So, this Bitcoin thing, right? It jumps up like, 2.4% to $88,000. Big deal. Suddenly everyone’s an expert. Easter Sunday? Long weekend? Who cares! Sentiment shift, they say. Palpable. As if I can actually feel what other people are thinking. Preposterous. 🙄
Uncertainty, fear, doubt? Good. That’s how I like it. Now it’s greed? Ugh. And these “experts” – don’t even get me started. Last chance to buy before it hits $100,000? $200,000? Robert Kiyosaki? Who is even listening to that guy? Seriously? 🤔
But, and here’s the kicker, this rally? Over. Done. Finito. Why? Because I say so. Just kidding…sort of. There are “reasons,” apparently. Three of them. Prepare to be underwhelmed.
First off, the 200-day moving average. Sounds impressive, doesn’t it? It hit it. Didn’t break it. Big whoop. Like some imaginary line on a chart is going to dictate the fate of Bitcoin. Give me a break. 🙄 Previously, Bitcoin broke through this important line in March, tested it in early April, saw a rejection and has now returned to it — and once again failed to break above it.
Second, Bollinger Bands. More lines! More indicators! It’s like they’re making this stuff up as they go along. Upper band, overbought, blah blah blah. So what? It’s a band. It’s not like Bitcoin’s going to listen to a band. It just so happened that the upper band of this popular indicator coincided exactly with the same point where the 200-day moving average lies — also on the daily time frame. What’s more, after the spike, Bitcoin hit the upper band, which can signal an “overbought” situation for the leading cryptocurrency.
And finally, reason number three: the weekly chart’s RSI indicator. A trendline resistance. Bearish divergence. September 2024. Are you kidding me with this? It’s like reading tea leaves. ☕ A closer look reveals a similarity to the situation in September 2024.
But back then, BTC managed to break above that resistance — while now, it has only touched it. So?
Oh, and gold‘s at an all-time high. Bitcoin’s going to follow. Michael Saylor bought $555 million worth of BTC. Great. More noise. More hype. 🙉
Optimism is in the air. Fantastic. Perfect conditions for a massive sell-off. You know, to screw over all the excited people. Because that’s what the universe does. Just when you think you’re in, BAM! Rug pull. 🤡
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2025-04-21 18:33