Devastating BTC Sell Signal Suggests 60+% Fall On The Way!
The three charts in front of you are all monthly BTC charts. That means that each candle on these charts contains an entire month of trading. As you can see, we are looking at three different time periods in BTC's history. The chart on the left is focused on August of 2014. The chart in the middle is focused on June of 2018, and the chart on the right is focused on present day BTC.
There have only been two occasions in the entire history of BTC, where the monthly MACD had a bearish crossover. Looking at the chart on the left, you can see that in August of 2014, BTC had a bearish crossover on the MACD. Starting with the following month, price fell 66.83% over a five month period.
Looking at the middle chart, you can see that BTC had it's second monthly MACD bearish crossover during June of 2018. Then, beginning with the following month, prices fell 62.86% over a six month period.
Now, if we look at today, you can see that the current monthly MACD is crossing over bearish. Based on the past history, we should expect five to six months of downside, totaling a loss of approximately 60%. It could be more, it could be less, but the past two examples suggest that is what we should expect for this bearish signal. That sort of a fall would put BTC in the 3000 range. If that happened, it would be unprecedented for Bitcoin, because BTC has never collapsed below its 200 week moving average, which it would have to do to reach the 3000 level. Currently, the 200 week moving average is near 5000.
I've shown in multiple analyses why I believe that BTC is likely to fall to 3000 or lower. I've pointed to the fact that it never touched the bottom of my rising blue arc, before entering the recent bull run. I also showed you the five wave impulse cycle that BTC has been in for it's entire life, and that we recently entered what appears to be an ABC correction. The ABC started at the all time high, and it projects that BTC will fall to 3000 or lower. I've showed you how the NVT is setting up for a huge breakdown too. When multiple longer term bearish signals combine like this, it usually doesn't end well.
I could go on and on about the bearishness. BTC had a death cross. It's below the 200 MA, the 100 MA, the 50 MA, and even the 20 MA. The Gaussian Channel is red and falling, and BTC is below it. BTC just broke down below a massive head and shoulders pattern, it broke down below the 61.8% retrace, and it broke down below the 50 week moving average. BTC is in a bear market downtrend, consistently printing lower highs and lower lows. I don't know how much evidence a person needs, but for me, that is more than enough for me to stay on the sidelines, except for executing occasional scalp trades. I think this market is very dangerous right now, and there are much better opportunities (on the long side) in the US stock market.
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
There have only been two occasions in the entire history of BTC, where the monthly MACD had a bearish crossover. Looking at the chart on the left, you can see that in August of 2014, BTC had a bearish crossover on the MACD. Starting with the following month, price fell 66.83% over a five month period.
Looking at the middle chart, you can see that BTC had it's second monthly MACD bearish crossover during June of 2018. Then, beginning with the following month, prices fell 62.86% over a six month period.
Now, if we look at today, you can see that the current monthly MACD is crossing over bearish. Based on the past history, we should expect five to six months of downside, totaling a loss of approximately 60%. It could be more, it could be less, but the past two examples suggest that is what we should expect for this bearish signal. That sort of a fall would put BTC in the 3000 range. If that happened, it would be unprecedented for Bitcoin, because BTC has never collapsed below its 200 week moving average, which it would have to do to reach the 3000 level. Currently, the 200 week moving average is near 5000.
I've shown in multiple analyses why I believe that BTC is likely to fall to 3000 or lower. I've pointed to the fact that it never touched the bottom of my rising blue arc, before entering the recent bull run. I also showed you the five wave impulse cycle that BTC has been in for it's entire life, and that we recently entered what appears to be an ABC correction. The ABC started at the all time high, and it projects that BTC will fall to 3000 or lower. I've showed you how the NVT is setting up for a huge breakdown too. When multiple longer term bearish signals combine like this, it usually doesn't end well.
I could go on and on about the bearishness. BTC had a death cross. It's below the 200 MA, the 100 MA, the 50 MA, and even the 20 MA. The Gaussian Channel is red and falling, and BTC is below it. BTC just broke down below a massive head and shoulders pattern, it broke down below the 61.8% retrace, and it broke down below the 50 week moving average. BTC is in a bear market downtrend, consistently printing lower highs and lower lows. I don't know how much evidence a person needs, but for me, that is more than enough for me to stay on the sidelines, except for executing occasional scalp trades. I think this market is very dangerous right now, and there are much better opportunities (on the long side) in the US stock market.
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-