mycotoxin

BTC Potential drop ahead in 2 to 7 hours time

BITTREX:BTCUSDT   Bitcoin / Tether
867 14 6
Perhaps I have my bear cap on to tight and am affected by poor blood circulation issues, However im observing some things in the graph which lead me to suspect we may have a BTC             dip coming in the next 2 to 7 hours.

signs indicating a potential drop are:

1)First we we have hit the 11455 reversal line and have not gone past it .
2) BTC             has not accounted for one of the candles drops which was at 10700. This drop has been mysteriously skipped but we should have dropped to this level.
3) The 4 market shows a reversal candle on top of the uptrend. The candle is a "shooting star" formation which signals a trend reversal is near.
4) we have hit a double top . Double tops retreat in the opposite direction downwards .
5) The TD             indicator on the last candle is a showing a # 7 . Reaching A # 9 on TD             indicator indicates a pullback and in between 2 to 7 hours time we may see this BTC             pullback play out.


The one thing that looks odd amongst this rukus is the RSI still appears positive.

How far can we drop ? we may touch the upper 9 area or upper 8k areas.
NOTE: If the remaining 4 hour candles can close above the 6 hour candle ( the shooting star ) this will invalidate all the above and BTC             will continue upwards.
Comment: in about 4 hours we may begin the descent,
Comment: BTC is faking that its going up . Its a Bull trap
Comment: 4 hours is now up we could see a slow descent at this point .
Comment: Bitcoin gets past 11544 then the drop is invalid and its not going down but will move upwards .
Comment: Whats really bugging me is what has happened to that 10700 drop ?

My calculations show there should have been a drop to around 10700/10600 many hours ago .

Im wondering where has this drop gone ? Is it delayed at the airport ? Is it having breakfast at the local restaurant ? Is it on vacation?
Comment: Note: In a Bull market coin movements to targets usually only take a few hours or minutes to execute; However in a Bear such as this one the coin the coin movements will now be stretched out to occur over many hours and even days .
Comment: once BTC bounces off the 9K area , Im expecting we will then see a move to the 14k area
Comment: BTC has to at the minimum account for the missing 10700 value that was skipped by hitting this value.
Comment: Note: none of this is meant to be trading advice so follow at your own risk.
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The area to buy BTC back during this drop is starting at the the 96xx area . This area 96xx will also be the first major drop area.

Should 96xx fail to hold , we can drop lower to the 85xx area which will be another good spot to buy BTC back . I don't see BTC going any lower than these levels at this time. we can then leave BTC long and move up to the 13k area.
Comment: The missing 10700 value has now been hit and accounted for .
Comment: The drop to the 9k area is on hold for the moment ( about 7 days ) as BTC is moving to 14k first

Comment: took a few days but we should see 96xx then move back up .
Note: In a Bull market coin movements to targets usually only take a few hours or minutes to execute; However in a Bear such as this one the coin the coin movements will now be stretched out to occur over many hours and even days .
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Getting pretty tight in that ascending wedge...
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@mycotoxin , how can you be so sure?
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meryem_19 meryem_19
@mycotoxin direction can be up???
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mycotoxin meryem_19
@meryem_19 Great point , yes the direction could be an up move also , im double checking
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meryem_19 mycotoxin
@mycotoxin, I did not understand your answer??
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mycotoxin meryem_19
@meryem_19, @meryem_19, calculating the distance the next few moves will be for the coins returns some values .
But it does not say which direction the values will be move in so they can be either upwards or downwards. Sometimes the RSI , or indicators give you a clue or there are things like the candle formations which give you a hint . but in this case there were a few things indicating that there will be a downward movement coming up .

if BTC can get above 11519 that will invalidate the reversal candle and it can continue up .

Reply
meryem_19 mycotoxin
@mycotoxin, thank you very much.I hope you're right
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mycotoxin meryem_19
@meryem_19, Yes BTC is faking that its going up . Its looking like a Bull trap
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meryem_19 mycotoxin
@mycotoxin, I did not understand your answer soory
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