Hello dear followers,traders and newcomers nor bulls and bears.
In this TA I would like to show you mid/long term follow up of bear / bull divergences as well as share a opinion on current local top because of many factors and indicators
You can see Bear divergence at the ATH (Indicators going down in overbought area & price going still up) Previously you could see bull div near very strong support (Indicators going up in oversold area & price still down)
Now you can see bearish divergence forming in very high RSI range as well.
WARNING !! This might not be exact top yet !! This parabola could lead to 10-11,5K !!
But my thoughts are we are topping and we will head back to approx. 5K range to test that red line from ATH causing resistance if it can stay as support now in approx. 2months then sideways till November before going higher.
** This is not financial advice, so always trade on your own risk and do your own research first before putting your money in and risking them **
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This is something very interesting. I´ve realized that Gold and BTC have literally the same trend. Check this out .. Im sure that it will shock you imgur.com/a/kWYJhHd
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Lot of indicators are topping on high time frame. This is dangerous area for sure for entry
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What looks scary is SI+Bands on 15Day chart
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What makes me feel better is monthly chart at which the bull trend literally just started. We might see a correction but long term this can break ATH till 2021
There will be no mass adoption to some asset class that is in mass quantities (scarce in nature) held by the very few rich who can splash and spill it at their whims and fancies. There will be no adoption due to the fact of exchanges manipulating the prices covering up their laundering activities. The way the elites are creating a magical effect that every human will choke up if they don't own btc today is ridiculous. Dreams of 100k to 500k prices sold to the common man inviting them to speculation is a karmic crime anyways. Comparing it to gold and releasing TV ads this year doesn't make sense either when it was most needed last year to infuse confidence during a bear phase (again personal motive of bary silbert since he has a trust and must be having heavy alt bags his trust invests into) These guys Pompalino, Saifdean, Mccormack, Mcafee, Antanopolous, Murad, Armstrong, Winklevoss twins, Jimmy Wong and likes of all these names, who are they? Since years they have been in a super plan mode to promote this asset class shilling and selling dreams to every single person on twitter taking them away from the current activities of life. I see many people having dreams of making 2 million dollars in as quick as 2 years by just buying btc. DO u guys even think these people, these names i mentioned they are the mafia in crypto run and controlled by much bigger heads who fund them. Bitfinex is running a day light robbery as easy as cutting butter with a knife willfully printing paper tether and priming the prices up. Does this all seem normal to everyone? Leaving a paying job or atleast working with a half willed heart at work and more immersed into crypto are you doing justice to yourself? Why is it now that we are hearing all good news? Why? That ad "drop gold" by Grayscale why didn't it come last year when people were losing money buying the top. Don't u think that was the perfect time to introduce people to bitcoin if adoption was truly the agenda. Nope that time they were dumping their bags at inflated rates upon you at 18k, 15k, 10k and so on. Now when they filled their waters with bags down dumping upon you since Jan till April this was the perfect time to create a full on bull mode so that FOMO kicks in hard. This is exactly what is happening. No one gives a fuck of btc. Even readers of my message won't. The simple reason is that all of us need money to live and not a block asset that appreciates and depreciates in minutes. The fact all of us would want to redeem btc at 100k or 500k so the beleif is still cash out into fiat. Why? U love btc why cash into fiat. If that's the case then fiat pays more importance to btc. Take time think whats happening why its happening and who is playing this game. What is their motive. I'm pretty sure its to sell their low bought bags at higher rates and have u hold them for ages till finally either government shuts this down or btc retraces and eventually fails to act as a currency which in most cases it will.
Anoinvest
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@aakeelr, Interesting write up. Thanks for your time