Wyckoff's Distribution Schematic #1: Events & Phases
Diupdate
Hi Guys.
Please do not think we are bullish; I have seen the recent scenarios far too many times, and I am here to alarm you that what you are witnessing is a huge bull trap. I am here for the sole purpose to spread my ideas and ensure you are appropriately set-up for what is to come. What we have been witnessing is not organic. Recent events was a short-squeeze, in order to reduce the number of shorters who will take profit once we reach new lows. This is a technique utilised by manipulators to reduce liquidity and thus reducing the difficulty to move the price.
I am a strong believer that there is nothing to be bullish about Bitcoin in the immediate short-term. Long-term of course, but for now, with COVID-19 causing havoc to the world, unemployment rates increasing, personal debt at an all time high, there is simply little to no demand for Bitcoin. The recent surges have been complete manipulation by the big players, and those who have been engaging with me recently are all aligned.
Before I begin, this analysis is based off of Richard Wyckoff, (1873-1934) who is considered one of the five "titans" of technical analysis . Along with Dow, Gann , Elliott & Merrill. (Research all of these if you haven't already!).
Wyckoff Events & Phases are very powerful when utilised correctly, for example, here is an idea of the opposite 'Accumulation Schematic' analysis by myself.
Now, let me explain why I am bearish in the immediate short-term.
1) Yesterday we saw the USA's unemployment report in which 6.6 million citizens have now filed for unemployment - this is only going to increase in the immediate short-term. To put this into perspective, the week before it was 3.2m, and before that it was 400k. This is clearly highlighting the depression of what is to come. It is possible in the next few weeks the USA will be at 30 million unemployed which equates to 10% of it's population.
2) Mining Firm War: This is very much the same concept we are witnessing today with regards to the oil price war. The 'big dogs' drive down the price until it is unprofitable to mine, with the sole purpose to collapse smaller mining firms. This occurs ever halving cycle; with the sole intention to increase market share, accumulating more Bitcoin in the long-run.
3) We have topped out: If we observe Bitcoin on a low-time frame we can already see a lower-high is being produced as Bitcoin struggles to surpass 7k. A big resistance, technically and psychologically, it is a difficult barrier to surpass. I am expecting a clean sweep of the lows in due-course. Many of the other top traders I liaise with are very much aligned with my thoughts.
Collating all of my reasons, coinciding with the fact Bitcoin is very much over-stretched right now, I am very much positive that we will seek the lows. Now to answer this scenario...
How can you prepare for what is to come?
If I was to tell you, the possibility to purchase Bitcoin at 3.2k each about 3 months ago, you would of taken this opportunity. In a few weeks we will see this opportunity again, so make sure you are prepared to 'buy the dip'. As Warren Buffet says "Be fearful when others are fearless, and be fearless when others are fearful." Therefore like me, I hope some of you have cash on the side to take advantage of what is to come :)
I hope this wasn't too long guys! If you found any of it useful, drop a comment or pop a like and I will be most grateful! I hope you can see I am pouring my passion & love for trading into this for you guys, so any support is much appreciated.
Yours Sincerely,
Anon. Scholar
Please do not think we are bullish; I have seen the recent scenarios far too many times, and I am here to alarm you that what you are witnessing is a huge bull trap. I am here for the sole purpose to spread my ideas and ensure you are appropriately set-up for what is to come. What we have been witnessing is not organic. Recent events was a short-squeeze, in order to reduce the number of shorters who will take profit once we reach new lows. This is a technique utilised by manipulators to reduce liquidity and thus reducing the difficulty to move the price.
I am a strong believer that there is nothing to be bullish about Bitcoin in the immediate short-term. Long-term of course, but for now, with COVID-19 causing havoc to the world, unemployment rates increasing, personal debt at an all time high, there is simply little to no demand for Bitcoin. The recent surges have been complete manipulation by the big players, and those who have been engaging with me recently are all aligned.
Before I begin, this analysis is based off of Richard Wyckoff, (1873-1934) who is considered one of the five "titans" of technical analysis . Along with Dow, Gann , Elliott & Merrill. (Research all of these if you haven't already!).
Wyckoff Events & Phases are very powerful when utilised correctly, for example, here is an idea of the opposite 'Accumulation Schematic' analysis by myself.
Now, let me explain why I am bearish in the immediate short-term.
1) Yesterday we saw the USA's unemployment report in which 6.6 million citizens have now filed for unemployment - this is only going to increase in the immediate short-term. To put this into perspective, the week before it was 3.2m, and before that it was 400k. This is clearly highlighting the depression of what is to come. It is possible in the next few weeks the USA will be at 30 million unemployed which equates to 10% of it's population.
2) Mining Firm War: This is very much the same concept we are witnessing today with regards to the oil price war. The 'big dogs' drive down the price until it is unprofitable to mine, with the sole purpose to collapse smaller mining firms. This occurs ever halving cycle; with the sole intention to increase market share, accumulating more Bitcoin in the long-run.
3) We have topped out: If we observe Bitcoin on a low-time frame we can already see a lower-high is being produced as Bitcoin struggles to surpass 7k. A big resistance, technically and psychologically, it is a difficult barrier to surpass. I am expecting a clean sweep of the lows in due-course. Many of the other top traders I liaise with are very much aligned with my thoughts.
Collating all of my reasons, coinciding with the fact Bitcoin is very much over-stretched right now, I am very much positive that we will seek the lows. Now to answer this scenario...
How can you prepare for what is to come?
If I was to tell you, the possibility to purchase Bitcoin at 3.2k each about 3 months ago, you would of taken this opportunity. In a few weeks we will see this opportunity again, so make sure you are prepared to 'buy the dip'. As Warren Buffet says "Be fearful when others are fearless, and be fearless when others are fearful." Therefore like me, I hope some of you have cash on the side to take advantage of what is to come :)
I hope this wasn't too long guys! If you found any of it useful, drop a comment or pop a like and I will be most grateful! I hope you can see I am pouring my passion & love for trading into this for you guys, so any support is much appreciated.
Yours Sincerely,
Anon. Scholar
Catatan
This is what I'm seeing right now: Catatan
TICK TOCK - USA Markets open soon. What colour are they? RED. Market will gap down sending BTC to oblivion.Catatan
Perfecto precision on this one. Catatan
Want to enter into a short? Wait for a failed re-test, something like this: Catatan
Illuminati confirmed: Catatan
This is what you call a 'dead cat bounce' Catatan
Beautiful 'Dead Cat bounce' Catatan
If the dead cat bounce doesn't seek the lows over the next 24 hours, I reckon we could range up until weekly close. Given creds to George on this one: (Just a possible scenario FYI!) Catatan
MY bad, slight error! 24 hours too short, excuse the mistake: Catatan
Current critical point: Catatan
In my opinion, this breaks down: Catatan
DO NOT TELL MY I DIDN'T WARN YOU! Catatan
I short here, I am expecting to reach 6.2k soon. But this?? Makes no sense how we are holding... Catatan
Perfect, dipped below trend line, wait for a failed test to highlight bulls are broken. I think this 4hr close is going to get messy. Catatan
For anyone who says Bitcoin is not manipulated. Well, what are your thoughts now? This is what we call a darth-maul. Otherwise known as a short-squeeze. Dump still will come v soon. Whoever has that, has the dump ready. Catatan
I want to use my reach to highlight and expose to you all what is going on. I was going to post a new chart highlighting this but I think it's most sensible here. For those who don't know: Binance & Bitmex have been subjected to a recent law-suit filing; in which explains the recent aggressive market manipulation. You can find multiple articles online. Bitmex operates a hidden trading desk which trades against it's own consumers, 'degenerate gamblers' otherwise called 'retail investors'. Bitmex leads the market. They are what I believe preparing some element of an exit scam, in which they can hoard as much profits and then shutdown. Funds on Binance/Bitmex are no longer safe, we will now see people cashing out of this speculating asset. WE cannot trust anyone in this space. Catatan
The same goes for XRP. Less scarce, easier to manipulate. On weekends MEX leads the market. Look what they have been doing. They have been squeezing all shorts, creating multiple bull traps, so you all favor longs, and they will dump on you hard very soon when the stock market crashes. DO NOT TRUST MEX. Catatan
Who else was mentioned in the law-suit filing? Justin Sun - the founder of Tron (TRX). Does this look legit? OR manipulating for an exit scam? 
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