If you are afraid to buy bitcoin right now. Don't be.
Whilest we are below 200 daily, 21 weekly, and Total crypto death cross in imminent.
You will not win by shorting here. The death cross is a false signal because the 200 in rising.
We have 4 hr bullish Divergence on all indicators.
We have daily Bullish divergence on MACD
We are being held up by a trend...
As above so below.
Nothing goes ever straight up or down.
We are in a possible medium term bounce zone. Bull market still intact, as we stopped right at the 200 daily MA.
We are also stopping at the .50 retracement from low to high 3k-14k.
This is also the heart line of the downward channel from 14k.
Oversold on daily
15m just broke above emas
We may have...
I feel like I don't need to post anything because it's pretty obvious what bitcoin is doing...
Bull trap after bull trap after bull trap.
I think if you are getting trapped in longs here you should not trade crypto, you're way too easy to steal from.
Amazingly people are still uber bullish. As we continue in a DESCENDING TRIANGLE,
at the top of what looks...
We just broke a downward triangle. But this baby has 3 levels.
A bounce from the low to the .5 fib would be ~ 9800. Short here for further profits.
4 Hr MacD building negative momentum
Broke key support
RSI in a downward triangle still hasn't even broken 40.
.5 fibonacci, again acting as resistance as another descending trendline parallel to the last rejection is hit.
We have bounced off of 10k about 8 times now. I think we could draw a line across it and say it's a neckline of a triangle.
Using these two trendlines we can see another downward triangle, imminent completion.
If this is wrong, we simply create a...
.5 Fibonacci has been a reversal zone out of these bear flags.
We've had 3 bear flags as you scan see making a symmetrical or downward triangle.
First one was a reversal to upside. Second one to downside as bearish trend continued.
May not go to 11.5k like people want. Don't miss the trend line below that that also is acting as...
So yea lots of lines here, and I redrew my previous idea for a larger triangle just incase the 10.6k resistance breaks. I think that triangle is still valid but if it does break we just enter a larger triangle. Here we got upward and downward fib channels ATH fib (in white) and green fib (from 3.4K-13.5K) and we got a downward triangle forming with neckline at...
Looks like the Bitcoin bubble is popping again. Critical support line has broken. Alt season is canceled.
But since right now 4 hour is oversold and we have bullish divergence on the MacD.
One could set a target at the top of that triangle to sell or short. ~10.5
Don't hold too long. Lower prices coming. Ponzi has been exposed. Nobody wants crypto.
Could short here. 4 hr bearish divergence on macd. Or could wait to hit that 50% fib channel line (green). 4 hr rsi almost overbought. Bears do need to pick up the game. Bulls getting those higher lows since 9700.
I've seen both descending triangles and falling wedges as explanation for recent price action but to my mind neither are correct. You gotta negate the blow off top somewhat. Triangles account for it in their figure, but the bear flag channel doesn't, save for offering the dump support on that heart-line, which in the triangles has no structural support.
The longest RSI uptrend in history of Bitcoin, lasted from October 2011 to August of the next year. ~10 months
What we are looking at now is similar. Our daily RSI bottomed in November 2018 and price met it's bottom in December 2018 creating bearish divergence.
We have been in an RSI uptrend ever since.
We haven't surpassed the 2011 uptrend we're probably 2nd...
Update of previous idea:
4hr volume not yet high enough to initiate short. Redraw the upward channel.
stoch rsi about to hit 40.
look for bearish divergence on macD if we break out of channel to short.
So yea... ~ 13.5-14k should serve as a top at least temporarily seeing as we have:
• a 61.8 fib retracement there,
• a couple monthly candle tops there,
• many weekly bottom candles closed,
• the volume still a bit low
• a triple top possible on the RSI
• a top on the MFI.
• Shorts still increasing
Yes we crossed the 200 ma on daily, yes we made higher highs on every time frame, BUT why is only one or two coins going up (BTC, BNB) if the whole market is bullish? Last time we were at 11k ether was about 800 a pop, we had a market collapse and then a sudden inflation. I don’t think this is a real bull makret! I expect a massive correction. Bearish indicators...
So looks like 20k is within sight before the end of next month. 75k before the end of this year. Bitcoin was supposed to bounce around in that channel between the red top trendline and the green bottom trendline for a year and a half. We didn't double bottom we didn't double golden cross we skipped all that and we aren't going to slowly break our 10k 11.5, 13.5,...