This chart describes this recent drop but in little detail... You can find it here:
Now, don't get too comfortable.
Bitcoin has been doing numbers and not following TA lately.
Also, you can see a wick take place and then prices resume growing... So be careful.
Do not use this information to trade.
Do your own research.
Now I will read the chart for you in detail.
Bitcoin Drop Explained!
Let's read the signals on this chart.
1) We have a on the new peak. (This is a signal)
BTCUSD hit $18977... Wow! Great job Bitcoin .
2) Bitcoin hasn't been doing much correction/retrace but this is a normal part of market action. Things move up and down, up and down, so this is normal.
We wouldn't be surprised to see Bitcoin retrace, in fact, we welcome a retrace as this would signal HEALTHY growth.
3) The TD Sequential is now showing a negative count.
4) The is showing divergence and also a cross (the line crossing down the Signal line).
5) The histogram is going red.
6) The hit overbought 18-Nov. and is now starting to drop.
Note: Technically, Bitcoin is strongly ... Prices remain above EMA10, EMA21, and EMA50.
Only after Bitcoin breaks and closes below these levels we start to consider the bias.
The above are what I call "early signals".
Do not trade on this chart alone, do your own research.
We don't trade these setups, we consider them to be high-risk and hard.
Instead, we look/focus on the smaller altcoins which are very, very, very easy to trade.
They have lower risk and higher potential rewards... I hope that makes sense.
Leave a comment!
Do you have a chart?
Share it with us!
How are you doing?
Thanks a lot for your support.
4H: (4H also bearish)
Weekly (W) still looks good:
When I started to develop my third eye I faced some problems...
You get to see the future, you get excited, and start sharing everything you see that will happen ahead.
The problem is you have no practice and you never think about the date.
For some events, I started predicting, it was all good but I was years ahead.
As time goes on, baby step...
You get used to this new ability and start to understand.
You see everything at once but not everything will happen today.
I upgraded my thoughts and started to improve day by day.
Before, I would tell you about an upcoming bull-market, many thought I missed the train... this happened years ago... Reality hits today.
Few weeks back I would try again and tell you, "Be ready, another wave is on its way..."
I might be off by a day or two but the results are always the same.
With proof in the results, here comes the bullish wave.
We will collect massive profits...
Thank you 3rd eye 👁, you are the best.
But, what about the next one, in 4 months...
Will you trust me and profit?
Or will you be one of those who misses the train?
It is not too late to join this one...
The bullish action starts today.
Wishing you great health, wealth & success.
Wishing you the best always.
Daily and 4H bearish.
Weekly still bullish.
Thanks to you
Ok all right sir