OK I have explained the technicals. More importantly the fundamentals:
1) Dow & S&P Futures are both down. USA Markets are expected to open down. As BTC is still coupled with the global markets; I see this being the primary enforcer to push Bitcoin towards the downside.
2) USA have had a 1,000% increase in unemployment rate since last year. BY 4 fold, this is the largest rate of unemployment USA has ever seen.
3) Investors are going to liquidate assets after this weeks gains and take profit, why? USA has just become the highest infected country globally, why would you risk holding an asset over a weekend when the markets are closed?
- Expect a drop today and a drop on monday. Maybe another rally next week after Monday/Tuesday as the FED ramps up QE'ing.
4) USA added $500 BN to their Balance sheet this week. Expect us to be up to $10tn by the end of the crisis. This is a joke.
Yours Sincerely,
Anon.
1) Dow & S&P Futures are both down. USA Markets are expected to open down. As BTC is still coupled with the global markets; I see this being the primary enforcer to push Bitcoin towards the downside.
2) USA have had a 1,000% increase in unemployment rate since last year. BY 4 fold, this is the largest rate of unemployment USA has ever seen.
3) Investors are going to liquidate assets after this weeks gains and take profit, why? USA has just become the highest infected country globally, why would you risk holding an asset over a weekend when the markets are closed?
- Expect a drop today and a drop on monday. Maybe another rally next week after Monday/Tuesday as the FED ramps up QE'ing.
4) USA added $500 BN to their Balance sheet this week. Expect us to be up to $10tn by the end of the crisis. This is a joke.
Yours Sincerely,
Anon.
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UK Prime Minister - Boris Johnson has contracted Corona Virus. FTSE dumped, expect something similar in the US. Futures is down 3.2% as of writing.
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We have dipped below the support-line. Now seeking a rejection to get back above the support-line to confirm bearish signs. This will initiate the rug being pulled and a dump.
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IF you can't see it - maybe this inverse chart will help:
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Wedge broken. Thank you for playing. Ride the short at least until Sunday
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Clean sweep of range now. 0.5 Was not that strong, let's see how it reacts to secondary test. No signs of invalidation as of yet.
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I'm moving target to $5,400 for now. Think we will have a relief bounce off this mark, take profit here and look to re-enter into a short on the bounce high.
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Took some profit at the bottom of that dump. Was nervous about breaking 6k. Has been previously been very strong support. If we continue to range, possible bart up Sunday night. Still bearish overall, people need cash, money will leave Crypto world - reducing MC. Here is a possible scenario... Will keep you all updated. (Wyckoff Accumulation Schematic)
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In coordination with the above post. Hidden bullish divergence appearing. Expecting one more slight leg down to confirm the bullish div. If we bounce the support/buy zone, will be confirmed and then can see a bart up weekly open.
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Firstly. Thank you so much everyone for the continuous support. I have tried to keep this trade live & active with my thoughts. If this is something you would like me to continue to do across all posts let me know in the comments.
Now time for the crystal ball: I can see something like this occurring: Fakeout back to 6500 levels, re-enter short, 3 major resistances, then drop to 6400 levels monday. BLACk MONDAY.
Now time for the crystal ball: I can see something like this occurring: Fakeout back to 6500 levels, re-enter short, 3 major resistances, then drop to 6400 levels monday. BLACk MONDAY.
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As per my forecast above. We saw a slowly devaluation of the price of Bitcoin overnight. touched base of the liquidity pool and broken the LTF resistance driving the price down. I see a 'launch-pad' being created towards the end of the day, with a result of a major bull trap. This is very much the same episode which happened last week. However; this time around I don't think we will consolidate above the 6500 resistance.
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Overall direction down. Short-term relief to trap long coming. But will it break 6500-6800? No. Why? Wedge broke. We have 3 important resistance ahead.
(1). The creek
(2). The wedge support has flipped to resistance
(3). Downtrend resistance. Possible future neckline.
(4). The MC Curve
(1). The creek
(2). The wedge support has flipped to resistance
(3). Downtrend resistance. Possible future neckline.
(4). The MC Curve
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Not looking to good for BTC here. If we fail to get above the downwards pressure MC curve... Well BTC will puke.
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People are asking why am I not Bullish? I am but Long-term. I see a short-term decline at present as we are over-stretched. Please see my lengthy fundamental analysis on Bitcoin here:
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The momentum curve derivative is only exponentially increasing. What does this mean? Selling pressure is evidently enhancing. I am expecting a nuke to appear soon. Coinciding with my first analysis.
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Thanks for playing. TradingView 1 - 0 Casino.
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People are DMing asking if they should close their shorts. Dumps come in Waves. Wait for the 2nd to take some profits. I will be liquidating half my short @ $5,800
