BTC HEADING DOWN - DONT BE STUCK HOLDING

Bitcoin / United States DollarCoinbase

Description

⋅ Feb 28, 2021 6:57 AM

As bullish as I am - I still call it how I see it. The purpose of technical analysis is to maximise profits and minimise losses. Bitcoin is showing some very bearish signals and extreme caution needs to be taken otherwise you could see yourself holding massive bags on the way down.

Bearish signals
- Death cross incoming
- Macd converging downward
- Volume decreasing

What to expect
- resets of the trends support line, if fails we will see a drop-down to the 200 day MA which is around $24,300 range.

As always let me know what you think

''Buy Big Sell BIGGER'' - MegaWhale

Comment

⋅ Feb 28, 2021 6:58 AM

we could see a bounce at $37,000 sending us back up to $50,000+ but this is the less likely senario

Comments

Henry_Ross

⋅ Feb 28, 2021 7:41 AM

Good, agree!
Nice chart

Dave-FX-Hunter

⋅ Feb 28, 2021 7:31 AM

Lets see

prhasn

⋅ Feb 28, 2021 7:26 AM

It does not make sense for Bitcoin to go lower. We are in the peak season of corporates buy in.

MegaWhale

⋅ Feb 28, 2021 7:29 AM

@Phassan, exactly - you need to go against the market, WB said it best ''be fearful when people are greedy and greedy when people are fearful''

Cococrisp04

⋅ Feb 28, 2021 5:05 PM

Great timing on this call out, could have saved people thousands if they all saw this.