BTC: clear bearish pennant continuation pattern forming on weekly, we still have not seen capitulation volume yet. ETH : weekly stoch rsi is already bearish crossed, ethusd long/shorts hits ATH, around 4.
overall sentiment: retailer money has been sucked in shitcoins that playing pump and dump game. ETH long/short also indicate the overall sentiment of the market.
looking at weekly chart, 2k is imminent is just a matter of time. lets wait and see.
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By the way, BTC weekly rsi first time hitting the resistance since we drop from 6k
@LijiLe, Capitulation volume is not necessary in 2019. Futures will change the way we see and define volume for years to come. To even compare 2015 to now when it comes to volume is absolute ignorance IMO. The vast majority of it is faked.
"Capitulation volume" will happen after we bull trap people FIRST just as this guy said. Capitulation is true panic. People wouldn't panic if we fall at this point because we're already still so close to the bottom.
Bring it up a few grand and THEN dump it on people who FOMO'd in, and that will be true panic.
LijiLe
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@mc_peewee, any upside should be marginal...
vbori001
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@LijiLe, I think the difference between 2014 and 2018-19 is that no bull trap will accrue.
LijiLe
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@vbori001, very likely, i was expecting bull trap to 4400-4600, im suprised bull haven't pushed to that area, while weekly rsi almost hits the resistance
TradingShot
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I disagree. The ~85% drop from the ATH is over. We should be slowly moving higher from here.
LijiLe
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@TradingShot, lets wait a few months and see, 90% drop is also normal
KryptoL0gCZ
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Iam too for short.
tommix
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Why not drop to 3580$? Also only noobs use Bitfinex data for charts. Bitfinex use fake fiat and prices are incorrect and not friendly to the rest of market.