Strong Rejection from the Upper Resistance trendline Reconfirms DEscending Downtrend of Bitcoi/usdt.
Projected Support Intersection at 7,500.
Fundamental conditions are the root causes of the continuing bitcoin plunge
1 FED Rate Hikes cause strong Risk aversion of Institutionals and Investors, and rotation into Dollar Cash.
2 Continuing wave of BAnkrupcies of...
DESPITE Low Time-frame oscillations bitcoin is globally affirming (again) its Daily DOWN-TREND.
This week Rates will be HIKED by the FED again .... Act Accordingly
Brace YOURSELF !!! Now 140,000 bitcoins are starting to be DUMPED on the Market from Lquidation of Mt. Goz confiscated wallets.
The owners of these HUNDRED-FORTY-THOUSAND BITCOINS have waited for...
Last Time The National Home Builders Index Dropped repeatedly - The 2008 Market CRASH and Deep Recession happened right after.
And Now It has Dropped Sharpest in its History.
The Canary is the Builder sentiment - Dropped to 55, a drop of 12 points.
This is the largest single-month drop ever, with one exception. The exception being April 2020. As you may recall,...
The White ascending line IS AN ILLUSION
Illusion that is very PROFITABLE FOR MARKET_MAKERS and PONZI OWNERS
So Today THEY PUMPED and DUMPED and PUMPED again - JUST TRYING SO HARD TO KEEP
THE " MATRIX " PRICE of Bitcoin from being seen for what it REALLY IS.
These Hard Pump and Dump are only PROOF OF CONTINUING CRASH - and continuing Illusion Making
The Bitcoin Price Action is confirming UNRELENTING DROPPING TREND.
Even the a ARTIFICIAL Pumping up on Saturday cannot change the DELEVERAGING PROCESS.
The Institutionals are DELEVERAGING in RAPID sequence of LARGE SELLOFFS.
All the rest are FORCED TO SELL by these Institutional sellofs - in particular, THE MINERS are DUMPING their product, before it...
A well confirmed DESCENDING CHANNEL is continuing consistently on the 1 hour , as well as on the 4 Hour TF-s.
As the price HAS BEEN REJECTED on the upper Resistance trendline , the price proceeds to the LOWER Support Trendline.
The Closest Intersection with the Lower Trendline will be at about 18,675 and lower price.
THE TREND IS YOUR FRIEND - THE FIRST GOLDEN RULE AT THE FOUNDATION OF TECHNICAL ANALYSIS.
A Multi Month parallel channel from December 2021 is PERFECTLY confirmed by Price Action; The NEXT INTERSECTION with The Lower Support Trendline
Is IN THE PRICE CENTERED ON 5,100 dollar per Bitcoin.
In full agreement with the previous bottom at 3500 ADJUSTED for...
A BEAUTIFUL, CLASSICAL Double Top in BTCUSD - thsi is a STRONG Bearish formation has been completed on 4 H and 8 H time frames.
As the Markets of Nasdaq and S&P will continue the fall today - a VERY GOOD OPPORTUNITY for SHORTING bItcoin TODAY.
Gentlemen - THIS IS serious.
The major lower Supporting trendline has been crossed down by BTC.
As well as final Departure lower from a 240 hours MA.
Next support - possibly 20,000 $
As the famous song on Jericho walls "and the Walls came TUMBLING DOWN"