Why Crypto Twitter’s Biggest Bull Suddenly Turned Bearish on Bitcoin
The pseudonymous Majin isn’t the most popular trader on Crypto Twitter, but even haters must admit that he’s got a knack for reading the market and has been on a hot streak since at least December 2018.
Just to give you an example of how he called the bitcoin bottom, he tweeted a chart on January 28 that shows the leading cryptocurrency bottoming out at $3,200 and pumping above $4,000. As we all know, that came to pass.
Since then and up until recently, Majin has been calling for bitcoin to trade higher. When people were thinking that $6,000 was the end of the rally, the analyst called for a swift move above $7,000. When bitcoin breached $8,000, the trader continued to be bullish. Majin relied on a technical indicator (white dots) showing that bitcoin was trending higher.
In addition to that, Majin also studies buy and sell walls. As a liquidity game-theorist, the understanding of how bulls operated buy bots enabled the trader to make spot-on calls. This put the pseudonymous account a cut above other technical analysts in the community.