Hello all,
This November was miraculous for us crypto traders. The price has set the new ATH of 69k USD.
However, is everything so clear and beautiful as it seems to be? There are several signs indicating that
"crypto winter" is on the way. Let's list them as follows:
1. On weekly and monthly charts the price is forming a very obvious regular bearish divergence.
2. On any time frame we can observe that the price is contracting in a rising wedge pattern, which is a beautiful sign of incoming bearish correction.
3. If we take a look at candles then we can see that bearish candles are bigger in size than bullish ones, plus the bearish move is faster than the bullish move.
4. The US Fed is not going to print money forever. This artificial bubble is going to crash pretty soon. Last week US30, NAS100 & SP500 all experienced quite a substantial correction.
5. Also, if we look at the weekly chart the price might form a double top pattern, which would definitely indicate a solid bearish move.
I guess all above mentioned factors are indicating that the crypto market might be standing at the edge of the cliff right now.
Disclaimer: Any risk related to trading this cryptocurrency is solely on you. Please, think thoroughly before making any trading decision. Cheers! :)
This November was miraculous for us crypto traders. The price has set the new ATH of 69k USD.
However, is everything so clear and beautiful as it seems to be? There are several signs indicating that
"crypto winter" is on the way. Let's list them as follows:
1. On weekly and monthly charts the price is forming a very obvious regular bearish divergence.
2. On any time frame we can observe that the price is contracting in a rising wedge pattern, which is a beautiful sign of incoming bearish correction.
3. If we take a look at candles then we can see that bearish candles are bigger in size than bullish ones, plus the bearish move is faster than the bullish move.
4. The US Fed is not going to print money forever. This artificial bubble is going to crash pretty soon. Last week US30, NAS100 & SP500 all experienced quite a substantial correction.
5. Also, if we look at the weekly chart the price might form a double top pattern, which would definitely indicate a solid bearish move.
I guess all above mentioned factors are indicating that the crypto market might be standing at the edge of the cliff right now.
Disclaimer: Any risk related to trading this cryptocurrency is solely on you. Please, think thoroughly before making any trading decision. Cheers! :)