BTC is looking rather fishy at the moment

Strong hidden bearish divergence and a bearish pennant .
I'm astonished how blind most TA's seem to be currently.

Trade safe


Just to point out some similarities with november's drop.
Comment: The trade is still active, dont get fooled by the price's jittering over drawn lines. Actually it would be more accurate to use areas instead of lines when highlighting patterns.
Can I create any average like this? Sorry if you already answered, have no found. Couldn't do it myself.
MrRenev MrRenev
@MrRenev, Nevermind I assume it's just typing the formula in "Ticker" when not in chart mode.
dklug8 MrRenev
@MrRenev, just type it in the symbol field
These are my same thoughts. In Bitcoin, making money is never this easy. This is a trap, and a lot of people are gonna get caught underwater because of it.
With the strength of this current rally, if we truly are bull, we need to create a higher high. Anything less than that is going to cause a significant dump IMO.
+7 Reply
When zooming out on a weekly timeframe, these two last pumps look so insignificant, yet everybody here seemingly turned into a moonboy, calling everybody who has a different opinion an idiot who missed the train. It doesn't matter what you say, only their opinion matters. They never consider any other possibilities. I would love a bullrun myself, but I don't think it is the right time for one. I wouldn't be surprised if it later dumps down to an even lower low. I think people are still way too optimistic. We need one last big red dildo to crush their minds. We need a rock bottom market sentiment, while having a long and boring post-capitulation sideways price action before a new bullrun starts again.
+4 Reply
@MRudy, I'd love one too, but experience showed me how important a neutral perspective is. We are nowhere near the old trend lines, and therefore I don't expect it to have achieved complete correction already.
+1 Reply
@MRudy, I don't think a bull run is likely, but IMO a return to retest the 200 EMA in the 4800 area wouldn't be unrealistic. That being said, I'm not taking that position unless we break out of this bear pennant. I've secured my long profits for now, and am shorting at the current resistance.
BTCUSD H4 Correction up. Checkout the idea detail's and all the update's for the complete picture.
@Boon2, Why do you post an old guess that hasn't hit quite a mark?
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