#BTCUPDATE - 10.5.21
Be on high alert over the next 24-48 hours.
We are right at the end of this consolidation cycle of a very bearish pattern.
There has been another bearish divergence printed on the last rejection also. Stablecoin holding are 40%+ up on last month too, showing a distinct increase in expectation of a market drop.
Unless we break $59k and hold then it is going to be a bit of a cliff drop to $55.5k region where the longer term trend line sits along with the Daily 50EMA. Losing that then it will be further drop to $52k.
This is not a FUD post but limit positions, take a a wedge of profit from HODL's with preparation to re-invest. Bots again will be fine and load up on SO's (any overextended bots - then you have been warned!!!) it is not a black swan warning just a pretty healthy retrace with a strong bounce expected.
Be on high alert over the next 24-48 hours.
We are right at the end of this consolidation cycle of a very bearish pattern.
There has been another bearish divergence printed on the last rejection also. Stablecoin holding are 40%+ up on last month too, showing a distinct increase in expectation of a market drop.
Unless we break $59k and hold then it is going to be a bit of a cliff drop to $55.5k region where the longer term trend line sits along with the Daily 50EMA. Losing that then it will be further drop to $52k.
This is not a FUD post but limit positions, take a a wedge of profit from HODL's with preparation to re-invest. Bots again will be fine and load up on SO's (any overextended bots - then you have been warned!!!) it is not a black swan warning just a pretty healthy retrace with a strong bounce expected.
