All eyes on the monthly candle (MASSIVE wick, sell pressure) BTC
Usually I post ltf (lower time frame) technical analysis, however one of my followers has requested a long term bitcoin chart so I've decided to create visuals on the monthly chart.
4 candles represents one quarter annually (which is macro - htf) and shows the most data in one candle)
The monthly candle is down $10,000 since it's latest ATH (top) at $42,000.
I'm expecting Q1 2021 to have a MASSIVE wick to the downside which will flush out a lot of traders/investors and then the bull run can continue most likely, I'm macro bullish of course but this cannot go unnoticed.
Please get this technical analysis to 30+ likes to unlock Sunday/Monday's daily TA, enjoy your weekend everyone! 👍
4 candles represents one quarter annually (which is macro - htf) and shows the most data in one candle)
The monthly candle is down $10,000 since it's latest ATH (top) at $42,000.
I'm expecting Q1 2021 to have a MASSIVE wick to the downside which will flush out a lot of traders/investors and then the bull run can continue most likely, I'm macro bullish of course but this cannot go unnoticed.
Please get this technical analysis to 30+ likes to unlock Sunday/Monday's daily TA, enjoy your weekend everyone! 👍
Trade active:
Ive got a feeling of intuition this weekly candle close is going to trap bulls into bad positions going into this week
Ive got a feeling of intuition this weekly candle close is going to trap bulls into bad positions going into this week