BTC just cracked below 40k. No, no, no... bad news.
As I indicated in my last BTC analysis (👇), losing 40k support is a MAJOR bearish signal.
This is also confirmed by the daily MACD that just flipped on the NEGATIVE. OBV also fell below the 21+55 EMAs... BEARISH.
Those buying here were fooled and those seeing an inverted head and shoulders were fooled twice.
BTC appears ready to go lower unless this is a scam dump or fakeout, unlikely, however.
So what now?
Prepare for the price to head to low 30k, if this bearish trend lasts a while, even sub 30k... that is when you should consider scaling into BTC and juicy alts.
Bias is bearish right now. Stay safe and trade wisely.
It is a totally normal movement nothing fake out or scam dump !
Cyph3r4min
â‹…
@rashadhajiyev96 I think this kind of moves is done by exchanges to liquidate traders, both long and shorts
rashadhajiyev96
â‹…
@a4minn2020, you mean that's all and we will not go down ?
Cyph3r4min
â‹…
@rashadhajiyev96, i have to admit , the chart and macro prints bearish signals but you know this is crypto and it can change all of a sudden, my point is in critical moments say like a support that all the eyes is on that, exchanges and big players add fuel to fire and liquidate traders who are in leverage both shorts and longs
Cyph3r4min
â‹…
@rashadhajiyev96, i personaly think in a flash crash we can see btc/usd in 36k and then go up
Ben_vouh
â‹…
looking bad for btc
Cyph3r4min
â‹…
As usual a Fake breakout to hunt stop losses
go_on
â‹…
maybe fakeout
DU09
â‹…
@go_on, Buyers came strongly under 40k, but the chart is looking bearish, not sure if they save it.
rajaabbas02
â‹…
@go_on, yeah it seems a fall brakeout because holding good position Maybe on weekend we shall see good gains