Finally something big is coming up and it is a short opportunity for BTC. As you can see there is huge bearish divergence on RSI, bearish divergence on MACD, all on daily chart, what did not happened for very long time. Everybody is bullish on social media, red laser eyes and another shits but BTC need correction and it is irreversible and necessary. My targets and potential levels are two. First around 40k (Im sure that will happen) and second what im not sure if happen is 20K. On weekly chart is also huge bearish divergence on RSI, what can also tell you that everybody should be aware of dump.
It is really good for BTC that institutions are buying and everybody want bitcoin, but what will happen if they start to be in loss after btc bitcoin dump ? If they sell, we are gonna have a big problem. So there is also question, what reaction of big institutions will be after big starts dump, if they will have balls to hold it or they start to sell and big fear will spread into the market.
If anybody finds my thought helpfull, please iam welcomed for btc gifts :D my btc wallet: bc1qq5tplyvek08rzpldz8dnnx2zqmhlx4swxevft4
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Here you can see huge tripple bearish divergence on RSI for weekly chart. It will be interesting :D
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Another thing is there is lack of liquidity on the market because almost every big investor withdraw their btc from market and this market is also over-leveraged with longs so this is recipe to big and fast flash crash. Like i said, 40K area is in my opinion very likely to happen and for 20K I would set just orders in case of flash crash.
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BTC is actually under MA231, on 4H chart it is two times confirmed, this is first time since end of January after bigger correction, what BTC is under this line, but this time, it is just a beginning.
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first target done, i told you that iam sure 40k will happen but in that times, bitcoin needed more time for settlement.
Hi, every buyer want to have such black friday on BTC, but recently BTC always suprises and it bounces in most unexpected levels...
of course this could be different...
I'm not also big fan of all those big hype around BTC...
Lubox
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@mgrenda, yes you are right, but market seems different now, struggling to get up and that indicators are on insane levels, everybody look on low time frames. Yes we could up again but than the real correction will be more aggressive.
mgrenda
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@Lubox,true, but you know how it behaves recently...suddenly some kind of pump out of the blue and we are going up in short time.
I'm observing all time frames and most known indicators and thos pumps changes everything.
mgrenda
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@Lubox, And i'm waiting for such correction since two months...:)
of course this could be different...
I'm not also big fan of all those big hype around BTC...