Very easy to understand.
We had a correction that will be lower than the others. It lacks one leg down and then up again to mid 9'ties.
Look at the Long/shorts ratio (in the top) and you will see longs are to high and need some squeeze to be healthy again.
BTC have been amazing all year long, but now I see signs of an over-extended pattern in the medium term.
All my indicators make me think it will retract soon. And this time, might be more than the usual retractions we got used to.
The TD Sequential Indicator has a peculiar moment where we are completely align in 3 of the most accurate time frames...
BTC is in a big correction and my analysis points to 5000 - 4900 area to make a reverse.
The blue area is where it will touch also the bottom of the long old trend we were following from the beginning of the year. This makes it a strong area.
Continuing the idea from yesterday...
As long as we are inside this channel (yellow lines) and not go up, we are still in the SHORT trade.
Look out for Fibonacci resistance at 6430. That is the 1st zone for a reversal.
NOTE: As always, this is not financial advice. it's only my opinion and analysis.
Accordingly to the TD Sequential Setup Indicator we are almost there to SHORT it.
Looking at 4h chart we might have 8 more hours until a 9th candle from Daily time frame syncs with 4 hour time frame. And then I expect to go down from 1 to 4 days.
Take care and pick the sweet spot of reverse, because then we'll going up fast until hard-fork around 16h...
IMPORTANT NOTE: This is only my opinion. If you follow this and loose money it's your decision, not mine. Nor any sort of financial advise.
BTC is going to a set of decisive hours. If we break below the red line we can make a ride to 4900 again. That line is exactly crossing the 50 EMoving Average which reinforces it.
If we bounce on the red line, we may be going...
Were going to another ride up until around 5000.
And then i don't see we making double top. Double tops happen more when we are making small retractions, not the big one we had.
So, it will have some resistance and them break it to the upside.
DECRED (DCR) is in a perfect buy right now. Wait for 7 to 10 days and it can go up 38%.
After a down from 9 consecutive candles. It's the sign I was waiting.
This is only my opinion, this is not financial advise.
Never invest without making your due diligence.