After weeks talking about the latest pump, the time has finally come, this uptrend is done. Alts market is definitely weak which is a good indicator of the pressure health. Alts had an excellent month during April, the overall sentiment is just about to change, have a look at the Total Market Cap and see how close is the trendline that gave support to the whole bullish era from 2015.
I´m not saying that we are going straight to the hell, in fact I will start talking soon about how and where I see the next rally, but that is going to be later. Unless suddenly a miracle happen, the direction for the coming weeks is already defined. As I see the situation, the price has printed a text book ABCDE which is done with the final wave D, that´s the kind of confirmation pattern that I was waiting for to be confident about it. We are flirting with a mega huge resistance created in 2017, anyone thinking that this is going to 10k without a heavy decline first, is completely out of his mind.
One could stay comparing other rallies and talking about the possibilities of a continuation of the rally, but as a trader you need to be defined an react before things happen, I mean forecasting that there is a few ways it doesn´t help you to make money. Planning your trades and trading your plan it does.
This is just a quick update, I´ll publish a new analysis during this week once we start seeing some action. As always thanks for your support, I really appreciate it. Join us in Telegram to receive daily signals and updates and don´t forget to follow me and like this chart if you agree in my vision of Bitcoin :)
I´m not saying that we are going straight to the hell, in fact I will start talking soon about how and where I see the next rally, but that is going to be later. Unless suddenly a miracle happen, the direction for the coming weeks is already defined. As I see the situation, the price has printed a text book ABCDE which is done with the final wave D, that´s the kind of confirmation pattern that I was waiting for to be confident about it. We are flirting with a mega huge resistance created in 2017, anyone thinking that this is going to 10k without a heavy decline first, is completely out of his mind.
One could stay comparing other rallies and talking about the possibilities of a continuation of the rally, but as a trader you need to be defined an react before things happen, I mean forecasting that there is a few ways it doesn´t help you to make money. Planning your trades and trading your plan it does.
This is just a quick update, I´ll publish a new analysis during this week once we start seeing some action. As always thanks for your support, I really appreciate it. Join us in Telegram to receive daily signals and updates and don´t forget to follow me and like this chart if you agree in my vision of Bitcoin :)
Comment:
Guys I´ve been a bit away from trading view and I just focused on trading and my channel. My forecast failed and I called to close the short trade at $6180 and being just in Bitcoin. After 6500 I called a big breakout which already happened so my users and me long a bit on the uptrend. We continue day trading Bitcoin and just today I´ll send a new signal that looks quite good. I´ll publish another chart very soon in just a few days, I´m working on my new website while I analysing, trading and following up my group.