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algoquantix
Nov 15, 2022 8:07 AM

WARNING - BTC is showing a bearish wickoff Short

Bitcoin / TetherUSBinance

Description

just a heads up, as ive long predicted BTC to head down lower towards the $13000 level before ending its short leg, dont buy now, wait!! we have a big bearish wickoff pattern, this indicates price is likely to fail shortly on the long side and continue going lower, wickoff patterns are used to trap buyer/sellers into believing theres an imminent breakout in the direction of the bullish price spike, but the opposite actually happens.

if you are going long, run a tight stop for the time being!
Comments
wYkeho
you have no idea...
Tradersweekly
Thanks for the content.
algoquantix
@Tradersweekly, also the bullish volume is declining and failing to break above the bearish volume at present. if that helps mate.
algoquantix
though the price tested higher, the bar closed in indecision and bulls lost to bears, so its not a "feeler candle"
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