OK are we going to break under 30 000
I'm sure that's the big question right now
Let's look at the situation btc is in at this moment.
We had a nice rally back up to 40 000 I'm sure bulls had high hopes for a continuation
It seems this rally was to end all hope.
I remember saying close all buy orders I hope some of the people following did so.
IF YOU DID PLEASE LIKE THIS POST AS CONFIRMATION IF YOU DON'T MIND
any how
Well if you looking at the daily down you looking at the wrong time line all the action is happening on the weekly time frame.
Why do I say so
The bearish ingulfing pattern that appeared on the weekly on the 22feb and the side ways considation that followed was a clear indication of current events.
A huge sum of oney was removed from btc
It seems like someone with a lot of coins has been selling. That is the only explanation that makes sense.
If we look at the adx on the 4h time frame we see it clearly points up and the D- sits high indicating strong bearish Ness close to support level in this case rsi means nothing
So we step up the time frame to see what's happening on the daily same signal
Like I mentioned in previous post if the kensanand kujin goes under the cloud on the 4h time frame we will see more downswing or a complete turn bearish.
Reason being
All other time frames where under besides the 4h weekly and monthly.
In this event it kinda shows the pullback is on the weekly or monthly
We could speculate that the entry or buy zone for this could have been somewhere close to 10 000 with a marginal sell and re entry between 15 000 to 27 000 after a period of consolidation
ALL INDICATORS POINT TO A DEEPER DROP SO PEOPLE IF YOUR SELLING LET'S HODL AND STRAP ON DIAMOND HANDS AND LAZER EYES.
I'm sure that's the big question right now
Let's look at the situation btc is in at this moment.
We had a nice rally back up to 40 000 I'm sure bulls had high hopes for a continuation
It seems this rally was to end all hope.
I remember saying close all buy orders I hope some of the people following did so.
IF YOU DID PLEASE LIKE THIS POST AS CONFIRMATION IF YOU DON'T MIND
any how
Well if you looking at the daily down you looking at the wrong time line all the action is happening on the weekly time frame.
Why do I say so
The bearish ingulfing pattern that appeared on the weekly on the 22feb and the side ways considation that followed was a clear indication of current events.
A huge sum of oney was removed from btc
It seems like someone with a lot of coins has been selling. That is the only explanation that makes sense.
If we look at the adx on the 4h time frame we see it clearly points up and the D- sits high indicating strong bearish Ness close to support level in this case rsi means nothing
So we step up the time frame to see what's happening on the daily same signal
Like I mentioned in previous post if the kensanand kujin goes under the cloud on the 4h time frame we will see more downswing or a complete turn bearish.
Reason being
All other time frames where under besides the 4h weekly and monthly.
In this event it kinda shows the pullback is on the weekly or monthly
We could speculate that the entry or buy zone for this could have been somewhere close to 10 000 with a marginal sell and re entry between 15 000 to 27 000 after a period of consolidation
ALL INDICATORS POINT TO A DEEPER DROP SO PEOPLE IF YOUR SELLING LET'S HODL AND STRAP ON DIAMOND HANDS AND LAZER EYES.
