Crypto Bull Run is Over/Almost Over

Could have one more impulse before breaking the parabolic rise. Major profit taking going on. +150% rise in the past 6 months. Time for bears to rule for the next few months...

Komentar:

Everything going as planned. Last impulse should be almost over. Bearish divergences showing up on RSI and MACD. Will post pictures of this later on. Bulls are more bullish than ever, signaling they forgot how Crypto lost 50% of its value in 1 month half a year ago. My friend whose emotions I use as a market sentiment indicator (we will call him "J.E." to protect his reputation) is showing strong bullish emotions and thinks this bull run will reach 80K BTC by the end of the year, and thinks trend lines are imaginary lines with no logic. This post is dedicated to him.

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Everything on track for now. Parabola broke, so bullish momentum should have already reached its peak and for now on we are most likely going down. There will be a few bull traps in the short term, just like these i've collected from 2017 parabolic bull run was over. I expect prive action to be similar.

Current parabolic bull run clean break:

2017 speculative crash bull traps:

2019 now:

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My noob friends are starting to say stupid things about Bitcoin again, just as we break out from a symmetrical triangle into what will most likely be a bull trap. They should be buying into it when we break 13k somewhere around the pink circle, where i will open a big short.

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August monthly candle just closed looking very bearish and with signs of distribution above 10.5k in the last 3 monthly candles. MACD bullish momentum almost gone. Not much to say. Still thinking we will visit 7.5k sooner than later.