Bitcoin: Another Rejection & Local Lower High
Updated
Good afternoon my dear friend,
Looking at Bitcoin on the daily timeframe we now see a confirmation of MA200 as resistance. While in late September there was a fake breakout, this isn't the case this time around.
Yesterday we can see Bitcoin making an attempt to move higher —BTCUSD tried to move above MA200 but failed. The session ended with a long upper wick and closing at the sessions low, a very strong negative candle.
We have a short-term lower high and MA200 confirmed as resistance. These simple signals indicate that Bitcoin is ready to continue lower in the days, weeks and months to come.
Thank you for reading.
Remember to leave a comment with your thoughts, questions and opinions.
Insults and personal attacks are also welcome and tolerated, we are all adults.
Namaste.
Looking at Bitcoin on the daily timeframe we now see a confirmation of MA200 as resistance. While in late September there was a fake breakout, this isn't the case this time around.
Yesterday we can see Bitcoin making an attempt to move higher —BTCUSD tried to move above MA200 but failed. The session ended with a long upper wick and closing at the sessions low, a very strong negative candle.
We have a short-term lower high and MA200 confirmed as resistance. These simple signals indicate that Bitcoin is ready to continue lower in the days, weeks and months to come.
Thank you for reading.
Remember to leave a comment with your thoughts, questions and opinions.
Insults and personal attacks are also welcome and tolerated, we are all adults.
Namaste.
Trade active
We have some extremely bearish dynamics playing out for Bitcoin:
1) The 3-October low has been broken.
2) Today's session wicked higher and is now trading at the low of the session.
3) Bearish continuation confirmed.
4) Bearish all across.
5) DXY ultra-bullish.
6) Expect a new and strong major low.
Prepare for the crash.
It is on!
After the bottom is hit, there will be massive growth.
The recovery will happen in late 2024.
Thanks a lot for your continued support.
Namaste.
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