Chinese manipulation at it again.
Once more the ultimate oscillator is giving the confirmation while RSI slacks
Bitcoin bear market continuing onwards from 58k, here presented is a potential ending diagonal which has offered an overthrow on resistance - nothing out of the ordinary
Usually an ending diagonal marks the end of a segment within a wave - it will be interesting to see what comes next considering the most recent bounce ending lower than where it was initiated, wave 5 usually retraces itself completely (thus we have some way to go). What is on the tables is whether we have another wave left or if this is the finally, considering how rapid the price discovery has been any further upwards rally would be insanity & I would be reluctant to go long-term long
This move is possibly continuing onwards from the irregular/running flat formed from the move to ~60k, or it could be a component of a zigzag which started at ~59k & was confirmed with the recent retrace to ~58k
Bitcoin should of had a large move down already, volume is substantially low - no new in flows for a while, despite socialite attempts
Odd lot theory confirmed with snoop dogg & lohan entering the market
By now, investors should be asking themselves this: what the fuck is going on?
BTC correlation with gold, dollar index, and equity markets, is constantly alternating depending upon what favours a bitcoin move upwards
Ending diagonal example:
th.bing.com/th/id/OIP.JWZqBL0kz5sMGIQqCFKMmQHaFx?pid=ImgDet&rs=1
There's no doubt that this is a bubble, thus forecasting is tedious - when panic sets in it will infect others
Once more the ultimate oscillator is giving the confirmation while RSI slacks
Bitcoin bear market continuing onwards from 58k, here presented is a potential ending diagonal which has offered an overthrow on resistance - nothing out of the ordinary
Usually an ending diagonal marks the end of a segment within a wave - it will be interesting to see what comes next considering the most recent bounce ending lower than where it was initiated, wave 5 usually retraces itself completely (thus we have some way to go). What is on the tables is whether we have another wave left or if this is the finally, considering how rapid the price discovery has been any further upwards rally would be insanity & I would be reluctant to go long-term long
This move is possibly continuing onwards from the irregular/running flat formed from the move to ~60k, or it could be a component of a zigzag which started at ~59k & was confirmed with the recent retrace to ~58k
Bitcoin should of had a large move down already, volume is substantially low - no new in flows for a while, despite socialite attempts
Odd lot theory confirmed with snoop dogg & lohan entering the market
By now, investors should be asking themselves this: what the fuck is going on?
BTC correlation with gold, dollar index, and equity markets, is constantly alternating depending upon what favours a bitcoin move upwards
Ending diagonal example:
th.bing.com/th/id/OIP.JWZqBL0kz5sMGIQqCFKMmQHaFx?pid=ImgDet&rs=1
There's no doubt that this is a bubble, thus forecasting is tedious - when panic sets in it will infect others
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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.