BITCOIN - Is Rolling Over Time To Get The Life Jackets
Ok guys
Continuing from previous the previous thread BTC is here looking like it is in a Y wave to to go lower.
We'll have to see how it reacts as other markets open, but as is so common it could be a leading indicator that another bearish week is coming up.
It hasn't quite rolled over yet and as long as it can hold this area then things can change but its not looking good for any bounce play.
And so if it is a Y wave then we can expect more impuslive dumps to take price lower and perhaps wave 1 and 2 have completed.
...
A key detail is the BTC.D is pushing up again.
And this is really indicative of a continuing bear market.
Also ETH is looking like trash and this can also now be an impulsive wave 3.
Notice how the previous high was rejected by the 50MA - looking bearish.
So we'll see what happens into the week but this is not a great time to have a bunch of risky longs imo.
That said I am still holding GAFI as I updated in the thread- for as long as it holds this tight price band i think it can have a cheeky pump. It could be building a lot of cause to explode potentially, but we'll see.
It just goes to show how strange crypto is to have a 700 rank coin outperforming all of the alts in a bearish phase.
For example this is GAFI/ETH
So its worth holding for now i think.
Not advice.
Continuing from previous the previous thread BTC is here looking like it is in a Y wave to to go lower.
We'll have to see how it reacts as other markets open, but as is so common it could be a leading indicator that another bearish week is coming up.
It hasn't quite rolled over yet and as long as it can hold this area then things can change but its not looking good for any bounce play.
And so if it is a Y wave then we can expect more impuslive dumps to take price lower and perhaps wave 1 and 2 have completed.
...
A key detail is the BTC.D is pushing up again.
And this is really indicative of a continuing bear market.
Also ETH is looking like trash and this can also now be an impulsive wave 3.
Notice how the previous high was rejected by the 50MA - looking bearish.
So we'll see what happens into the week but this is not a great time to have a bunch of risky longs imo.
That said I am still holding GAFI as I updated in the thread- for as long as it holds this tight price band i think it can have a cheeky pump. It could be building a lot of cause to explode potentially, but we'll see.
It just goes to show how strange crypto is to have a 700 rank coin outperforming all of the alts in a bearish phase.
For example this is GAFI/ETH
So its worth holding for now i think.
Not advice.
Comment:
BTC in an expanding diagonal.
Comment:
Carnage in stock market but it should be noticed at least that BTC is not budging. It may just be that it is hanging tight before falling, but as I keep saying that as long as it is within range of the blue band then a bounce could be on.
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