Death cross incoming, we are still in a bear market until we cross $14,000. With that being said, looking to go all in at 200 week MA around $5,000. Small buy target around $6,500 area. Overall, expecting a nice drop soon hopefully to the 200 week MA and hope that bounces us hard again out of this bear market and to new all time highs in 2020. Remember Bitcoin...
BTC has tested setup trendline support on the 4 hour at 7550 many times now and a lot of longs have been opened around that area. I don't think the area will hold if we go back down there, every time support gets hit it gets weaker. I expect us to breakdown soon.
Furthermore, I am not sure if the breakdown will be a quick drop to 7100-7300 area just to liquidate...
TD Sequential on a weekly 9 and 3D on a weekly 9. I expect a pullback to 4600-4900 over the next few weeks. In addition, Stoch RSI on weekly has been at 100 for weeks now and needs to cool off.
A really good trade would be to short the 200 day MA, or buy the 200 week MA. Short term we are just stuck between the 200 week MA and the 200 day MA, anything could happen between these so be loose on your stops because as we have seen bears and bulls both got their stops hit last week on that quick pump to 3900 and dump to 3750. Midterm I am bearish still, I...
Bulls have tested 6800 area 6 times since June 18th, I think if we head back up there and the head and shoulders pattern plays out then we will break up towards 7000 area. Maybe consolidate around then and move up giving the resistance time to come down. The 200 MA is moving down and we fell out of the sky last time we touched 200 MA, also the 30 week MA is...
If the head and shoulders doesn't play out and take us on a rally to resistance at 6800 with a strong break through it which isn't looking likely at the moment, this is the bearish scenario for Bitcoin. I could see a bounce around support at 4900-5000 area possibly getting us back to test 6000 which will be support turned into resistance at that time. If we fail...
Bitcoin is currently surviving and same can be said for vibe, vibe is hanging tight near 30 RSI on the daily. Bears are under pressure if they can't get vibe below 1400 satoshi, bulls should step in and get the platform pump rolling within the next few days. Having said that if vibe breaks 1400 satoshi, i will be taking 50 percent of my position out of vibe, lower...
Vibe has been in a major downfall lately due to bitcoin dropping, vibe team being late on announcements,no major artist, lack of liquidity and no new exchanges, etc. Vibe releasing a platform on all major devices, smartphones, ipads, computers, is huge. The platform is reported to have a lot of content on it including games, singers, a poker star, dancers,...
