I feel the need to elaborate on prior posts of late regarding the downward trend, so here they are.
Price action is weak for BTC, the stock market is taking a beating and we are yet to see true capitulation in stocks so there is more downside to come for sure. Following on, Real estate sales are finally adjusting for rates and we should begin slowly to see the housing price bubble pop as the year ends.
China's real estate market alone is IMO a black swan event waiting to happen, not to mention Taiwan (a matter of when, not if).
Blackrock CEO selling large amounts of company stocks, Burry selling all his hedge funds stock.... The writing is on the wall for bulls, there IS NOTHING bullish to look forward to aside from filling your bags when markets hit rock bottom.
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REGARDING THE ABOVE CHART
12th September is lined out - because CME ETH derivates launch, from prior knowledge and logic this is a bearish day, another avenue for big money dump price and short retail more than likely.
We have an important FED speech in about 24hours - price will likely fall into the meeting as usual, uncertainty leads to bearish movement. SO if price is to hit the 22-22.5k fake out target it should happen within 12hours no longer.
18.5-19.3k is the next support area but that is unlikely to be more than a brief pit-stop on the way to 16k where the money is for MM to rekt all the 20k buyers... this will result in a big buying event as 20k buyers sell in fear of 10k coming.
I am of the opinion we bounce on 16k back to 20-22k until 12th Sept, so i will be waiting/attempting a long if price looks to find a bottom in the 16-16.8k area.
Technicals Indicators support such a move as they are stilling low for the 12H but also still not yet ready for a massive move below 16/17k, September historically ends massively red so by mid of September (12th ish) we should see the drop coming.
For Traders,
Low leverage shorts right now are an easy trade, keep SL above 22.8k are you are good to go.
18.5-19.3k initial TP line
16/17k the next stop, and once price holds close 70%. IN THE EVENT PRICE is not STRONGLY holding 16k, keep 30% open if we are to fall through... just unlikely at present.
GOODLUCK TRADERS.
and remember
BULLS MAKE MONEY, BEARS MAKE MONEY, PIGS GET SLAUGHTERED.
Goodluck,
Asset Mastery
Price action is weak for BTC, the stock market is taking a beating and we are yet to see true capitulation in stocks so there is more downside to come for sure. Following on, Real estate sales are finally adjusting for rates and we should begin slowly to see the housing price bubble pop as the year ends.
China's real estate market alone is IMO a black swan event waiting to happen, not to mention Taiwan (a matter of when, not if).
Blackrock CEO selling large amounts of company stocks, Burry selling all his hedge funds stock.... The writing is on the wall for bulls, there IS NOTHING bullish to look forward to aside from filling your bags when markets hit rock bottom.
-------------------------------------------------------------------------------------------------------------------------------------------------------
REGARDING THE ABOVE CHART
12th September is lined out - because CME ETH derivates launch, from prior knowledge and logic this is a bearish day, another avenue for big money dump price and short retail more than likely.
We have an important FED speech in about 24hours - price will likely fall into the meeting as usual, uncertainty leads to bearish movement. SO if price is to hit the 22-22.5k fake out target it should happen within 12hours no longer.
18.5-19.3k is the next support area but that is unlikely to be more than a brief pit-stop on the way to 16k where the money is for MM to rekt all the 20k buyers... this will result in a big buying event as 20k buyers sell in fear of 10k coming.
I am of the opinion we bounce on 16k back to 20-22k until 12th Sept, so i will be waiting/attempting a long if price looks to find a bottom in the 16-16.8k area.
Technicals Indicators support such a move as they are stilling low for the 12H but also still not yet ready for a massive move below 16/17k, September historically ends massively red so by mid of September (12th ish) we should see the drop coming.
For Traders,
Low leverage shorts right now are an easy trade, keep SL above 22.8k are you are good to go.
18.5-19.3k initial TP line
16/17k the next stop, and once price holds close 70%. IN THE EVENT PRICE is not STRONGLY holding 16k, keep 30% open if we are to fall through... just unlikely at present.
GOODLUCK TRADERS.
and remember
BULLS MAKE MONEY, BEARS MAKE MONEY, PIGS GET SLAUGHTERED.
Goodluck,
Asset Mastery
