Bitcoin: falling pattern or money collection from newbies?

Bitcoin: falling pattern or money collection from newbies?

By MikeZillo | Trading with Mike Zillo | 22 Jan 2021


I see many people trash-talking about:

“Bubble Blast”

“The new DOT COM Generation”

“The tulips generation”

“Ponzi Ponzi, para ponzi ponzi pò”.

I see other people almost getting a heart attack because of:

“Oh My God, Bitcoin is dying”

“Oh my Gosh, I invested 100€ and now they are 87.654€.

How will I withdraw the 0.004€ to mitigate my loss?”

“Please, please, take my scam-coin and give my money back. SYSTEM ERROR NUMBER F**K O*F”

You know.

I can seem sarcastic but this is a holy truth. When poorly-minded people join a market on the FOMO wave, feeling their trepidation even from the other side of the phone, well, breath deeply and try to close the phone call as soon as possible.

I got this kind of experience at the beginning of 2018 but I was not already aware enough what was going on.

A person asked me: “Mike, I have 100€ and I want to create an automatic income of 200-300€/month with trading. I am sure you can help me”.

I was so conscious that those results were not achievable from us, from him, maybe from anyone in the world.

But I decided to give him a shot, because I relied on his willing to listen and to be taught. I explained the power of the compounding interest, the importance of trading position consolidation and so on.

Well, he started gaining against BTC since I like trading Alt/BTC. But Bitcoin dollar price was dropping. He panic sold. He begged me to make a wire transfer to him at the price of BTC in this moment and he was sending me the BTCs.
65$. But with a clear profit against BTC.

He contacted me 6 months ago, asking how to invest 450$ to get a 350-450$ passive income per month.

What could I do?

I suggested names of three or four people doing Ponzi schemes in a “professional way”, telling him that these people were doing just Ponzis and to not believe to a word from them.

But they could actually offer something “hardcore” for his pockets. Hardcore both ways: in the positive, while in the negative he could eventually feel a back-pain. You know, when you play hardcore.

One month ago, he asked to talk to me. I just replied: “I always give a shot. You have already have some. Why do you want my time?” He has never replied me then.

Money management, consciousness, awareness, self-discipline, balls between the legs and under the stomach.

Girls, do not be afraid of the balls, it’s a typical Italian speech and it’s just a metaphor for people having guts!

So, after this sermon, you are ready to get my idea on the next movements of Bitcoin.

Btc

Purple horizontal line: when I am writing we broke the previous daily candle bottoms from 12 and 13 January. It’s a bear signal.

Green box: what I expect to be a strong buy area since it took 9 days to Bitcoin to break this area upwards. I can expect a slower descending trend in the coming days, while we will stay here inside.
Btc
Purple box: the first “lateralization area” that we encounter during the descending trend.

Next one will be in 26.500$, at the bottom the of the green box from the previous image.

This are my key levels.

Let’s see how much money will Biden make the FED print.

Let’s see how many people will sell in a panic sell attitude.

If you are afraid of this market and want to know more, even about safer incomes, get in touch.

Mike


MikeZillo
MikeZillo

Daily Trader, Mining Farm Project Manager, Blockchain consultant, Cryptocurrency evangelist. You can find more videos here https://www.youtube.com/channel/UCvyXx6I1C__zmLAYUXNZwQQ?


Trading with Mike Zillo
Trading with Mike Zillo

In this Blog I am going to share view, insights and past positions to create an educational section about trading that will be particularly useful for starters and a great conversation place for more expert traders. Hope you will enjoy it

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.