Yesterday on Sept 13 BTC was smashing into MAJOR OH resistance @ the BF channel & LT downward slopping resistance leading into the CPI data release.
The RSI on the 4HR, 1HR & 15 min were also all really overbought, which is why I said that there was a decent chance that the CPI numbers wouldn't be good.
Things to note:
- Hard rejection from BF resistance & downward slopping trendline
- Broke below 9 & 21SMA IF 9 turns down, lookout below
- Bear target #1 @ July low $18.6K
- Bear target #2 @ June low $17.5K
IF we break below the June low, refer to my earlier work.
On the 4HR:
- the 9SMA is taking a straight shot DOWN right now, looking to cross bearish BELOW the 100SMA anywhere between 8PM & 12PM EST.
Do not underestimate how bearish this COULD be. Notice I said could.
If you see BTC start to come down, know that it is the result of algos triggering because of the 9 on the 4HR.
Play safe folks & PLEASE IGNORE THE HYPE. Honestly blows my mind how many followers these top influencers have without ANY knowledge of TA.
Not even trying to talk ish, but since I've been doing this, it actually kills me when I see people giving out TERRIBLE advice & I know for a fact they are not even looking at the technicals.
Anyway moving along...LOL
I will be updating as we go, so we'll let the journey take us there, no need to rush it.
The RSI on the 4HR, 1HR & 15 min were also all really overbought, which is why I said that there was a decent chance that the CPI numbers wouldn't be good.
Things to note:
- Hard rejection from BF resistance & downward slopping trendline
- Broke below 9 & 21SMA IF 9 turns down, lookout below
- Bear target #1 @ July low $18.6K
- Bear target #2 @ June low $17.5K
IF we break below the June low, refer to my earlier work.
On the 4HR:
- the 9SMA is taking a straight shot DOWN right now, looking to cross bearish BELOW the 100SMA anywhere between 8PM & 12PM EST.
Do not underestimate how bearish this COULD be. Notice I said could.
If you see BTC start to come down, know that it is the result of algos triggering because of the 9 on the 4HR.
Play safe folks & PLEASE IGNORE THE HYPE. Honestly blows my mind how many followers these top influencers have without ANY knowledge of TA.
Not even trying to talk ish, but since I've been doing this, it actually kills me when I see people giving out TERRIBLE advice & I know for a fact they are not even looking at the technicals.
Anyway moving along...LOL
I will be updating as we go, so we'll let the journey take us there, no need to rush it.