BTC Has Lost Over 13% Since My Warning At The 50 EMA! (BTC) >=D
MWAH-HA-HA-HA-HAAAAA!!! Welcome friends, foes, animals, aliens, my family of crypto lovers, and all of those sad little maggots who take the oposite trade of me — welcome to this update analaysis on BITCOIN! Let's get right to it! Looking at the four hour chart, you can see that my bear flag broke down, EXACTLY where I warned. I told everyone that buying below resistance will destroy you in the long run. But hey, if you didn't heed my warning, I can't help you. The other thing I want to point out, is that you people need to have PATIENCE. If I put out an analysis, and say that I think something is going to happen, and the market gyrates in the opposite direction, understand that market gyrations are normal. That's what I keep seeing with the noobs. Like when I put out the bearish projection (blue arrow) and then BTC ended up rallying back into the bear flag. So, who was wrong? All of the noobs came out in full force, to chastise me on how wrong I was, but they never realized that BTC had just moved back into the bear flag. My analysis and my projection has remained the same, because I realize that we are back under significant resistance. In fact, the bear flag breakdown was generated from multiple failures at the 1200 EMA (in red,) which I've been warning about like nobody's business.
At the moment, you can see that we're catching a small bounce off of a the grey support zone on my chart, but the pink downtrend resistance is just overhead, followed by the deadly 50 EMA (in orange.) Therefore, I do think it's possible that we could consolidate or move slightly higher here, before we roll back over to the downside, as a result of running into either of the aforementioned resistance levels. The downside target of the black support level is still in tact, but it is not set in stone. No target is EVER set in stone. It is a general guideline for where the market is technically likely to go. However, we must assess the market's reactions as it moves toward the target. For now, it looks like we could definitely reach the black trendline.
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-Magic loves you-
-JD-
At the moment, you can see that we're catching a small bounce off of a the grey support zone on my chart, but the pink downtrend resistance is just overhead, followed by the deadly 50 EMA (in orange.) Therefore, I do think it's possible that we could consolidate or move slightly higher here, before we roll back over to the downside, as a result of running into either of the aforementioned resistance levels. The downside target of the black support level is still in tact, but it is not set in stone. No target is EVER set in stone. It is a general guideline for where the market is technically likely to go. However, we must assess the market's reactions as it moves toward the target. For now, it looks like we could definitely reach the black trendline.
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-Magic loves you-
-JD-
Comment:
Where I warned about the 50 EMA resistance...
