Indicators showing BIG DROP (Huge extended bearish divergence)

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Hello dear followers, newcomers, traders & investors

This is update for chart below as drop played out in the redbox but bearish divergence extended even further meanwhile price kept rising

The longer the divergence extends ( indicators going further down meanwhile price stil keeps rising)
The faster and sharper is the knife (correction, drop ,dip) in unexpected time

I´m not saying price can´t go higher to 10 even 12K because media attention and FOMO is big at the moment
but if we keep rising now even to 20K then very bad and long correction is needed like in the run from 6 to 20K which happend in just 3 weeks and correction took exactly 1 year

** This is not a financial advice so always trade on your own risk and only the capital which you can afford to loose **
Comment: Daily indicators looks bearish too
Anoinvest cocoadreamboy
@cocoadreamboy, I dont really know how to read your chart. I don´t understand what you mean.
here we are again! no chance to bring this thing so high right now. Proof is the wedge seems to be very strong... even if it just corrects now to 8.1k or so, next run up will be stalled again half a thousand bucks or so higher then the previous... until the wedge is filled won't go likely higher than 10.5/11.5... we need to see. as for "media", that was already once, and you can't fool them twice as easily, now many perma-bulls believe TD ameritrade and Fidelity will make them rich... Like the financial markets are dumb... or like Bitcoin is all unheard new asset. Astronomical gains can still be made in small coins, if one knows which to pick, not in BTC, at least not "just" like that, Fidelity or no Fidelity! Thanks for your charts.
Anoinvest chocotraders
@chocotraders, as you said astronomical gains can still be made if one knows which to pick and is patient enought. Lets hope we made the right decissions in the long run but always keep R:R in mind. Anyways thanks for feedback and opinion. Cheers
+1 Reply
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