BitcoinLong
BTC/ USD : MINDS OF MILLIONS SAY NO
Updated
HEY TRADERS, I'VE BEEN SEEING SO MANY PRICE FORECASTS FOR BTC SO I DECIDED TO DO SOMETHING A BIT DIFFERENT. HERE'S A QUICK LOOK AT SOME BEARISH PATTERNS THAT REFLECT THE SENTIMENT OF THE MASSES REGARDING BITCOIN'S CURRENT HEALTH.
ON CHRISTMAS DAY THERE WAS A DOJI MORNING STAR. THIS IS A BOTTOM REVERSAL, SO IT WAS THE FIRST BULLISH SIGNAL SINCE DECEMBER 17TH.
WE THEN HAD AN OVERALL RALLY UNTIL JANUARY 7TH, WHERE A BEARISH ENGULFMENT PATTERN WAS CONFIRMED. THE BEARS WERE BACK IN CONTROL. ANOTHER BEARISH ENGULFMENT WAS CONFIRMED A COUPLE DAYS LATER ON JANUARY 11TH.
SINCE THEN WE'VE BEEN IN A PRETTY BAD BEAR MARKET. DEFINITELY NOT 2014 STATUS, BUT SOME HAVE FELT THE BURN ALREADY. WE'VE YET TO SEE A DESCENT BULLISH SIGNAL.
THE QUESTION IS...WILL WE BREAK SUPPORT AND CONTINUE THE DOWNTREND? OR WILL THE BULLS COME BACK GUNS BLAZIN'?
...ACTUALLY WE JUST BROKE WHITE HORIZONTAL SUPPORT. WE MAY ENDURE ANOTHER BEATING BOYS
ON CHRISTMAS DAY THERE WAS A DOJI MORNING STAR. THIS IS A BOTTOM REVERSAL, SO IT WAS THE FIRST BULLISH SIGNAL SINCE DECEMBER 17TH.
WE THEN HAD AN OVERALL RALLY UNTIL JANUARY 7TH, WHERE A BEARISH ENGULFMENT PATTERN WAS CONFIRMED. THE BEARS WERE BACK IN CONTROL. ANOTHER BEARISH ENGULFMENT WAS CONFIRMED A COUPLE DAYS LATER ON JANUARY 11TH.
SINCE THEN WE'VE BEEN IN A PRETTY BAD BEAR MARKET. DEFINITELY NOT 2014 STATUS, BUT SOME HAVE FELT THE BURN ALREADY. WE'VE YET TO SEE A DESCENT BULLISH SIGNAL.
THE QUESTION IS...WILL WE BREAK SUPPORT AND CONTINUE THE DOWNTREND? OR WILL THE BULLS COME BACK GUNS BLAZIN'?
...ACTUALLY WE JUST BROKE WHITE HORIZONTAL SUPPORT. WE MAY ENDURE ANOTHER BEATING BOYS
Note
BEARS ARE STILL DOMINATING AS YOU CAN SEE FROM THE TINY REAL BODY OF TODAY'S GREEN CANDLENote
WE GOT A BOUNCE FROM WHITE RESISTANCE. STILL WAITING FOR A BREAKOUTNote
WE HAD A BREAKOUT AT BOTH SUPPORTS, EXTREMELY BEARISH BUT WE WILL RETEST DIAGONAL RESISTANCE EVENTUALLY AROUND THE $9470 MARK. HOPE YOU GUYS AREN'T SELLING! HOLD IT RIGHT IN THE P****Note
WELL THAT WAS STUPID OF COURSE Y'ALL ARE SELLING...OOPS
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.