mind... If we do not have a massive capitulation when making contact with the purple ring (look at my other chart) then we are in a bull run and it is safe to enter.