Total2 was rejected by multiple long term resistances and the weekly ichimoku cloud. Last time Total2 was rejected by the same descending triangle resistance, it fell more than 50%. A similar drop can be expected but this time it can break out of the triangle to fill the daily candle gap at 14 billion. This represents around a 90% drop in Alts market cap. It means...
Dropped out of the ascending blue channel was supported by the Ichimoku cloud, retested blue channel. RSI falling wedge points further downside.
the chart is 100% inversely bullish. Dont look at the shapes and indicators on my chart, anyone with even zero knowledge of TA can understand they are wrong. Ánd usually people with zero understanding of TA remind me and correct me, which I appreciate too much for their educated attention. kuku.
the word Alts will be a reference to the coins that died during the next Alts extinction event. The few surviving Alts will be called something else. BTC.D still within an ascending triangle with volume dropping. It will consolidate on the triangle support for a while giving hopium to the shitcoiners.
I am advising you not to short but I am not a financial adviser, so don't believe me. Watch these lines!
A midterm resistance turned support acting as the base of a triangle. Breakout of these will result in large moves away from the current monthly consolidation zone. My macro bias is bearish because of the breakout and retest of the blue trendline.
I noticed a correlation of tops and bottom in TUSDUSDT pair with that of BTC. I use a regression channel to detrend TUSDUSDT and invert the price to match tops with BTC tops and Bottoms with BTC bottoms. Currently it gives a bottom signal which means a long entry.
Rejected from the descending trendline for the third time. heading to the triangle's support. Price action is becoming more bearish but price still not out of the consolidation zone.
I identified three patterns that price action was respecting early June. Price is still within these patterns and now printing a head and shoulders. The breakdown from the midterm diagonal support is bearish as well as rejection from the patterns resistances. Head and shoulders target is 7828.
Retest and rejection at confluence of resistances with bearish divergence. Last change to unload before it goes to zero.
and falling down a gann fan. Rejection at the current resistance of the triangle and the red gann line will print a hidden bearish divergence. Price rejection should be confirmed by the daily candle close. Although price has moved by 6% in last 2 days, volume is not significant or indicative of a breakout. I expect price to stay within the triangle till the end...
Actually going down,no volume to push it above 4.4 resistance as volume is dropping. RSI in a decending triangle. Ichi twist can attract price action to it.
Contrary to some TA that claim that BTC broke over the trendline resistance. it is still within a triangle. Volume is not significant as well to signal a breakout.
BTC price action has been mind numbingly slow recently and consolidating in ever narrowing range. The Bollinger band width (BBW) is at recent lows. Previously when it hit these levels there was very big moves in either direction. Yet, BBW can even go lower to pre April 1st 2019 levels. So in the most extreme case, if we fit longest possible triangle to the price...
Don't believe one word of the bulls, whales have been unloading their bags and the youtube moonies have been hyping a pump and helping them. It is all clear in the VFI, price action is in a big distribution phase. The pump from the march dump was 100% corrective while the march dump was 100% impulsive 5 wave structure with an extended 3 wave and a hyper impulsive...
Setting lower highs and lower lows, printing a hidden bearish divergence and testing support at 9360 for the third time with low volume, price action has weakened. The likely trajectory is a loss of support again and testing the 9k support again.
Future price dropped below key resistance at 9350, only to form a bullish divergence and reverse back over the resistance. Support of price by the 9350 resistance will confirm continuation to most probably 10K level completing a W pattern and retesting the ascending channel.