BTC: 5 bearish reasons (1/5)
Updated
Hi all! Why do I think the crypto bear market is not over yet? Keep reading...
This is serial of 5 BTCUSD ideas (with 5 bearish agruments) released one after another one at a time after reaching following criterions: This idea needs to get at least 30 likes (just click the 🚀 button) and 20 comments (mine included, just say "thanks" whatever) in order to "unlock" the next idea which I will publish (here in comments) once the criterions are met and as soon as I can.
So let's get started!
REASON #1: Head and Shoulders
You probably saw this already elsewhere but...the devil is in the details (i.e. target can differ), also it's still absolutely legit. So Bitcoin reached the all-time high @ 69K, dumped hard to 42K, bounced and then dropped back down to 43K. All that price action formed Head and Shoulders pattern (which is reversal formation) with target @ 10200. Break of the neckline and several backtests (red arrows) with rejections just added to the pattern validity. Now we are far away from the breaking point (neckline) but on the other hand we are still quite far away from the pattern target. I mean from 20K to 10K it's still -50%, which is the same as from 40K to 20K. Anyway ... let me know in the comments what do you think. Boost and comment in order to "unlock" the next (2/5) BTC bearish reason! Cheers!
Check my other stuff in related ideas.
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
This is serial of 5 BTCUSD ideas (with 5 bearish agruments) released one after another one at a time after reaching following criterions: This idea needs to get at least 30 likes (just click the 🚀 button) and 20 comments (mine included, just say "thanks" whatever) in order to "unlock" the next idea which I will publish (here in comments) once the criterions are met and as soon as I can.
So let's get started!
REASON #1: Head and Shoulders
You probably saw this already elsewhere but...the devil is in the details (i.e. target can differ), also it's still absolutely legit. So Bitcoin reached the all-time high @ 69K, dumped hard to 42K, bounced and then dropped back down to 43K. All that price action formed Head and Shoulders pattern (which is reversal formation) with target @ 10200. Break of the neckline and several backtests (red arrows) with rejections just added to the pattern validity. Now we are far away from the breaking point (neckline) but on the other hand we are still quite far away from the pattern target. I mean from 20K to 10K it's still -50%, which is the same as from 40K to 20K. Anyway ... let me know in the comments what do you think. Boost and comment in order to "unlock" the next (2/5) BTC bearish reason! Cheers!
Check my other stuff in related ideas.
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Note
So we have got 30 likes, nice. But still need 9 more comments to unlock the next idea. Come on, guys! 😉Note
Here we go guys, next idea of the series unlocked, enjoy:BTC: 5 bearish reasons (2/5)
Note
Next idea of the series unlocked, enjoy:BTC: 5 bearish reasons (3/5)
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Disclaimer
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