Let me just start this off by saying that I don't care what ANYONE thinks! My job is to analyze the charts, and do it to the best of my ability. So, assign any of the lame crypto terminology that you want to it. FUD, FOMO, whatever the _ you wanna call it. I really don't care. You know why? Because if you want to roll against me, in the long term, you're going to lose every single time. So go ahead! Question the head and shoulders all you want. Hold On for Dear Life all you want! That's a fool's strategy, and I can guarantee that eventually, you'll be Holding On for DEAR DEATH! You want the bear Magic back!?!? Well here I am, harder and more raw than you've ever seen me! So let me ask, why do you think Charlie Lee sold when he did?! He knows what's up, and so do I! You know too, in the back of all of your minds, that this is a rupturing bubble. Now raise up, and tell me that I'm wrong!
I gave this worthless market a chance on the upside. I've waited for the inverse head test to materialize, but it is now very evident that the larger pattern, THAT ENORMOUS HEAD AND SHOULDERS THAT'S STARING YOU IN THE FACE, is going to prevail. Technically, the inverse isn't invalid until the inverse head is surpassed, but that's only a matter of time. Obviously, it probably won't go down in a straight line. We may bounce from neckline, when the right shoulder completes. But you know what? The broad picture is epicly bearish. You can say that I flip flop all you want, you can say that I suck all you want, but I really don't GAF. I laugh all the way to the bank every day, because I'm a mega boss in this game. I've completely slayed this market, as a bear and a bull, and my charts have ALWAYS backed that up. You want to see how accurate my pattern identification is? I challenge anyone to go through the entire history of my charts and tally it up! You'll marvel at my greatness!
Now, I have a moral obligation to put out the realest, no BS content that I can. If you want to see a sugar coated fantasy analysis on this market, then go somewhere else. Because until technical EVIDENCE supports the fantasy, I would be a liar to sit here and tell you that it's all good. You think this market can't completely and indefinitely collapse? You're downright WRONG, an amateur, and extremely naive, if you think so. This market is massively speculative, filled with novice investors, way overvalued, filled with fraud, and possibly just a massive scheme. Nobody even knows who Satoshi Nakamoto is. Doesn't that strike you as concerning? Have you considered that you're possibly engaged in the largest Ponzi scheme in the history of man? What do you think would happen to this market if THAT came to light?
So, in the comment section, tell me what makes crypto valuable at all? Why do you even invest in it? Is it demand? Decentralization? Efficiency as a payment system? Pure speculation? I say it's probably the latter. Look, I will continue to analyze this market as it moves, but the overall prognosis is NOT GOOD. If we get a bounce, sure I will call for the upside, because up moves WILL occur, as the bears hammer the final nails in this god forsaken coffin!
On the downside, look for a test of that big fat nasty red head and shoulders neckline. If we get an initial bounce, so be it. No matter how you slice it, we're in an enormous head and shoulders pattern, in a huge downtrend channel, in a market that has a seriously questionable existence. Unfollow me if you want. I don't care. Find someone to lie to you, because it won't be me!
This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-Magic loves you-
-JD-
Kommentar
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A lot of amateurs are questioning this head and shoulders pattern. Well, allow me to teach you a lesson on symmetry. IT DOESN'T MATTER as much as you THINK it does. Just take a look at this head and shoulders formation in ADA. I was able to project a target off of it, which was subsequently REACHED, when practically no one else recognized the pattern. I could show you countless other examples of similar occurrences. For god's sake! Who's the professor here!? You or ME!?
Kommentar
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Let's get something straight. A lot of you people are saying that I was wrong about the inverse head and shoulders pattern, but YOU'RE the one's who are wrong. Patterns occasionally fail. That's a normal function of analyssis, and it's something that nobody can predict. But if I was wrong about it, then why was I able to call the right shoulder before it even formed!? Why was I able to see where the exact low for the right shoulder was going to be, before it even formed? Why Was I able to know that it would rally back to the neckline, before it even happened? The answer is because the pattern was perfect. It just failed to break out. So don't sit there, and tell me that I'm wrong about the inverse. I gave literally PERFECT calls off of that formation. That's all that matters.
It's not only about your H&S pattern man. Your TA history is not as accurate as you think it is. You might have made some "good" analysis before BUT, making predictions when the market is trending is easy.
Your previous TAs suck so much that I don't even believe you have money in this market. I think you are doing this just for fun and attention, which is fine. But please just don't drag people into the sh*t hole you are in.
MagicPoopCannon
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@vitruvius, Say what you want. I've called reversals all over this market, and my TA has generated millions of dollars. If you don't see the value in it, then go somewhere else.
Here's where I first put the PERFECT 105 taget on my LTC chart, when it was trading above 225.
Here's were I made the PERFECT call for LTC to rally to 225 after the bottom. It was trading at 139!!!
Here's where I called for the EXACT recent low around 137, in LTC, when it was trading at 189!
Here's where I made the literally PERFECT call on the right shoulder of the inverse in BTC!
Here's where ETH was trading well above 1000, and I called PERFECTLY for it to fall below 600!
Here's where i made an UNPRECEDENTED call for an inverse head and shoulders pattern in XRP, when the head didn't even complete yet!
Here's where I called the exact top in XLM:
Here's where I made an EPIC call for destruction in Cardano!
Here's where I called for XLM to fall to at least 0.40.
Here's where I called the head and shoulders pattern in XLM perfectly before it even formed.
Here's where I called a completely EPIC bear flag, just before a NASTY breakdown in ETH!
Here's where I gave an EPIC XLM bear flag call just below a horrendous breakdown.
Here's where I called perfect bear flags in LTC.
Here's where I gave a PERFECT inverse head and shoulders call and target, in LTC!
Now tell my my TA sucks.
tokeylokey66
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@vitruvius, exactly buddy. This guy .... is horrible. He really doesn't get it. People follow him because they are entertained at him being a clown. He's made a few decent calls, made a ton of bad ones too though which he does NOT admit to. The trend is obviously down, we have been rejected over and over again. NOW he has the balls to say it's because of his massive ugly broken looking H and S.
But he was so bullish just a week ago, he thought for certain his inverse was gonna break out when any newbie in the game could see it was a trap. He even made a chart saying it's still valid etc etc
Magic poopy, you know TA. More than a lot of us, from the books. You know the technical terms , what you do not know and frankly suck at. Is market sentiment and how gauging previous reactions to TA.
If there has been 8 bull traps in a row, and we have been down trending for months. Just because the chart draws a bull flag doesn't mean it'll explode upwards brainlet, hmmm maybe the chart is drawing that to trap noobs like you who think TA will work 100% of the time :p
Colinjo
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Oh great. Poop found another h&s which was already there for a few months. Change your name to magic-h&s-cannon. -without-breakouts. The guy who produces 4 ta’s a day to become the top analist. Reporting about crypto like a daily newsreader instead of forecasting. Im yawning through this childish ta. Claiming you are always right and stating your inverse h&s ta’s cant be called wrong? Admit it kid, it was wrong. We all told you it wasnt valid but you kept posting it still was. We’re going to moon VS we are all gonna die now. Those ‘analysis’ cant be right at the same time, so you can admit now which one is/was wrong. If you choose anwer B to be valid, then A becomes invalid. Logic. You cant claim both. Being wrong is normal. Things change. Dont be that kid. Your ego makes you blind, not nice and very irritating to follow. Which i wont do from now on. Bye.
Jack-FrancisScanlan
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@Colinjo, he made a call a month or so back with a 50% chance it was going to break into an upward trend and a 50% chance it was going to downtrend, it down trended and the next day he made this huge post about how he was right and how he told everyone that it was going to downtrend and that he was the greatest trader alive, this guy is weird!