BTC's TRUE Top
Updated
Welcome everyone. Thank you all for your continued support. I am trying to focus more on myself than trading, but I believe this is a very possible idea.
Here we see Bitcoin pumping, which admittedly looks very fake. This being said, current price action could EASILY be a bulltrap.
Here's the problem with it being a bull trap. For the past 5 days, there has been Hidden Bullish Divergence. Yet it hasn't really pumped.
Why hasn't it pumped in the bulls are clearly still present and waiting for the right moment?
"right moment?"
...r....i....you get the idea.
WHY?
Because they're WAITING FOR THE RIGHT MOMENT. Draw yourself a Fibonacci Time Zone. Draw it from a top to a bottom and you get these wonderful lines that show a higher possibility of volatility in that time frame.
They are LYING IN WAIT.
Remember yesterdays buy zone? Yeah. We almost hit it.
This is the final version of what I believe to be a run to 11.4k+. We MIGHT even touch 12k. I know, that sounds weird right? Not really. This would create HUGE FOMO. The whales will then dump on you if you're greedy.
Tonight could be the ultimate test. Who will win?
...My money is on the bulls.
If we hit the box WITH MOMENTUM, we are going to the boom boom room.
But as always, this is not financial advice. Just my thoughts, painted on a chart.
Good luck and Happy trading!
Here we see Bitcoin pumping, which admittedly looks very fake. This being said, current price action could EASILY be a bulltrap.
Here's the problem with it being a bull trap. For the past 5 days, there has been Hidden Bullish Divergence. Yet it hasn't really pumped.
Why hasn't it pumped in the bulls are clearly still present and waiting for the right moment?
"right moment?"
...r....i....you get the idea.
WHY?
Because they're WAITING FOR THE RIGHT MOMENT. Draw yourself a Fibonacci Time Zone. Draw it from a top to a bottom and you get these wonderful lines that show a higher possibility of volatility in that time frame.
They are LYING IN WAIT.
Remember yesterdays buy zone? Yeah. We almost hit it.
This is the final version of what I believe to be a run to 11.4k+. We MIGHT even touch 12k. I know, that sounds weird right? Not really. This would create HUGE FOMO. The whales will then dump on you if you're greedy.
Tonight could be the ultimate test. Who will win?
...My money is on the bulls.
If we hit the box WITH MOMENTUM, we are going to the boom boom room.
But as always, this is not financial advice. Just my thoughts, painted on a chart.
Good luck and Happy trading!
Note
Forgot to add in, the arrows are not only profit targets, but potential resistances we can turn into support. AlsoNote
Closer view of the Hidden Bullish Divergence in the RSI.Hidden Bullish Divergence means by definition, the price action lows are getting higher whereas the RSI is going lower. Lower RSI and higher price correlates to the fact that the bulls are slowly winning a long fight with the bears. The bears are losing all their momentum in this area, and the buyers are only getting stronger.
In this chart we have 2 extremely strong resistances in front of us that we need to break. Once past these 2 rising resistances, the sky is the limit.
Bulls, we have a job to do ;)
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Even more bullish evidence:Note
Haven't gotten our buy signal yet.Note
Closer look with support & resistancesNote
We wicked hard into my resistance zone earlier.Still didn't trigger a buy though. ;)
Looks like we need to bear temporarily to reset the RSI.
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Some fresh perspective.A buy is validated if a breakout occurs.
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Closer look.
Breakout past 10k is a buy signal.
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Take profit areas:Note
This is a bit more accurate I believe:Note
So far so good. We should bounce by my support line at about $9,500.Note
More evidence the bulls are lying in waitHidden Bullish Divergence spotted yet again.
Hidden Bullish Divergence means by definition, the price action lows are getting higher whereas the RSI is going lower. Lower RSI and higher price correlates to the fact that the bulls are slowly winning a long fight with the bears. The bears are losing all their momentum in this area, and the buyers are only getting stronger.
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This is a long-shot. But what if? If BTC does what I think it might it means we are going down. Then up. Then down. THEN WAY UP.Hmm..
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There once was a bear who now turned bull, He saw the hidden divergence and said oh hell no!
With his tail between his legs, he walked away,
Renewed with spirit, he tried to say...
But dad, the bears, they are too strong!
Little did he know, his dad went long.
Oh but a trick, he played on the little one,
He smiled with a grin, while bear-son went numb.
There are many lessons learned in this mini bear song,
Especially why his dad went long, little bear-son
Was starting to feel a little dumb
Little bear son saw the bulls painting charts,
Then and only then realized where he went wrong.
10k+ is a buy folks. Not financial advice, just some amateur painting his thoughts on a chart.
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NEWEST IDEA
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UPDATE
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If we break the above 2 resistances with high RSI and high volume, this is a buy opportunity. Possibly one of your last good chances.
Remember. We need A LOT of momentum. I believe getting above these 2 resistances should get what we need going.
Note
This is the most bizarre dump I have ever seen. However, if we reverse here, this is going to be even MORE hidden bullish divergence. I will update this tomorrow.
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