So I was testing something last night and found this interesting similarity in BTC chart. If we compare February 2020 and Today's Daily chart of BTCUSDT we can find the following similarities:
Position of 50/200MA forming a curvature representing a fake bull trap.
Green colored arch extending from sideways market to local ATH, exactly makes 75 bars.
Lowest RSI position was at 29, in recent scenario it was 32.
Trend angle from 2020 ATH to crash was 19 Degrees, right not it is 20 Degrees. (Indicating a slight push is imminent till 51k)
In 2020 Daily RSI went to 74 maximum, which is at 69.7 already.
RSI divergence and curvature of 3 days is identical.
In 2020, from activation to ATH consisted of duration of 43 days. Today we are already at 34th day.
In 2020, BTC crashed from 10k level to 3k level indicating a correction of 64.56%.
In recent day, even if you put Global ATH and range 64.56% from there, it will validate both of my 26k and 27k easily.
Volume profiling is almost identical.
FINAL VERDICT Took me hours to identify it, I am not an analyst to base everything on historical data, but at some point you have to look back and see how an asset behaves in certain condition. From yesterday we have seen BTC struggled around $49,800 mark then it took a good swing and burst through $50,000 mark. I am still 50% sure it will touch $51,089 mark before taking a considerable correction towards $45,000 and $42,000 region.
MESSAGE FOR HODLERS You can sell your short term holdings or profits 50% at current level and 50% at $51,000 level. Then wait to buy at lower levels again.
I don't understand what makes you so obsess about #BTC Dump, you have been trying this since 2/3 months, first you confirmed the dump at 26-25 with so confident that people even short the btc and are still in the same position, feeling sorry for them. Later 35k and again there you are, I would like to suggest you, pls stop trying to script the market
ShoaybKhan
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@hashir_Sheikh9, Lol you are coming here and commenting on my TA shows who is obsessed with whom.
hashir_Sheikh9
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@ShoaybKhan, okay... Will come back to check your T.A again, once it failed ..Good luck until then 🙂🙏
ShoaybKhan
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@hashir_Sheikh9, hope you are still out there grinding on your liquidity lol
@hashir_Sheikh9, "pls stop trying to script the market" golden words
nzaidicrypto
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Hi once again Amazing work @ShoaybKhan , but in March 2020 it was a one off black swan event.
What you think it will Triger such a massive sell off now ?
best regards
ShoaybKhan
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@nzaidicrypto, I am 50% sure of it. I would say Crypto faced BSE in 2013, 2020 was just a 10% of it. Things aren't looking so good at the moment. Let's hope for the best