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DeNomics
Sep 20, 2021 11:57 PM

BTC continuation down Short

Bitcoin / U.S. dollarBitstamp

Description

We lost the support at 44k last night and saw a pretty sharp breakdown and is now acting as resistance on the smaller time frames.

Expecting a continuation move down to the area of interest around 38-40k before seeing another attempt and trying to change market structure.

IMO the market is still bearish and any bullish rally we have is a short term recovery.... You know how everyone screams "BUY THE DIP" in a bull market?
Well in a bear market we "SELL THE RECOVERY"

If you have trouble looking at charts objectively because of a confirmation bias, try inverting the chart and having another look
Comments
greenpasture936
GB.. 100 day still holding but as you say, the market is in a weak area next week or so. Thinking 33k will hold on the Dow and 37 to 40 K likely hold on BTC. That would be a 15K drop. About right.
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