Hello friends. Today, I would like to give an update on BTC. I got used to watching the chart from the daily, 4-hour, 1-hour timeframe perspective that I didn't pay enough attention to the weekly timeframe. Before, I thought the price would fill the FVG on 22 400 and then move down. But after seeing what's happening on weekly TF I don't think it will happen. You may ask why. Well, first of all, we got a bearish engulfing and another huge bearish candle with no wick. The second reason is, that the BTC dominance fell hard and it's approaching the bullish OB and it should shoot up from there if BTC loses the 19k support level. The third reason is, that September is the worst month for equities and BTC in particular, everyone knows that and wants to exit their positions on the bounce up. I'm not even talking about the FED, potential ETH merge problems, and MT. Gox FUD etc. And lastly, everyone is holding their "strong" altcoins, most of them made at least 2x from the bottom. The manipulator won't give them a chance to sell at breakeven or even gain some profit. I did predict that in my previous analysis, however, got influenced by that 22 400 idea from other traders and made a bad call. The moral of the story is I won't listen to other "traders" and from now on work only with my own trading system. You can check this idea here.
