Good morning everyone!
I hope everyone is having a great start to their Friday -considering the circumstances.
SO.. I'm feeling BEARISH here, but my intuition hasn't been very accurate these last few days. While I've had some great calls on the PA, I haven't entered into any trades the last few days because I haven't felt confident enough in anything BTC's been doing.
Waiting to see how the market opens in about 10 minutes, but we could be heading down. But if the market opens in the green, then we could head up. So.. I'll just be watching and waiting. Either way, we are expected for SOME BEARISH CORRECTION over the next 3-4 days. UNLESS - WE GET A NICE BOOST from somewhere and enter into a parabolic move to the upside. Which, given the state of the world right now, whales could decide to jump into BTC head -first at any moment -sending the price through the roof.
On the daily - we are looking at a DEATH CROSS of the 50 and 200MA, an event that has resulted in BIG MOVES TO THE UPSIDE the last few times it has happened.
HASHRATE drop has typically lead to a PRICE DROP followed by a sharp increase in price.
We have RISING PRICE ACTION with DECLINING VOLUME - THIS IS VERY BEARISH
4hr MACD is looking BEARISH.
I am NEUTRAL here in my prediction for BTC. Waiting to see where we break -but I see BTC breaking DOWN, finding support between $5800 - $6000. If we break this support level, we will DROP FURTHER to $4.8K. -which, would ultimately be EXTREMELY BULLISH in the long run (Check my idea below for explanation why).
What do you all think? I would love to hear what your predictions are today!
Follow my on the Tweeter @BitcapJohnny
Telegram too: @BitcapJNY
I hope everyone is having a great start to their Friday -considering the circumstances.
SO.. I'm feeling BEARISH here, but my intuition hasn't been very accurate these last few days. While I've had some great calls on the PA, I haven't entered into any trades the last few days because I haven't felt confident enough in anything BTC's been doing.
Waiting to see how the market opens in about 10 minutes, but we could be heading down. But if the market opens in the green, then we could head up. So.. I'll just be watching and waiting. Either way, we are expected for SOME BEARISH CORRECTION over the next 3-4 days. UNLESS - WE GET A NICE BOOST from somewhere and enter into a parabolic move to the upside. Which, given the state of the world right now, whales could decide to jump into BTC head -first at any moment -sending the price through the roof.
On the daily - we are looking at a DEATH CROSS of the 50 and 200MA, an event that has resulted in BIG MOVES TO THE UPSIDE the last few times it has happened.
HASHRATE drop has typically lead to a PRICE DROP followed by a sharp increase in price.
We have RISING PRICE ACTION with DECLINING VOLUME - THIS IS VERY BEARISH
4hr MACD is looking BEARISH.
I am NEUTRAL here in my prediction for BTC. Waiting to see where we break -but I see BTC breaking DOWN, finding support between $5800 - $6000. If we break this support level, we will DROP FURTHER to $4.8K. -which, would ultimately be EXTREMELY BULLISH in the long run (Check my idea below for explanation why).
What do you all think? I would love to hear what your predictions are today!
Follow my on the Tweeter @BitcapJohnny
Telegram too: @BitcapJNY
