Good evening too all my Bitcoin family and fellow traders. Tonight I am taking a look at the daily time frame for the first time in a good while. I just have not been looking at it mainly due to the fact all the indicators I typically use to find support and resistance etc were not particularly helpful on the 1 day chart. They still are for the most part a good ways away from the candles themselves but that doesnt necessarily mean you cannot get an analysis from this chart. But like I always say, look at numerous time frames. I recommend the 1hr 4hr 1day 1week 15min. Anything else would be okay as well but just remember that e even though you can create your own time frames they wont help you if nobody is using it. The main time frames that are used most commonly by traders are already on the list and those are the only ones I pay attention to personally. But looking at only one time frame when you are trading is like driving with an eye patch on. Sure you can see, but you lose a lot of other vital necessities like loss of depAllth perception among other things. Looking at other time frames can open up a new outlook sometimes you can totally miss by focusing on your favorite time frame. Every time frame has a different 50 MA and a different 200 MA and a different cloud. All of which can provide the candles with support or resistance. I can see that looking at what I can see on the daily it seems as if the 200 MA is finally beginning to reverse course and will head south again very soon as it has crested. This market is cyclical and this is a shining example of that as the 200 MA will begin to fall and will likely drag the candles with it. Well when the candles finally fall enough they will eventually conquer the 200 MA and bulls should react well to that and we will see some green candles like the last time we had a golden cross. If I am reading this chart correctly we are forming a bear pennant and we will drop again very soon. I cant tell you exact dates but what I can say is I know its close. Even looking at the bolinger bands as they are finally tightening back up again and the longest they lasted at this amount of separation was 10 days. When those bolinger bands on the daily contract you better watch out as volatility is right around the corner. So we are at the end of the bear pennant and we see tight bands? Mix and you have a red candle. Now this is Bitcoin and we all know how it loves proving people like me wrong so always be ready for the unexpected just in case. But all signs currently point to another dip... But the again WTFDIK???