Well My friends here we are exactly where we should be and this chart explains "The Long View."
While I've seen a lot of charts posting 50k I've been waiting and bidding my time for big moves for 600% gains. I don't play games and I don't post a new chart every hour. I believe in the short term we could see a retest of 5,800ish and bounce off it. We won't go straight down they'll be some bounces along the way. I believe we could possibly ride a trend line around $5,400 before another eventual drop. Shortly we should see the an eventual seller exhaustion for the time being. If you want to know where the smart money will be buying I've mapped it out here for you based strictly on the volume profile and some other factors.
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I've had some fun with the chart guys. This chart is completely valid based on where the money should come in at.
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This is probably the most accurate chart I've seen to look for the bottom. I can't promise you'll get the girl, but will most likely find out bottom in there. $3200-2800 range.
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Correction on last chart.
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Nailed It. Hope everyone got the Lambo and the girl but be careful here. If we learned anything its usually short lived and lonely at the top. -Achtung360
@rev214us, yes it is. The hype phase is over now we are looking for the adoption phase.
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Thank you for you work!
In today's (November 16) video analysis (see updates below), I discuss:
BTC analysis for daily chart:
We are printing a red 9 on the TD with no signs of reversal just yet. The hammer would have been bullish if we start climbing at least $100-200 in price. For now, it looks more bearish.
Weekly analysis:
The weekly candle closes in 3 days and we are fast approaching a close below the $5500 order block. If this happens then the prediction of the next OB will come true fast: $3000-$4800.
Nice Chart btw :D