NewMexCapital

Place your bets gents because BTC is preparing for a huge move

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar

BTC is preparing for a big move, probably 50%, it could be even more if it chooses to go up. If you look at the volatility chart you will notice that every time volatility was so low on the 3d chart BTC made a move of at least 42% and in a few days BTC will have to choose a direction because we are getting very close to the apex of the small triangle and the break from the small triangle should be strong enough to cause the break from the big one. On the upside there is a lot of resistance, we have to break all of the 0.65s that sent us down and the SMA200 which is at the resistance of the big descending triangle . Things are about to get very interesting. We favor the the break to the downside but we are also prepared for the scenario in which it breaks to the upside.
-------------------------------------------------
https://newmexcapital.io/

Telegram: https://t.me/NewMexCapital
Twitter: https://twitter.com/newmexcapital

Comments

bear break - 75%
+1 Reply
NewMexCapital DataPatron
@DataPatron, The uninterrupted series of Lower Highs since the ATH suggests that but sometimes descending triangles do break to the upside and it could be a much more profitable trade. Just be careful because you do not want to be on the wrong side of this trade.
+2 Reply
DataPatron NewMexCapital
@NewMexCapital, thank you, it's absolutely possible we will break up. I am prepared for both scenarios. But for me nothing suggest that we have already approached bottom of the market as there is almost no liquidity - very small volume in long term. So it seems the buyers are not interested yet and they are waiting probably for lower prices.. 1 month BTC macd looks terribly bearish as well
+1 Reply
NewMexCapital DataPatron
@DataPatron, we also believe this and the more we stay in the triangle the lower the bottom may be.
+1 Reply
DataPatron NewMexCapital
@NewMexCapital, good luck guys!
Reply
NewMexCapital DataPatron
@DataPatron, Likewise!
Reply
Matthew1972 DataPatron
@DataPatron, volume this low means nothing at this stage. You are not buying too right? We all wait. It will be explosive up, now or after a small breakout, fakeout to the downside. Too manu are affraid to miss out for the rally in november. BAKKT will create hype. TA has its limits, fundamentals will take over
Reply
NewMexCapital Matthew1972
@Matthew1972, volume this low is confirming that we are approaching the triangle's apex. Once we break out of the triangle volume should increase, quite a lot. Until November there is October and BTC could easily fall 50% in one month.
+1 Reply
DataPatron Matthew1972
@Matthew1972, one friendly adwise. I do not know what that thing you wrote is about but never ever read or watch trash crypto news. it's just huge waste of time. look only at the charts. everything you need to know is in them ;)
Reply
DataPatron Matthew1972
@Matthew1972, ask youself - most of the long term signals are still bearish. would you like to bet against the trend? me not. what about overall chart pattern you do see in the long term. technicals says without no doubt we are in a big descending triangle. that is bearish trend continuation signal. zoom more on 4H chart - what do you see. I see without no doubt bearish flag pattern. As I look on that pattern I see head and shoulders pattern too what is another bearish signal. So all of this + low volume and monthly macd and bearish candles telling us we are maybe 80% or more before bear break. If we break up and the trend will change here (very unlikely for me) than congrats to all bulls. But signals are more against them than supporting them. good luck!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out