Ichimoku shows that the trend is bearish on 4hr chart
Fractals on higher timeframe on the daily match with previous bubble cycles, there is still LOTS of downside possible, below 6000 is certainly a possibility
To add on some things to go along with bearish case, since bitcoin is like a social network (more users, more activity = more growth)
Levels to watch and current situation:
Watch for support near 9000, will pretty much decide the trend going forward
Short time frame: Bitcoin is in a short, trading below cloud on hourly
Longer time frame: Bitcoin is neutral, long term investors should wait for a higher % trade with more upside.
90% recovery in 12 days is ridiculous, bulls are really stretching bitcoin thin here, there will not be any support if a engulfing candle appears.
Bitcoin is trading below the cloud on the daily, no reason to add or start a position on longer timeframe
Just trying to put things into perspective, patience will be rewarded
Bitcoin has had a record breaking year, but is close to coming to an end soon.
Charted are all the instances of bitcoin going 100% over this year, I will post down here as well
750 -> 1500 took 111 days
1500 -> 3000 took 94 days
3000 -> 6000 took 76 days
6000 -> 12000 took 47 days
10000-> 20000 took 19 days
12000-> 24000 takes ?? days
Watching for bearish divergence on BTCUSD
Marked are levels to confirm or invalidate the move
Now: Sell at own discretion at current price 4363
Near future: Buy 3950-4050, watch for bounce 4200 level
This post is a follow up from last, where I marked level to sell at, I sold this portion of my stack at 4350.
DO NOT SELL FULL STACK. This move should only be...