$BTC is the correction over, or do we grind higher?
Updated
Been expecting a 3 wave move in this bear market formed of 5 waves down, 3 waves correction, final 5 waves down.
Not sure it is quite over yet and sentiment is that if the $32400 area is broken we have confirmation of a new bullmarket.
Indicators are suggesting we are more likely near a top than a new bullmarket based on:
Stoch RSI forming a double top pattern at extremes -: note, crossover not confirmed yet
Williams Vix in the low sell band
LMacd declining green bars divergence -: note, no moving average crossover yet
In my opinion, price can stretch higher and I will only look to short either:
A) when all 3 indicators are flashing at the same time to sell (awaiting the crossovers)
B) price enters my shorting zone marked in the rectangle
DXY having alot of fake-outs, but looks like it is building a bottom structure again
Natural Gas and Crude Oil are breaking out, which is a forward indicator of inflation surging again and therefore continuation of the bear market.
Selling pressure can come in May also from Gemini and DCG fud as well as US dumping silk road bitcoin
Not sure it is quite over yet and sentiment is that if the $32400 area is broken we have confirmation of a new bullmarket.
Indicators are suggesting we are more likely near a top than a new bullmarket based on:
Stoch RSI forming a double top pattern at extremes -: note, crossover not confirmed yet
Williams Vix in the low sell band
LMacd declining green bars divergence -: note, no moving average crossover yet
In my opinion, price can stretch higher and I will only look to short either:
A) when all 3 indicators are flashing at the same time to sell (awaiting the crossovers)
B) price enters my shorting zone marked in the rectangle
DXY having alot of fake-outs, but looks like it is building a bottom structure againNatural Gas and Crude Oil are breaking out, which is a forward indicator of inflation surging again and therefore continuation of the bear market.
Selling pressure can come in May also from Gemini and DCG fud as well as US dumping silk road bitcoin
Note
Low lev shorting (sub 5x) incentivised between 332-42klong scalps on 8% moves if 4hr rsi goes below 25 level. Simplezz.
CZ of binance is playing with whales and/or mutual funds to stabilise & pump btc halfway through the next session
Designed to create psychological complacency vs binance fud
At some point some shoe will drop.
This isnt retail following herd, this is pure whale pumping since $17100~
There is rarely retail bid, just whale bid; hence look at busd-factored pumps and TUSD pumps it's very obvious
Tread cautiously. Dont think retail has candy to follow through past 35k
Btc short term pump - consolidation - alts - btc dump - alts dump more. TP alts to btc or usd after large moves after 1D chart.
Note
wtf is HKEX:32 -i meant $ BTC 32-42k
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