- bearish divergence on the weekly MACD and RSI - bearish divergence on the monthly MACD and RSI - weekly MACD crossed bearish - 4 months out of this year has been spent in this rising wedge that broke down - closed 2 weekly candles under 20 week SMA (crucial support for btc , especially in bull market phases) - about 22 months into the cycle, top should be in now. (see Plan B's btc stock to flow chart)
now for some fundamental reasons:
- everyone expects a blowoff top so it wont happen. whales seemingly frontran this and are selling now - retail is rediculously bullish - fed taper narrative - ive heard random people in public talking about nft's and crypto. this is not a normal thing for non-bubbles - btc etf was introduced ( btc futures open was literally the top of the 2017 cycle)
if you know me in person, there is one more chart i have found that is a sure fire sign that the top is in. ask me to show u next time we are in person.
"ive heard random people in public talking about nft's and crypto. this is not a normal thing for non-bubbles" This is actually somewhat of a good point to think about
DACapitalTrading
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thanks for sharing
Traveler4774
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More correction ahead BUT this cycle not over. Same haters every time, you would think people would learn. We overestimate mankind’s humility.
B_Musk
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This Bull market has barely begun for many assets. Don’t conflate the growth of a small subset of assets with the broader market. Many months of gains left, including BTC.
B_Musk
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You are mistaken, but that’s ok, we have to learn by taking a few punches
This is actually somewhat of a good point to think about