Hi, Trader_ph here and welcome to my daily analysis. BTC hit an ATH which is impressive, but the question is: Pullback, where are you? I believe the pullback is here. I will explain:
1. EffDI DIVERGENCE in line and dots!
Okay, sorry for the caps. But when there is a divergence in the EffDi indicator, it is a strong signal. It almost always works. The Effective divergence indicator has a break in its own trendline. Very bearish. Also, the Effdi hit it's own Fib 1.618 resistance which is known for killing BTC trends. One last thing for the EffDi: CONFIRMED Head and shoulders. Selling is on the way, never buy the top unless you like to lose money.
2. Elliot wave complete
I will go direct here. The 5 wave elliot is now complete, meaning the trend is exhausted. Reversal!
3. Decreasing volume in bull rally, lesser bulls everytime? Bearish of course
This is bearish. Meaning, more bulls are less confident in the trend. People are selling their profits for good cash. Dump incoming...
Thanks for reading. Sorry if it was shorter, need to catch up with something.
1. EffDI DIVERGENCE in line and dots!
Okay, sorry for the caps. But when there is a divergence in the EffDi indicator, it is a strong signal. It almost always works. The Effective divergence indicator has a break in its own trendline. Very bearish. Also, the Effdi hit it's own Fib 1.618 resistance which is known for killing BTC trends. One last thing for the EffDi: CONFIRMED Head and shoulders. Selling is on the way, never buy the top unless you like to lose money.
2. Elliot wave complete
I will go direct here. The 5 wave elliot is now complete, meaning the trend is exhausted. Reversal!
3. Decreasing volume in bull rally, lesser bulls everytime? Bearish of course
This is bearish. Meaning, more bulls are less confident in the trend. People are selling their profits for good cash. Dump incoming...
Thanks for reading. Sorry if it was shorter, need to catch up with something.