Everything included, cheap props...*Bonus* Actual Good TA.
Well My friends here we are and this chart explains all there is needed to know. It is the Long View.
This chart is a counter balance for those that throw charts out with 1.5 million Dollar BTC . This is our attempt to make fun of it. This is people money so lets provide some education here and unite for one moment. Please give us a like and a follow and check our signature.
If we slip through our hard floor its going to hurt and people could lose 35%+ of their money. We are entering a dangerous zone here for Bitcoin . Bitcoin is known for parabolic moves and we are probably going to see one here shorty.
This is the data set and the pattern is clear. We have have a hard floor at 6k and a soft floor of 7k based on the and the pattern most of the price action throughout the year has been between 6k and 7k. “7K Bullish" and "6k Bearish”
Let me explain based on probability why will break down and here is why.
The market sentiment is overall with descending triangles with smaller and smaller bounces from our ATH that are continuously smashed down on our hard floor of 6k when they fail to break the yearly resistance and not finding support on the soft floor of 7k which would be . The money flowing in and out of the market (The market cap) is getting smaller and smaller when it flows back in. Think of it like the ocean, the tide (Market Cap) keeps going out, when the tide comes back the water is further out.
There is now major resistance to even find support on our soft floor of 7k. In Bitcoin there are still a lot of burned hands, criminal investigations, denials in the US, China out, India basically out though they could come back after elections from what I'm being told.
Again the bounces are smaller from the ATH and continuously leaning / being pressed on this hard floor of 6k not the soft floor of 7k which would be . There is now major resistance to even reach our yearly soft floor of 7k again. Though I believe its possible we could pump to 7k in head fake or an overthrow and fall from there.
I believe the market makers will eventually stop trying to defend the area of 6k area which has been the pattern all year long but patterns eventually break and when and if we fall through our hard support its going to be a parabolic move and its going to hurt...We could be wrong and we see $8,600 to invalidate this idea but its doubtful.
Remember everyday, new data, we try to stay up to date constantly. Checking our signature for more details.
Play the market don't let the market play you. Lets take back the power!!
When we fall which we probably will. I'll let the chart speak for its self.