Hash ribbons triggered a Sell/Capitulation warning
Updated
Another bearish signal aligns with current risk-on markets sentiment. This plus price action on Daily for Bitcoin look very alike 2018, although I thought we won't see capitulation until closer to October it seems with likely more aggressive stance from FED over the Summer, it could happen very soon. Will it drop 50% from here? Well its not impossible, my sweet spot range for this would be 12-19k. First sign of what is coming should be on 15th of June. Stay tuned!
Note
First target of 19300 reached, for those playing a short its a good place to take some profits if you are convinced we can ride it down to around 12k, either way this was another well placed alert for sell off from hash ribbons
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