Bitcoin (BTC): A Lot Of Disbelief
The amount of bidders here surprises me, to be honest. These wicks are showing clear accumulation.
Seems like there are many who are expecting some insane reversal to regain all this lost ground.
From a TA perspective, this is what I would consider very wishful thinking and is commonly known as "Catching the falling knife". I mean just look at the number of broken structures here.
Price broke down from both the Bear Flag and the Falling Wedge. The trend is clearly down.
Except many think they are ahead of the market.
For better or worse, we will find out.
Next week is again when everyone thinks markets reverse but there is a lot of data suggesting it won't.
Good luck!
Seems like there are many who are expecting some insane reversal to regain all this lost ground.
From a TA perspective, this is what I would consider very wishful thinking and is commonly known as "Catching the falling knife". I mean just look at the number of broken structures here.
Price broke down from both the Bear Flag and the Falling Wedge. The trend is clearly down.
Except many think they are ahead of the market.
For better or worse, we will find out.
Next week is again when everyone thinks markets reverse but there is a lot of data suggesting it won't.
Good luck!
Related publications
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.