*** Hunting the stop losses at 11K ***
Look at how BTC did in 2018 from 20K to 3.2K. Very similar to what is happening right now. First it crashed to $6,200, consolidated for a while, then crashed again to $3,200.
Today, BTC also crashes from $13,000 to $9,700, consolidates for a while, then crashes to $7,700.
After the massive parabolic rise we had in 2013, 2017 and 2019, it crashed to the 21 daily EMA, then bounced, and then went below it. The 21 daily EMA became resistance. It is very fascinating pattern. That is why I am almost 80% convinced that Bitcoin is gonna drop lower.
Protect your money and good luck.
***Disclaimer: This is a technical analysis not a...
One last rally to 11.4K or maybe 12K. It has been confirmed to go up (see image below).
Here is my setup for this trade.
Long position: 10,350
***Disclaimer: This is a technical analysis not a financial advice.
We all know that the 200 weekly SMA is very important. It has never been broken in so many years (The yellow line shown in image below)
As I mentioned in the previous post. BTC has to touch this line again as the support.
So, here is what I see how BTC is going...
Let's step back and see the whole picture. Well, I see we are at wave 4 and we are getting ready for wave 5 which could take us to 20K.
Be careful, there is an ascending triangle which I mentioned before. I will leave you a link below. This triangle could take us down to 4.7K.
Protect your money. Good...