BitcoinShort
Confluence of signals for more downswing
Well people btc is currently making buy signals
We are still in case study 11 at this point so we are just checking to see if all is going well.
THE death cross on the lower to 4h time frame has already been confirmed the daily also made one now
So many people high lighted this already.
THE Adx is showing more downswing to come
And the rsi is below 50 still bearish could just be correction we seeing for more downswing.
THE wave pattern wave 5 must still happen
The box range bottom has not been hit yet so we have to wait for 30 000 or 33 000 to look for a buy some where inbetween
We also see a inner trend line being respected as a resistance level.
It also show polarity resting not a Good signal but useful none the less
The ichimoku has gone full blown bearish on all time frames from 15min to 1h
The 4h is also testing the bottom of the cloud but not fully under yet.
The daily is fully bearish also
So once the 4h time frame confirms under the ichimoku cloud
Than all signals I use has turned bearish
I would consider this as a dangerous confirmation for any long positions at this point
So with all said what do we wait for
NOT A GOOD TIME TO CONSIDER A BUY
IF YOU WENT SHORT FROM THE TOP KEEP POSITION OPEN WAIT FOR BREAK OF INNER TREND LINE OR MOVE PROTECTIVE STOPS
[BUT I DON'T THINK WE WILL BE SEEING ANY BUY AT THIS SUPPORT LEVEL IT LOOKS MORE LIKE A SETUP FOR A BREAK OR CONTINUATION OF MORE DOWNSWING/b]
We are still in case study 11 at this point so we are just checking to see if all is going well.
THE death cross on the lower to 4h time frame has already been confirmed the daily also made one now
So many people high lighted this already.
THE Adx is showing more downswing to come
And the rsi is below 50 still bearish could just be correction we seeing for more downswing.
THE wave pattern wave 5 must still happen
The box range bottom has not been hit yet so we have to wait for 30 000 or 33 000 to look for a buy some where inbetween
We also see a inner trend line being respected as a resistance level.
It also show polarity resting not a Good signal but useful none the less
The ichimoku has gone full blown bearish on all time frames from 15min to 1h
The 4h is also testing the bottom of the cloud but not fully under yet.
The daily is fully bearish also
So once the 4h time frame confirms under the ichimoku cloud
Than all signals I use has turned bearish
I would consider this as a dangerous confirmation for any long positions at this point
So with all said what do we wait for
NOT A GOOD TIME TO CONSIDER A BUY
IF YOU WENT SHORT FROM THE TOP KEEP POSITION OPEN WAIT FOR BREAK OF INNER TREND LINE OR MOVE PROTECTIVE STOPS
[BUT I DON'T THINK WE WILL BE SEEING ANY BUY AT THIS SUPPORT LEVEL IT LOOKS MORE LIKE A SETUP FOR A BREAK OR CONTINUATION OF MORE DOWNSWING/b]
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.