So, let's recap the overall picture. We are in a bear market downtrend, BTC has repeatedly failed to get above the 50 , it has broken down from a , a crossover was just produced on the , we've broken below the 61.8% retrace, and we've formed a symmetrical triangle during a downtrend, which is typically a continuation pattern. The bears clearly have the advantage here, and the highest probability outcome, is a breakdown of the symmetrical triangle. Initial support would likely be found near the level. A drop below that, would put my "bear flag target," which nobody thought was possible, in play. Don't lose sight of the fact that we've just confirmed the heavy as the ceiling. Further downside is to be expected. A miraculous break to the upside of the symmetrical triangle, would put the 200 (in purple) and the heavy in sight — an unlikely feat.
This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-MPC loves you-
The thing is, IF btc is going down to $7500, its going down slowly, you should have mentioned that.
I have been pulling shorts and longs between 10k and 12k, also waiting on the dip, but as a trader you should also know that your support is getting stronger as well as your resistance.
Don't be biased bro, to bull, no good, too bear no good.
MPC not doing much trading, more like trying hard to push prices down with the media, the sheeple just follow.
Come talk to me when BTC hits 28k :) safe trades
whales are just like us. they wanna ride the wave.
fear is gone from this market people are just waiting best time to buy.
charts dont buy or sell. it's the people that buy and sell.
study the market not the charts :)
charts should be used as just a complementary thing to strengthen your view on the state of the market.
I feel almost everyone expects it to climb, it's going so slowly thought, like every one is scared.
Probably because alot of people expected it to get to 8k. The thing is 8k wasn't supposed to happen right away, and at the same time if it doesn't happen this week it probably won't happen at all because that would mean a long bear market. Hopefully everything goes up up up once the week end is over and the weekly candle closes.