Bad news.
After yesterday's green everything is awesome candle, we got the red candle again, at least for now. Looks like it is going to test that 9.2-9.3k.
I'll buy some serious amounts if this goes below $8k. and I don't mean small potatoes like $100.
Yes, it bears repeating that
I see no special reason for 9k to hold. We keep testing close to it and neither newbs or institutions are stepping in en masse to buy corn at that price. Lots of people, myself included are saying to themselves they will buy cheap corn if it gets to around 8k. Question is will they chicken out at that point if the doom callers start pounding the table or will they give us the big volume green dildo we need.
I dont think it can possibly go lower than 4900 but Im guessing that somewhere between 7500-8500 would put an end to this minibubble correction.
Im not calling bottom till I see a shit ton of buyers or 4900 whichever comes first. My bet is bargain boyz step in with corn bags blazing around 8100.
via Imgflip Meme GeneratorA month and a half ago I posted this and while I started leaning more bullish right before 9k was breached I still stepped in around 8k and bought a lot more corn.
What I have not seen is a shit ton of buyers come in on the weekly volume candles. Institutions are not coming atm as shown by bakkt and it looks like the true believers mostly exhausted their fiat on the way up to 14K.Time to face the truth.
We had a minibubble this summer and now we are towards the end climax of a mini bear market. I see little reason to believe high 7ks is the end as the serious buying (bargain boyz) have not stepped in yet in a major way.
What does this mean?7500k will most likely be breached and then we need major volume at the 6000-6500 support to end this minibear.
The good thing about the mini bear that the mini bubble created is it wont last long like the last big bear market. So
fuck off in advance to all the bear trolls that will come out of the woodwork at 6500 saying its another 3 years of bear and 5 years till ATH
The overall bull market is still intact and nothing is wrong with having a mini bubble and mini bear inside the bull run to 100-300k.
Approx 6k in the next 30 days would just be a reversion to the mean on HM's 2015 fractal and we could continue on in splendid fashion from there. Lets not forget the perfect storm we had during the mini bubble of
bakkt hype(canceled),
libra hype(canceled),
tether panic(canceled), stock boyz ATH's an
risk on environment (tentative),
Fed signalling rate cuts and QE (happened but the buzz is gone) that propelled us to 14k prematurely and too far away from the halving to be sustainable.
The hangover is easier to handle when you admit you got drunk on the hype and fomo. If we test 3k again then its fair to say we have never left the big bear market but
I am 99.99999 percent sure that that wont happen.
I have one last big bag of fiat left for the low 6k region to purchase a nice sum of coins and if that gets breached, well fuck, my short term bearishness will have proven to be too conservative.
Have faith though hodlers that the halving and
the soundest hardest money known to man will save us and we are almost through the worst of it with this mini bear market soon resolving itself as sweet bottom memes are posted at the perfect time.
The first over leveraged bull to lash out at me and call me a bear troll is a cunt-tard twat of a fucknut and will be shown no kindness by yours truly
Better to
focus on moving your fiat to exchanges and where to put in your buy orders than trying to fight long term bulls with short term bearish pragmatism like myself.
PS: I put the
most important parts in bold for the
TLDR peeps out there.
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