mazoto

BTC / USD Bitstamp: We fly to hell. Right?

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
On my chart, I depicted a pennant that signals a downward movement. I am convinced that in past times we have not gone down enough, so it seems to me that now we will fall somewhere lower. In addition, I have attached indicators that support my idea.

It seems to me that within 4 weeks we will move at current levels. Afret successfuly closing these 4 weeks, according to the NYA Sequential indicator (based on the Sequential Thomas DeMark indicator), we will receive a setting and start moving down, which will be a correction.
Comment:
The Chaikin Money Flow indicator has formed a divergence on the chart, which means the downward movement. Let me remind you that the "divergence" is one of the strongest signals.

Comments

Still think it is going down? Bitcoin looks like it is about to break out to the upside. We will see what will happen next week.
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mazoto usr32
@usr32, I still think he will fall. Today there will be new idea, but more short-term.
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I think you are right about bitcoin further declining. I see resemblance between the pattern 10 september - 5 november and current pattern (on the weekly chart). That means in 2 weeks the breakdown will probably start. Bitcoin dropped $3000 in november. Bitcoin millionaires will start panic selling if bitcoin breaks down, i think bitcoin could drop another $3000 towards sub $1000 region.
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mazoto usr32
@usr32, if bitcoin drops to $ 1000, then the new youngest crypto millionaire will appear in the world :)
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usr32 mazoto
@mazoto, I believe if bitcoin dumps money (bitcoin) will flow into altcoin and tokens. There are altcoins and tokens that already have broken out to the upside versus btc.
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What are those 1-2-3-4-5 numbers you use in the chart?
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mazoto usr32
@usr32, these figures indicate the construction of the setup, after closing the candle with the number 9, we can expect a change in trend.
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Do you think bitcoin will follow when NYSE goes down? Wouldn't bitcoin function as a safe haven in case of stock market decline?
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mazoto usr32
@usr32, i do not think that the US stock market could collapse. If we talk about local destruction, for example, a European bank with a large enough capitalization will collapse, then yes, Bitcoin can receive an influx of new interested people. But I do not think that the stock market will fall apart. Bitcoin to 20 thousand grew without any institutional investors, why do we need new people? We ourselves can.
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