We will need to see confirmation at 9170 first .
should ramp and make a larger candle to recover.
..... Note it does look like this is what BTC is doing - But there is also a an outstanding drop to 8500 which has not been taken yet by BTC.. so what does this mean ?
- This means if BTC breaks lower than 9010 then exit the trade as BTC may be moving to 88xx / 85xx. Buy back lower at around 8500.
the 30 min will drop a problem candle in 3 mins
So where does the 7500 fit in
>>> What this mean Mycotoxin ?
Great question , this means that if that move is not played then we move with BTC up to about 9400 (closer to 9500 but 9400 is safer ) and then exit as BTC should then drop to 8500 . This is assuming BTC does not take the 8500 drop Now but decides to moe higher.
Exiting out the bottom could signify a short visit to hell .. exiting out the top will indicate a trip to heaven to hang out with the BTC Angels in the 10k area.
This move may be a movement down or a movement up and will change the current trend
The Pinbar usually reverses the direction and the doji continues the movement .
My interpretation is this means is BTC can drop close to the bottom of the channel at 8900 then move back up . It will not be a fast move and will happen slowly.
This is just my interpretation and of course nothing can happen and BTC just continues upwards
Im adding this to the list of BTC IOUS 8500 , 7800 , 6k and 4K
Which will leave 8500, 8200 , 7800 , 6k and 4k drops missing,
This moves may not be taken today as BTC is sneaky and pretends to ignore them
There is one last and the strongest and best point of correction for BTC that no one talks about and that is at 1300 . This was skipped in 2017 and has never been covered - but as we know BTC the bull does not forget.
THis is why we should not fall for these sleight of hand misdirected moves.
Guess ill join in for a bit ..
This is a bulltrap as the minimum drop distance is 8200
- There is a 7600 drop also but ill have to double-check this one late r.
This is red flag for me as this is an incomplete move.
At least now we know the 7500 mark is many hours away so we can party like its 1999 while the 12 hour candle is away
Also BTC hit 7900 not 7800 so this upward move currently is an incomplete move and has to be Fake as the drop distance is to 7780 and not 7900.
The only way BTC can prevent the drop to 7500 is if BTC climbs to 9200 in the next 12 hours
BTC is till working on this move so the drop is not over yet
Out of curiosity i graphed this using the 23 hour candle to see if the values change and the price reflected is 7199. So we may see further BTC drops .
But I've double checked and its returning the same value of 6700 .
"myctoxin do you believe that crap about the 23 hour candle saying BTC will hit 6700"
Thanks Wuntang Elton John, I use the 23 hour candle because its not used any traders so its not easily manipulated and its values can be trusted. With a big candle showin on this 23 candle its a fixed candle from the past so the values cannot be manipulated.
This is also how I can check when BTC has missed a drop .
To confirm I've checked the past values this candle has returned and the values do check out as correct. Id say i have 85% confidence in the value the 23 hour candle is returning . Thank You "Wuntang Elton John"
PS: By the way, I made up this Question and Answer but you get the point.