In my former posts I constantly mentioned that BTC is still above of its secular bull trendline in log scale. Log scale is a must for clear and strong trend-following assets. When an asset is in a secular bull, it means general bullish market conditions. General bullish market condition means short and relatively small corrections, quick recovery with a new ATH...
Harmonics is a confirmed sell for BTC. It means, we eyewitness a new distribution phase again. Short-term indicators show still some room for a rise, but I don't see a large rise will push BTC above of ATH. I rather forecast a double top and then a correction to prior strong negotiation levels. BTC will stop there for a while as traders will find support on those...
Bitcoin BTC is still a confirmed sell on harmonics. BTC is still overbought and odds are pretty high to see a narrow range move. The price negotiation after the ground-shake is still in process and I feel the negotiation will finish with an institutional decision on the long side. However, long side continuation decision means a short-term shock, deep-buy but...
BTC produced a right translated W-shape recovery pattern. This is a longer-term bullish signal. However, harmonics signals overbought short-term conditions, also a confirmed sell signal. One more dive is still there, but then, odds are pretty high seeing BTC to start its way up. The only bearish signal is a HS formation. Was produced in the last few months. That...
Harmonics is a short-term buy with no long-term confirmation. BTC forms a possible HS. We need to wait in order to see the translation of the HS formation. As the secular bull trendline is still intact, odds are pretty high seeing a right translated HS meaning a bullish continuation in longer-term.