Attrition

Momentum lost, potential BTC top reached

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
With a perhaps final fast push to 30-34k levels a major correction that's been long over due should start to happen.
On the monthly chart we are above our upper lines and in the past in any asset/coin/currency price couldn't have stayed above there. It ALWAYS came back in. That means at the end of this month BTC price shouldn't be higher than 28k while we could see action during the month like the final push that's probably going to happen, close is what matters. It's true that we still need an upthrust candle so the final push scenario seems likely.

On the daily chart our lower fib and vidya lines have finally crossed back, green was above the purple line since like september and that's not the case anymore showing momentum loss. This happening right exactly on 1st of January seems also weird, perhaps the plan was to pump in December and dump in January like they did in 2017-2018
Trade active: The upthrust was not 34k but instead 42k, always crazy movements with crypto but still that was the upthrust and now it's bursting down.

Comments

Thanks for the update 💕🙏🏽
+1 Reply
I like your indicator, only version 1.0 available publically, can I try yours? Thanks.
+1 Reply
@leondb, It should be the same one, i can't edit the name in the script page so it stayed as v1.0 but the code itself should be v1.3
Try adding the indicator to any chart and check the top left and see what version it says.
Reply
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