BTCUSD inverted H&S / 8k is the bottom

Just to reiterate what I pointed out in my previous post: 8k is the bottom!

Here's a list of reasons

Trading:

• The "resistance" comes only from spoofing on GDAX.
  
• Most executed orders area buy orders.
  
• Whales that have sold at the top need to get back in to profit some more.
  
• Nobody benefits from "zero-dollar bitcoin", perhaps with the exception of "investment gurus" who want to sell you books.
  
• Sensational posts immediately get 10k+ views & all comments are flattering. Same on Reddit. When small investors are the most afraid, the market has reached the bottom.
  

Trend:

• At the beginning of a market cycle, the sentiment is still bearish & news still negative. The market always work like this.
  
• Man makes news. What news is made & which part of it is emphasized depend on the market (or market makers / moneyed-interests).
  
• Cryptocurrency will surely have a bright future. To think that world leaders would resist it is foolish, like Louis XVI foolish. Power comes from riding the tide of history (like Napoleon) but resisting it.
  

TA:

• We have not & IMO will not breach the long-term trend line.
  
• We have not & IMO will not breach 200D SMA.
  
• We have corrected equal % since breaching the neckline of the H&S as from ATH to neckline (see chart).
  
• We have fallen equal % since falling out of the bear pennant (see chart).
  
• That there's a second time we touch 8k (go briefly below) is natural (and mentioned in my previous post: see Related Ideas).
  

8k is the bottom.

Kommentar:

Forgot to mention:

Tether being a "scam" is FUD. That exchanges hold a couple of billions in cash is pretty normal.

Bitfinex being a "scam" is FUD. My problem with it is that there are too many bots trading there. Their trading engine is great. Their service needs improvement but not the worst of all.

Kommentar:

Isn't it amazing all the "big short" experts come out after bitcoin already fell 60%?

Even suppose it goes to 0 (because no matter what their charts tell them, it's not going to be negative)...

Kommentar:

At this point, news from tomorrow MUST before bullish.

Otherwise, we can sell everything & come back next year.

Kommentar:

Very low volume, no bounce.

However, since we just breached the long-term trend line, & I'm personally in despair, I think there's a chance we're already in the "DESPAIR" phase of the bubble blowout.

Kommentar:

All I'm hoping is that the whales haven't overplayed their hand, that they haven't lost control.

Because as long as they're still in control, price will bounce at some point.

If they've lost control & small investors are so fearful, it's going to be a crypto depression.

Kommentar:

About China's ban on crypto:

I just did a quick search in Chinese. Why can't I find anything about China banning access to exchanges? All I found is that an official saying blockchain is the future?

Fuck the fake news media. They think people outside China don't know Chinese so they make up all the fake news about China. This is why every time it's "China" that bans crypto. They can't say US bans it because everyone reads English.

Kommentar:

Was thinking the "F" would turn into a red heart as it does in chat :)

Kommentar:

Hope we go at least to 9300. Then we could have an inverted H&S