Hi all,
following on from the rising wedge, I had a nice ping off the 7k region, in which we should be following scenario (1). See below:
If we take a look at a lower time frame, we can clearly see a double-top. Much less retail buying occuring at this time, & once the Global stock markets start to retrace after the relief rally the last few days, we should see bitcoin follow suit.
Let me know if you have been able to understand and absorb this content; feedback from previous analysis, indicated I needed to try and explain a little bit more.
Yours Sincerely,
Anon.
following on from the rising wedge, I had a nice ping off the 7k region, in which we should be following scenario (1). See below:
If we take a look at a lower time frame, we can clearly see a double-top. Much less retail buying occuring at this time, & once the Global stock markets start to retrace after the relief rally the last few days, we should see bitcoin follow suit.
Let me know if you have been able to understand and absorb this content; feedback from previous analysis, indicated I needed to try and explain a little bit more.
Yours Sincerely,
Anon.
Comment:
Clear rejection of trend line, with big wick down. Very bearish signs.