BTC's TRUE double top!
Updated
BIG. B I G money has been accumulating, as shown in an indicator recently introduced to me called the CMF.
If you pay close attention to the RSI, (Relative STRENGTH Index) you will see icredibly strong Hidden Bullish Divergence, as shown here:
4HR
6HR
12HR
Notice the higher lows in price, while the RSI makes lower lows? This is indicating that the bulls are barely even trying, and are waiting for something to really move the price.
Aka what I like to call, 'Candy Mountain'.
We are still technically bullish in price even though we are outside the uptrend channel, as anything above $8,500 is still valid uptrend. Not to mention we have some SERIOUS support underneath us. We would have to break the 50 MA, then break 3 supports, then break the 250 MA, then break one last strong support before even considering another downtrend.
I like to think of Cryptos like water - they almost always take the path of least resistance.
10K+ resistance might seem rough, but what lies below is WAY harder to break, all things considered.
I leave you with a bit of information as to why I see this move happening.
cnbc.com/2018/05/09/wall-streets-first-analyst-to-cover-bitcoin-urges-caution.html
"It has come down quite a long way, and we're getting a lot of people asking ***is now the right time to buy,"*** he told CNBC's "Trading Nation" in a recent interview.
He added: "The short answer is no."
Yeah, the longer answer is that the best time to buy was at $6,753.00, a price we probably will never see again, but THEY don't want YOU to know that, because they're GREEDY.
"It was absolutely a bubble based around the futures launch in December, and a lot of enthusiasm for the asset," said Colas.
A bubble? Let's prove it wasn't!
We are all aware of Goldman BALLsachs right? What do you think the first thing they'll do is?
newsbtc.com/2018/05/04/wall-street-banks-to-follow-goldman-sachs-bitcoin-trading-desk-says-analyst/
What do you think this is gonna do to the price?
The last time I proclaimed a move like this, I hit a perfect bottom. The idea is hidden, but I called the $6,753.00 reversal. Some of you may remember that particular idea. Still to this day I get followers that bring it up. On that particular call, I was only off by less than it would take you to buy 2 cheeseburgers.
FROM MCDONALDS.
People, there is a reason us traders tell you to do your own research. Just like I did.
WE SEE things that you don't.
*******************IF we do not break into 20k, $19,803 should be the reversal point. Otherwise, each price tag on the right hand side is a take profit/resistance/support area.
This idea becomes VALID after a HUGE momentum past 10k.
DO NOT BUY until around $10,100 with HIGH volume and HIGH RSI.************************
PM me for my Twitch link, I will be streaming on Mondays, Wednesdays, Fridays and Saturdays. (I'm currently streaming now actually)
PM me for my telegram, I post free signals on BTC and alts! ALL my info is free!
-Your favorite amateur,
teh Salesman.
PS- Watch the comments closely. I will get a LOT of hate for this call.
It's meant to make you doubt this idea. I bet it'll work, too.
If you pay close attention to the RSI, (Relative STRENGTH Index) you will see icredibly strong Hidden Bullish Divergence, as shown here:
4HR
6HR
12HR
Notice the higher lows in price, while the RSI makes lower lows? This is indicating that the bulls are barely even trying, and are waiting for something to really move the price.
Aka what I like to call, 'Candy Mountain'.
We are still technically bullish in price even though we are outside the uptrend channel, as anything above $8,500 is still valid uptrend. Not to mention we have some SERIOUS support underneath us. We would have to break the 50 MA, then break 3 supports, then break the 250 MA, then break one last strong support before even considering another downtrend.
I like to think of Cryptos like water - they almost always take the path of least resistance.
10K+ resistance might seem rough, but what lies below is WAY harder to break, all things considered.
I leave you with a bit of information as to why I see this move happening.
cnbc.com/2018/05/09/wall-streets-first-analyst-to-cover-bitcoin-urges-caution.html
"It has come down quite a long way, and we're getting a lot of people asking ***is now the right time to buy,"*** he told CNBC's "Trading Nation" in a recent interview.
He added: "The short answer is no."
Yeah, the longer answer is that the best time to buy was at $6,753.00, a price we probably will never see again, but THEY don't want YOU to know that, because they're GREEDY.
"It was absolutely a bubble based around the futures launch in December, and a lot of enthusiasm for the asset," said Colas.
A bubble? Let's prove it wasn't!
We are all aware of Goldman BALLsachs right? What do you think the first thing they'll do is?
newsbtc.com/2018/05/04/wall-street-banks-to-follow-goldman-sachs-bitcoin-trading-desk-says-analyst/
What do you think this is gonna do to the price?
The last time I proclaimed a move like this, I hit a perfect bottom. The idea is hidden, but I called the $6,753.00 reversal. Some of you may remember that particular idea. Still to this day I get followers that bring it up. On that particular call, I was only off by less than it would take you to buy 2 cheeseburgers.
FROM MCDONALDS.
People, there is a reason us traders tell you to do your own research. Just like I did.
WE SEE things that you don't.
*******************IF we do not break into 20k, $19,803 should be the reversal point. Otherwise, each price tag on the right hand side is a take profit/resistance/support area.
This idea becomes VALID after a HUGE momentum past 10k.
DO NOT BUY until around $10,100 with HIGH volume and HIGH RSI.************************
PM me for my Twitch link, I will be streaming on Mondays, Wednesdays, Fridays and Saturdays. (I'm currently streaming now actually)
PM me for my telegram, I post free signals on BTC and alts! ALL my info is free!
-Your favorite amateur,
teh Salesman.
PS- Watch the comments closely. I will get a LOT of hate for this call.
It's meant to make you doubt this idea. I bet it'll work, too.
Note
I would just like to point out.This is the TWELFTH TIME my support has held.
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