In addition to my previous bearish signal in the 1 hour chart I have found yet another bearish pattern in the 4 hour. If you see a bullish signal please share.
I call this phenommenon a bearish UFO and if we look at the history we can easily say that these type of UFO's are the ones that won't beam you up lol.
Again it's a bearish (divergence) signal hiding very well in the chart . Every time this phenommenon occurs the trend went drastically down in the last 6 months. I'm expecting a drop of a significant 20-25 percent.
Once it drops, expect another, much more powerful and well deserved long bounce that will reach a pivot close to the black hole.
Thanks for taking your time to read this!
Stay safe and good luck everyone!
PS: This is for educational purposes only. I am not a financial advisor. The sharing of graphs is meant to share my ideas with the rest of the community and an indication on how I make my trades
Very interesting.. I understand and can see everything except for what is the black hole???
HodlCrypot
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@Gweilo, Hi mate, the black hole is a name that I give to the area where there are no long buyers entering the market and anyone who gets into a long position near that area dissapears into a black hole. Whenever the price gets near that area (call it a trend line) it gets rejected. It remains valid until a market shift will take place.