Skyrex

Bitcoin - 5 magic bullets will stop this trend

Short
BINANCE:BTCUSDT   Bitcoin / TetherUS
Hello, everyone!

It's time to talk about the potential reverse warning because we have all 5 factors which can stop the uptrend according to the Trading Chaos methodology. These factors are following:

  • Target area of wave 5. We have the extended wave 3 obviously. That's why we have to measure the wave 5 target as from 1 to 1.61 Fibonacci ratios multiplied be wave 1 length.
  • Squat bar at the top. Here we have even 2 squat bars which makes me super confident in the potential trend end.
  • Divergence with Awesome Oscillator. This is the most important factor that we have the divergence between wave 3 and 5. It's the most powerful signal.
  • Decreasing momentum. We have 2 red columns on AO.
  • Fractal at the top.

I have not seen such perfect bearish setup for a long time. Let's see if it is going to play out.

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