Satoshiposer

9 March BTC - Gloomy Double Top, 3 Black Crows but Promising RSI

GEMINI:BTCUSD   Bitcoin / U.S. Dollar
If there were only three indicators I was allowed to use to predict the market in the next few days, my thoughts are outlined as follow.

Short term: Bearish

The last black crow of the 3 black crows just closed on the daily candlestick where the double top formation is now confirmed. Only the Stochastic RSI looks promising but it has yet to hit rock bottom. Once that resets completely, depending on how much lower BTC is going to decline further, we should be able to see a reversal, hopefully, bullish one towards the all time high. For now, we have to keep our fingers crossed. For long term hodlers like me and many others on the street, let's pray.


*** Above analysis for educational purposes only.



Comment: 1hr timeframe



Double top breached to the downside.
Breached 1:1 extension.
Next support 8500-8700
1.618 is the next major support at 7700. Please don't go there.

T_T
Comment: *retracement* not extension.
Comment:

I think the 'worst' (hopefully) case scenario is the double bottom and then pray very hard that the bulls find their feet.

“When all is said and done, the weather and love are the two elements about which one can never be sure.” and $BTC - three.
― Alice Hoffman, Here on Earth
Comment:

9200 and we break down?
Comment: Daily chart.



Say if we do have to correct one last time, i see 7000 but i really hope I am wrong.

T_T
Disclaimer:
This post and ALL (previous and future) posts are purely for entertainment purposes only. The owner of this post is not a lawyer, accountant, financial advisor, investor or pastor. All the comments here are personal opinions.
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