LaszloCryptoTrader

BTC Possible Reversal

Short
BINANCE:BTCUSDT   Bitcoin / TetherUS
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5
BTC has been trading in an ascending broadening wedge formation in addition to showing RSI divergence on the hourly chart. These are mostly bearish signs. ABW suggests the dip will be at least down to 9660.
In addition, BTC completed a perfected 9 TD sequential formation yesterday.
Let's see how deep the rabbit hole goes.
Comment: Or not yet. :)

Comments

Unfortunately it’s surely reversal, the First target is 9200$
The Second T is 8700$
And if it doesn’t get support, will return at the green buy zone , at the $6-6.5k ..
But of course there are some resistance to stop falling,but the mentally atmosphere of losing capital , helps a lot to fall more ...
Reply
Flangler alireza87sabzalian
@alireza87sabzalian, We just broke the most important resistanceses in BTC history and you think it will reverse just like that?
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@Flangler, agrred. BItcoin is not heading south of 10500 anytime soon, if ever agan!
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LaszloCryptoTrader UnknownUnicorn8089653
@UnknownUnicorn8089653, You'll see that if Trump will lose in November and all the Trump-bots rally against a democratic president, they'll start spewing dirt at the new government for the disastrous economy. Even though it was them who ruined it. Once the media will be allowed to report the actual state of economy, there will be a massive crash in the stock market as we've never seen before, pulling BTC down with it to low 2000's. BTC doesn't care for SPX moves below 8-10%, but follows any massive moves, above. So a stock market crash WILL result in BTC dump eventually. Why bother buying now for 4 times the price when everyone FOMO, rather buy when everyone FUD. If you look at the weekly chart, the volume hasn't jumped considerably. This may be the beginning of a bull run, but might as well be just another pump and dump the week before the August Recess of Congress. When August comes and the new stimulus checks will not be ready yet, people will start massively dumping to pay for necessities.
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@Flangler, 10500 is the new support
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LaszloCryptoTrader UnknownUnicorn8089653
@UnknownUnicorn8089653, BTC could do a Bart Simpson anytime soon. Worst thing is, when it happens, it happens in minutes.
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UnknownUnicorn8089653 LaszloCryptoTrader
@LaszloCryptoTrader, possible yes but highly unlikely IMO. The way BTC smashed through 10500 yesterday. This is just a healthy retracement for another run
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