WIll bitcoin drop to 0 ? Government crackdown?
- S/R Flipped - Lower range sweep - Huge buying interest (volume) - target range high
1. testing ath 2. rsi divergence (dump) 3. volume + acceleration declining 4. bitcoin will drop most likely aswell, since those two pairs are correlated (Btc couldnt pass ath today)
we just had a gain about 92%. many bottom shorters got liquidated. now its time to liquidate fomo longers.
based on current fibonacci extension levels we might see a drop to 2000-1800 levels. compared to the 2008 recession this could be the best chance to step into the market.
Bitcoin hits resistance on daily chart. Good R/R here.
will spx move like recession 2008? seems reasonable.
what will happen this time? will btc drop? good chance for a nice trade short right there.
On the macro perspective btc should retest 1200$ levels. Economy is looking like trash and btc is following the huge indices like DJI.
btc since 14 february in a short trend. didnt cross above natural belief zone (blue line). probably dropping more till 7000.
bad coronavirus news provide liquidity. nasdaq is just moving parabolic as bitcoin. we could expect like a 10% drop before nasdaq exit pumps and dumps the shit out of us. thanks for watching. love u all.
one idea how market makers want to accumulate cheap btc before halving.
Short: - Price dropped below Kijunline - Price crossed the Cloud (turned bearish) - Laggingspan leaving cloud