Hi,
As I predicted we crashed. (check my related idea below).
And bounced back very fast thanks to "buy the dip" mentality and manipulator tweet. (I hate him)
But looking at the chart:
1. We are still making lower lows and in a downtrend channel unless we start to close candles above 44k. (even if it close above 44k, it will probably go down, after rejecting 49k on daily chart and still would be making a lower low.) Now we are bouncing down from the upper line of the down channel.
2. Price action formed ascending wedge, which is a bearish continuation pattern in a downtrend. It was going up when we were in the bull trend, but now every ascending wedge breaks downwards.
3. Decreasing volume. Buy volume only spiked at bounce, and it is because price is heavily manipulated by someone who wants to open short and long positions and tweet so he can earn money easy with manipulating the sheeps.
As I predicted we crashed. (check my related idea below).
And bounced back very fast thanks to "buy the dip" mentality and manipulator tweet. (I hate him)
But looking at the chart:
1. We are still making lower lows and in a downtrend channel unless we start to close candles above 44k. (even if it close above 44k, it will probably go down, after rejecting 49k on daily chart and still would be making a lower low.) Now we are bouncing down from the upper line of the down channel.
2. Price action formed ascending wedge, which is a bearish continuation pattern in a downtrend. It was going up when we were in the bull trend, but now every ascending wedge breaks downwards.
3. Decreasing volume. Buy volume only spiked at bounce, and it is because price is heavily manipulated by someone who wants to open short and long positions and tweet so he can earn money easy with manipulating the sheeps.
Note
Started dumping exactly like I predicted. Unfortunately I did not have funds to take this trade, I lost too much.Note
I am drunk. Because I lost money I felt bad, my analysis were mostly right but I bought tops. It is all about luck, gamble.Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.