ATTENTON - BEARISH PATTERNS IN BITCOIN
Hello traders,
I want to share this chart with you because I think the Crypto market, Bitcoin and the ALTS are struggling.
There are no rises that last but drop back every time. There is low volume and negative patterns are forming on the way. I personally don't find that particularly bullish.
I do not say this negative scenario would play out it is just a warning and nothing more. You need to judge yourself if you find this true or you want to ignore!
Here on the 90 minute chart we see a bearish sysmetric triangle. that has NOT broken out yet. A bearish head shoulder pattern is forming and we also see 2 bearish rising wedges.
There are also negative divergences in several indictors.
So we have:
1. Bearish Negative divergences in indicators
2. Low volume
3. Bearish Rising wedges
4. A bearish head shoulder pattern
5 A bearish symmetrical triangle.
--> A symmetrical triangle in a trend up is bullish but a triangle in a downtrend is bearish.
Personally, I am closing all my positions until there is more clarity on whether we are breaking out of this triangle upwards or not.
It doesn't make sense to hold alts if BTC is going to be again bearish. Possible I do some shorts but it depends only on what the market do and how it choose it's direction.
Traders, this is NOT advice, it is my view and my positions that I am closing out of safety. Everyone do what they want because as always there are bulls and bears fighting a battle. That only keeps the market always priced fair and in balance whatever the price is.
Also I trade what I see and I am NOT Bullish nor Bearish at all. It doesn't matter me if the market goes up or down, just want to make profits out of it.
By the way, there is always another danger and that is a tweet from Musk who is creepily manipulating the market. Also, larger funds can just make the price go up if they want to. These are truths and not hypotheses.
So please discuss what you see in a constructive way and also why you think this or that. Only saying it is going up is pretty useless. The market doesn't matter waht you feel. It just works the way it does with the bull and the bears and of course the hyper manipulation here. In the end, the biog funds are looking for your money! That is the way, they earn their money!
Wish you all good luck!
Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like👍. That motivates me a lot to continue💚!
I want to share this chart with you because I think the Crypto market, Bitcoin and the ALTS are struggling.
There are no rises that last but drop back every time. There is low volume and negative patterns are forming on the way. I personally don't find that particularly bullish.
I do not say this negative scenario would play out it is just a warning and nothing more. You need to judge yourself if you find this true or you want to ignore!
Here on the 90 minute chart we see a bearish sysmetric triangle. that has NOT broken out yet. A bearish head shoulder pattern is forming and we also see 2 bearish rising wedges.
There are also negative divergences in several indictors.
So we have:
1. Bearish Negative divergences in indicators
2. Low volume
3. Bearish Rising wedges
4. A bearish head shoulder pattern
5 A bearish symmetrical triangle.
--> A symmetrical triangle in a trend up is bullish but a triangle in a downtrend is bearish.
Personally, I am closing all my positions until there is more clarity on whether we are breaking out of this triangle upwards or not.
It doesn't make sense to hold alts if BTC is going to be again bearish. Possible I do some shorts but it depends only on what the market do and how it choose it's direction.
Traders, this is NOT advice, it is my view and my positions that I am closing out of safety. Everyone do what they want because as always there are bulls and bears fighting a battle. That only keeps the market always priced fair and in balance whatever the price is.
Also I trade what I see and I am NOT Bullish nor Bearish at all. It doesn't matter me if the market goes up or down, just want to make profits out of it.
By the way, there is always another danger and that is a tweet from Musk who is creepily manipulating the market. Also, larger funds can just make the price go up if they want to. These are truths and not hypotheses.
So please discuss what you see in a constructive way and also why you think this or that. Only saying it is going up is pretty useless. The market doesn't matter waht you feel. It just works the way it does with the bull and the bears and of course the hyper manipulation here. In the end, the biog funds are looking for your money! That is the way, they earn their money!
Wish you all good luck!
Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like👍. That motivates me a lot to continue💚!
Comment:
One last thing for today;-) If you guys see a breakout or a rise/fall then look closely at the volume. Often those without volume are not valid and thus a false breakout. Better still is confirmation. A neckline for example that is broken through seems bad but the price almost always comes back for a re-test! That is then the moment to say goodbye to your position and you immediately have a validated breakout. Doesn't matter what it is for pattern or trend line.
Comment:
By the way,
Longer term view here. What you guys think of that?
Longer term view here. What you guys think of that?
Comment:
Hello traders,
We have unfortunately broken the bearish rising wedge to the downside.
Personally I expect now this scenario. It is a hypothese not a trading advice of course!
We have unfortunately broken the bearish rising wedge to the downside.
Personally I expect now this scenario. It is a hypothese not a trading advice of course!
Comment:
Dear traders,
We see high volume and a first target can be 34870
watch out trying to catch bottoms because of a low RSI! In an RSI you can see a bottom and then the price can go much lower.
We see high volume and a first target can be 34870
watch out trying to catch bottoms because of a low RSI! In an RSI you can see a bottom and then the price can go much lower.
Comment:
Hello traders,
Bitcoin's price is returning to the neckline to re-test it before we will probably see a new leg down. This is what I expect anyway unless we see a tweet again by the man of the electric cars, forgot his name! ;-)
Succes with trading guys!
Bitcoin's price is returning to the neckline to re-test it before we will probably see a new leg down. This is what I expect anyway unless we see a tweet again by the man of the electric cars, forgot his name! ;-)
Succes with trading guys!
Comment:
Comment:
Dear traders,
Patterns change all the time and situations also. That is why this need constant monitoring to see if not something different is more likely to happen.
It was the same in Litecoin. There was a perfect inverted HS. Too good to be true almost. But the leader was not healthy and I choose to close all my longs before this new decline and I hope you did this also with me.
Here is a new chart and we see a new HS formation. The most interesting thing... it point straight to the old bottom.
Wat happens after that? That is something for a next time ;-)
Traders, I say it all the time. This is no trading advice, I just post here my own trading idea's and everybody is free to look at it.
Please do share your comments and write why you think this or that will happen. That way we get new idea's and it is only good to know.
Untill the next update!
Happy and safe trading guys!
Patterns change all the time and situations also. That is why this need constant monitoring to see if not something different is more likely to happen.
It was the same in Litecoin. There was a perfect inverted HS. Too good to be true almost. But the leader was not healthy and I choose to close all my longs before this new decline and I hope you did this also with me.
Here is a new chart and we see a new HS formation. The most interesting thing... it point straight to the old bottom.
Wat happens after that? That is something for a next time ;-)
Traders, I say it all the time. This is no trading advice, I just post here my own trading idea's and everybody is free to look at it.
Please do share your comments and write why you think this or that will happen. That way we get new idea's and it is only good to know.
Untill the next update!
Happy and safe trading guys!
Trade active:
Just look at the chart while I was posting this and see that Bitcoin already is below the neckline. So first target is the blue triangle boundery. Then I think it will go back to re-test the neckline and afterwe will see soon the lst low.
Comment:
Dear traders,
In Ethereum we see also a head and shoulders. Neckline was broken and is re-testing. In Bitcoin the beckline pierced it bu came back. Patience because it is a tough resistanse but it will probably happen.
Lower targets also for ETH toward the last low. And the rest of the market more or less the same with exception of some pumped and dumped coins (BEAM).
In Ethereum we see also a head and shoulders. Neckline was broken and is re-testing. In Bitcoin the beckline pierced it bu came back. Patience because it is a tough resistanse but it will probably happen.
Lower targets also for ETH toward the last low. And the rest of the market more or less the same with exception of some pumped and dumped coins (BEAM).
Comment:
Dear traders,
I see the trendline break rather sooner then later. The RSI is also turning very negative. Another thing what is not bullish is that the market is steady going lower without panic. Looks like everybody is expecting this and therefore no panic. Wath out for panic because it can signal a temporarely or even a longer term bottom if it happens around 30000. If however there is still no heavy volume I expect to decline even more. Too early to say right now. We are following it ;-)
Good luck guys!
I see the trendline break rather sooner then later. The RSI is also turning very negative. Another thing what is not bullish is that the market is steady going lower without panic. Looks like everybody is expecting this and therefore no panic. Wath out for panic because it can signal a temporarely or even a longer term bottom if it happens around 30000. If however there is still no heavy volume I expect to decline even more. Too early to say right now. We are following it ;-)
Good luck guys!
Comment:
Traders, do you think long term support has been broken?
Not yet and here is why.
Not yet and here is why.
Traders this is a hypothese, it can happen but it is not sure! Only breaks of the levels and the patterns will guide you like a GPS.
Safeguarding your funds in this market which declined so much and on the weekly timeframe looks very bearish is always good. Fomo is not good and will lead often to losses. The market is here always so no need to run behind the prices. Just my idea;-)
Good luck and trade safe!