If previous low is taken out (5780), expect a free fall to 4300.
3 touches at this support zone, the 4th one will not forgive.
P.S: Congratulations to anyone who was red pilled enough to take the short at 7500 and didn't listen to these perma-bull fools in my comments.
3 touches at this support zone, the 4th one will not forgive.
P.S: Congratulations to anyone who was red pilled enough to take the short at 7500 and didn't listen to these perma-bull fools in my comments.
Note
The mother of all bear flags that will put the entire puzzle together.
Note
Have been playing with different color schemes, pardon the sudden changes...
Anyway, back to the meat and potatoes, nothing has changed. We are in a clear rising wedge with bearish divergence. I have even updated the chart with Bitmex as the exchange since they have the HIGHEST Bitcoin trading volume. Still, there is significant divergence. I believe a breakdown is imminent once the 6.5k support is broken and confirmed with high volume.
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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.