ThereAreNoWalls

Bitcoin is still in a distribution phase, sorry bulls.

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi guys,

so my previous idea that we had a falling wedge with higher probability that we would make a push back upwards towards 7.8k range worked out pretty well
I was short term bullish , and I was watching and waiting for that tick upwards.. but I think the end is very near and we are heading towards a big crash down
in the very near future, maybe in the following weeks, most probably before the halving happens..

looking at everything, I am seeing a Wyckoff distribution pattern that is currently being followed, and this spike upwards was nothing more than our UTAD test
we will probably be ranging a bit within these areas for a few days maybe.. but I think a big drop and crash down out of our rising wedge is likely to be happening

if we do close our monthly candle above the EMA21 I will be very bullish for bitcoin .. so that monthly candle close will tell us all, and that's only 6 days away :)

so for now, my bearish bias still remains, if you want to hear more reasons why? then you can still watch me live on Facebook or Youtube, just google " The Dang Oracle "
have been streaming live daily 7.30PM (UTC+8)

see you on the next one. #stayhome #staysafe #staycovidfree

-Ryu

Comments

I like your ideas
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@Jakerose, thanks!
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Good technicals,
this is my overall TA on the BTCUSD
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ThereAreNoWalls VincePrince
@VincePrince, agree pretty with your chart, however, this sideways movement on low volume/liquidity looks like a potential bart pattern to happen here
although price is kept above the bull zone on your chart, might drop sooner down than expected imo
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