How often do we stop for a minute and open up a weekly or monthly chart? So many of us call ourselves "traders", scalping every few minutes, but so few of us take a moment to look at the bigger picture. This chart is simple, but very telling. I dont usually include my indicators in my analysis, but I thought this time is was very important to note. It is not every day, when all indicators are telling you the exact same thing--SELL. Also note price action after the secondary top, price topped at the key Fibonacci PHI .618 level and is now, at the current, stalling and showing overlap at the key 50% level. Please take into account the bigger picture here. Sure we may not have this inevitable breakdown for a month or so in time, but with that being said, I would not want to be on the long side for Bitcoins long journey ahead.
More analysis to come, including price and time projections.
Also, please take a look at my other BTC analysis--as many times the analysis takes some time to develop and predictions get missed.
Happy Trading!
BTCUSD
More analysis to come, including price and time projections.
Also, please take a look at my other BTC analysis--as many times the analysis takes some time to develop and predictions get missed.
Happy Trading!
BTCUSD
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