At this point it is quite obvious that BTC needs more of a correction before seeing a massive bull run again. In this case, I don't see BTC breaking to the upside. Shorting for a bigger buy opportunity is the best option in my opinion.
First price target is 37-38k. Indicators have little relevance during a market crash, except when finding support areas. BTC at 40.5k is a great buy opportunity, however, 37-38k is an even better one. Accumulate whilst heading downhill and always take profits when in the green. Moments like these are why you take profits, so that you can reinvest and accumulate...
I see some people viewing BTC on the hourly and four hourly chart of BTC as an accumulation phase of a Wyckoff pattern, but this is certainly not the case. Not only was the pattern invalidated. but the broader market globally will initiate a further crash of the crypto. This was actually quite obvious considering the Dow Jones, S & P 500, and NASDAQ all exhibited...
Forget Crypto. The broader market has broken both upward trendlines. Longing the market now would be a mistake. Shorting it at this point would be a much wiser thing to do. Most would disagree, but that's exactly when markets do the unthinkable.
BTC has been showing quite a bit of weakness since the correction we had in early September. Not only were we rejected at the gold Fibonacci retracement, but we also seem to be forming a Head and Shoulders Pattern on the four our chart. The left shoulder could be within two areas, either at the 48k mark or the 50.6k mark where we had our second peak. I would...
Not only do we see the Mac D indicator getting ready to have a bearish cross, but we also see that the RSI has yet to come down to touch its bottom on the RSI. ADA seems to be in the perfect representation of a head and shoulders pattern. With BTC looking weak, I don't expect ADA to go flying anytime soon. #SHORT
Elon Musk, Cathy Wood, Jack Dorsey, are all very notable names, however, they still do not have the capabilities of pulling BTC out of a bear market on video conference alone. A crash is necessary and inevitable, what you see is temporary, and this pump is only going to be short-lived.
This descending channel has been there since March during the 3rd major correction of the year. It's provided support and resistance, and now we are potentially going to break under it or fall slowly whilst trading sideways before an upswing. 20k test has been my prediction for a while, and here is the zone that I am going to be accumulating more myself.
I've been calling Bitcoin to go under 30k for weeks, and we have continued to remain in the descending channel that has been present for 3 weeks now. With the stock market currently crashing, bitcoin will not see any upside movement soon. We will see 20k before we see 50k. Short.
Made this chart two weeks ago and said that we were bound for a crash. Others doubted it because it is hard to pull away from a bullish mindset whenever things are going well. The crash is only beginning, and crypto will move alongside it. How do you make money? Simple... Short the market.
A few days ago I said that bitcoin was undergoing a bearish confirmation, and the prediction was right. Longing BTC as of now is not a bad option for the long-term, however, do not be surprised to see BTC fall below 30k this week. Breaking back into the descending channel only confirmed my suspicion that BTC was being falsely pumped. 30k price retest incoming......
This is not a bullish move to the upside... This is simply confirming a bearish symmetrical triangle pattern. I will be taking profits around the major resistance of the 200-moving average and 35k resistance that we haven't been able to break for weeks. Remember, sometimes you have to zoom out and look at the bigger picture. We are STILL in a downtrend.
Ascending triangle pattern looks to be my guess due to the resistance of the pattern's trendline. However, is the market making a bigger move? Breakout targets include 44-45k for ascending and 53.5-54.5k for symmetrical. I'm placing bets on Ascending, but I believe think that the bull cycle will be back in action if we secure the 46k-47k threshold. If we do, I'm...
