Hope is dangerous, but faith is invincible.

Hello everyone. The bulls are in some serious trouble.
Let me tell you why.

Let's make it short and sweet, shall we?
-Major trend line broken in RSI.
-7 Rejections of overbought in RSI prior to entering 70.
-Major 1.618 extension rejection.
-Multiple bearish engulfing candles.
-Volume expanding on sell candles.
-Upward percentage gains on green candles shrinking.
-60 RSI rejection on monthly.
-Triple rejection of the RSI trend in 4h:

On the bulls side:
-Giant flag.
-Holding 50 RSI. (For now..)
-POTENTAIL Inverted HS forming. Honestly the best hopium I can find. (Target is around $16k.)
-Major dumps getting bought back up fairly quickly.

Welp. Bears outnumber the bulls here, sorry bois.
Prediction: dampy dampy - and I ain't talkin about no minor $600 dump.
IF bulls can close the daily above 50 RSI for the next week somehow, mega rally.
IF bulls cannot continue to close daily above 50 RSI, $7,985 and especially $7,297 become very, very important.

Chances are decent this inverted head and shoulders is legit due to the neckline.
Volume profile is a bit worrying, however. Bitcoin doesn't give slow and weak head.

My name is teh_Salesman, but you can call me MC_Peewee 2.0.
Time to rebuild.

Best of luck.

Comment:

keep an eye on 40 RSI on the hourly.
Bitcoin is attempting to break below it.
A break below will very likely lead to a darth maul lightsaber.
A high probability trade can be found at the bottom of the bull flag around $9,121.
$9,311 is closest support below local low.

Bull break is a strong volume push above $10k.
$10,165 is the next target and past that- CME gap at $11.7k.

VOLUME IS IMPORTANT.
If the IHS is legit, this should be a fairly low but abrupt volume push to the bottom of the flag, and then a substantial bounce.
Strong and abrupt volume push downwards like earlier will likely result in liquidity cascading.

Comment:

This is stupid bearish.

Only bullish thing I see here is the huge influx on sell volume.
eegh

Comment:

fekkit

Comment:

this is either a fat long or 9311 is toast

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stupid fat*

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GO LONG.
You'll get the bounce to at least the bear resistance- put your stop on entry and it's a free trade. legit.

This thing might moon

Comment:

bitmex bois

Comment:

There SEEMS TO BE A DISCREPANCY!
it aint easy bein cheezy

RIGHT to the resistance.
now wut does she dooo?

Comment:

We're under stupid resistance.
This entire idea was bear.
Hate to say it but at 10x lev you're looking at minimum 5-10% upwards here.

That's NOT to say the overall idea is incorrect, however. 4H now has a lot of room to run but it was dnied thrice at 60. A 50 rejection and we're looking at a near apocalypse especially if 50 on the daily even wicks past that point.

Comment:

dumb stupid ez tp and sl

33% on tp, 100% on sl.

why am i so good at this yet so poor

Comment:

for your free trade*
might i add.

fuuuuuuuuuuuug

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50 holds and it's all she wrote.
yes, this is a 1 minute chart. get over it.

swear.
later yall. till next time

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PS
ibb.co/gScyPq9

that is all. goodnight yall

Comment:

err, fack.
ibb.co/HNwgNsn

thats the one.

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kk.

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lol ok for real time to cook some hamburger helper and get the frig off this platform.
i've had enough trading internet for tonight :x

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like a twig.
see you at psych support

ily <3

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As my grandpa used to say, back in the day.
Not bad for a hairlip.

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guh

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you said you need support + resistance levels?

i got all the levels u need dawg, take ur pick
;-)

Comment:

PS-
Last update on this idea until another high probability trade presents itself that I happen to catch.

This was my prior account.
This is an 8 month old post. Notice that we're still in roughly the same price range?
eee.

Comment:

I have no self discipline. STILL. fuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu

Okay. THAT is my last update.
2 many attempts.
say buh-bye.

Comment:

I lied.
ibb.co/3pTPGnp