Cup-and-handle formation in cup-and-handle formation, in short, short corn.
I noticed that btc could not break 11k and 13k resistances. if not, thrend is down.
So lets look at down side of chart by inverse view.
I see cup-and-handle formations like matryoshka dolls as shown on my chart.
Anyway we can seenew lower lows within next weeks.
if you decided to...
These days are very dangerous for bulls. There have been several bulltraps as seen on chart. I think the third one is comming or being cooked. Anyway it will give us opportunity to short at his top (3.550$).
If you agree, like my chart.
Last 1k dump really made me sick and bearish.
I counted correction waves of 2014 crash and i see a lot of similarities within current btc crash waves.
My suggestion that we are currently in C wave of ABC correction.
I thing my wave count for 2014 crash is OK. The ratios of waves to each other are almost ideal. And similar wave count and pattern...
i have a bad news for you all.
Whales collected cheap btc in the chop zone, and then selling them at the top nowadays.
As seen clearly, price is increasing but volume is decreasing. What does this mean? Answer is simple, back to the chop zone.
BTC has reached critical barrier on Daily RSI. This means pullback is near. (Yellow circles on the chart)
However, i concern low volume profile during this breakout. Volume of this breakout is more similar to volume profiles of before breakdowns, unlike to breakout come with mini moon in July (Red lines).
In short, short :)