btc seems to be hanging off a cliff here. our daily indicator has crossed bearish a few days ago and has resumed downtrend successfully. btc has printed a double hidden bearish divergence in this range on the daily, and continues to show signs of weakness with each passing day.
i highlighted the last few times our indicator crossed bearish (on the daily) with a similar hidden bearish divergence + the reaction btc saw each and every time.
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i was looking for this current correction to expand in time, but my theory is becoming less probable with each passing moment. i''m going to keep this real simple, if buyers don't come in over the next few days, btc will likely fall off this cliff.
@TradingSurfers made a beautiful post the other day displaying the cliff - check it out 👇
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i've shared numerous bearish alternatives over the last few months, and ima leave them here for you to feast on:
Bitty likes to sit at resistance whenever some fed related news is about to drop; sept 13 is a good example. Expecting something similar for the 2 day fomc; if the market gets a full percentage point that may be enough to kick off the downward run in earnest. I'd still like to see a raid of the lows and a squeeze to 25ish before the last leg down, give neither group what they want initially13k/30k.