BTCUSD is situated into this from 26 november 2018 until today and it most likely in late this month or february we will have a huge,massive and fast breakdown untill 1800-1900$. What is important to understand,i m not a permabear or permabull but this chart is extremly
Beriash is a continuation pattern and NOT a reversal pattern which means the price will likely to drop once again. Firstly,we dropped 51%,from november until today we are into a consolidation zone and soon we will continue to drop till this targets
slowly want to go into the green zone but probably only these two line will touch each other and after will made a bearcross.Why? If will cross up we will going up hard which means REVERSAL but:
-We have a strong MA weekly resistance at 3758 and after at 4327
-Bearish is a continuation pattern so we will drop
-RSI is above 30 so we have more room to drop
-MA bearcross in februrary at (at the moment each MA at monthly is act as resistances so don t WAIT FOR 5K BECAUSE WE WILL NOT GOING TO 5K AT THE MOMENT
-MACD at is too high,we need more correction untill we reach -0- neutral zone
-We can go till 43xx maximum but after we will going down(or will going up higher sub form of a peak and candle will close below resistance of bear penannt
-ETF Vaneckx will be rejected
-Bakkt will be delayed
No..i m not a permabear but we need MORE CORRECTION.After MA cross at 1 i WILL BUY ALTCOINS
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Support line at monthly timeframe
This will be a bearflag? :-)
If will play out,next target 3430-3460$
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BTCUSD Long positions is near ATH which means soon we will have a huge drop.To liquidate these long positions we need a massive long squeeze which will result into a HUGE BTC PRICE DROP. Why we need this? In bearmarket 95% or more need to lose their money before market reversal.
BTCUSDSHORTS now is into a low range which means soon short positions will going up. The question is ,WHY?
It s pretty simple.every market have a psihology,when the price will go up=people will open long position,when price will go down=will open short positions and yes in this way will get REKT
In july when opened shorts was at lowest level and opened LONGS was high,price willl dumped with 28%
in November when short positions was at 20k and the long positions was high, same thing was happened.43% DUMP in BTC price
Now,in february probably we will see a huge huge downward movement :) and probably,will be the LAST!
Feb 11-18 probably will be the date when we reach the BOTTOM.
Between 11-18 feb we will see a big movement and at the moment we haven t yet a huge red candle which means CAPITULATION.
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And soon bakkt will be delayed also and capitulation will start!
We will going down..i m in USDC and still waiting.
At the moment it s not a good time to play in bitmex these huge movements.