Official Long-term Downtrend Decrease Rate $200.00 Per Day
If we fall below the bottom blue line we are Officially in a Long-term Downtrend at a decrease rate of 200.00 per day...
All Triangular Angles are now Identical, and Downward White Arrows Match the Previous Drops...
IS IT A LONG-TERM DOWNTREND OR UPTREND - HAS THE TREND REVERSED
(There is no indication that we're in an uptrend, yet there is for the Longterm Downtrend as is detailed in the chart above)
You Decide!
The last run like this happened on June 26th and it fell the first $2,400 in less than a minute and that was the day this downtrend started, and the downward angled white arrows match the previous drops...
Possible Capture of Previous June Trend-Line, which appears slightly lower but very close with the New Floor and Ceiling in Blue; stay alert because a sudden drop could still happen any minute.
Drop Alert: Be Aware, A Massive Pullback could happen Any Minute
Over the last 8 hours or so, we reached the previous June Trend-Line, yet not because of buying; Bitcoin, it happened through the systematic use of Spoofing fake buy and ask bids that artificially drove the cost up and if they remove their fake bids Bitcoin will drop back down to the previous low and as low as $9,200
Consistent Consolidation for a Breakout Remains at $9,200 to $9,600
Just another Greed-based Run-up that will cause a Massive Dead-Fall Drop almost Straight Down, just like the previous 3 before this ruthless run-up!
We have officially Left the Trend-Line Reduction Zone and the New Trend-Line is at $9,659.019 and we are trending up with a total Trend-Line loss of $1,470.00
At the Current Trend-Line Rate of $9,659.019 plus a Trend-Line Increase Rate of $160.14 per day, Bitcoin will be worth nearly $65,000.00 in 365 days...
Bitcoin was moving down through a Trend-line Reduction Zone over the last six days at a rate of $1,148.33 Per day and as it did it established a new Trend-line at $9,659.01, which caused a Trend-line loss of $1,470.00 (Bitcoin's Actual Worth)... As the CryptoCurrency dropped it also continued to progress up the Main June Trend-line at a daily increase rate of $160.14 Per day, which now continues upward on the new Trend-line... The Bitcoin Currency may or may not return to the previous June Trend-line, yet either way, the Trend-line is still moving up at the same daily rate as before the Reduction and it remains unaffected by day trading activity... When Bitcoin Peaked at $13,849.00 on June 26th, it was an ambitious attempt to recapture the Previous Trend-line from May that experienced a $3,000.00 dollar loss after a Trend-line Reduction that dropped from approximately $9,000.00 down to $6,000.00, which started the June Trend-line that is currently moving up at an expansion rate of $160.14 per day... Late day trading brought on a rally that topped out at $10.916.82, which further established its new ceiling above the baseline of $9,659.019 and that offer lots of room for substantial day trade opportunity to profit over the next few weeks as it climbs back up toward it new high of $13,849.00... At the current Trend-Line of $9,659.019 plus the daily increase of $160.14, Bitcoin will be worth nearly $65,000 in the next 365 days and nearly $195,000.00 by the end of the next 3 Years and likewise the Trend-Line is likely to jump up several times with further institutional investments (Like Retirement Funding for Teachers)...
All Triangular Angles are now Identical, and Downward White Arrows Match the Previous Drops...
IS IT A LONG-TERM DOWNTREND OR UPTREND - HAS THE TREND REVERSED
(There is no indication that we're in an uptrend, yet there is for the Longterm Downtrend as is detailed in the chart above)
You Decide!
The last run like this happened on June 26th and it fell the first $2,400 in less than a minute and that was the day this downtrend started, and the downward angled white arrows match the previous drops...
Possible Capture of Previous June Trend-Line, which appears slightly lower but very close with the New Floor and Ceiling in Blue; stay alert because a sudden drop could still happen any minute.
Drop Alert: Be Aware, A Massive Pullback could happen Any Minute
Over the last 8 hours or so, we reached the previous June Trend-Line, yet not because of buying; Bitcoin, it happened through the systematic use of Spoofing fake buy and ask bids that artificially drove the cost up and if they remove their fake bids Bitcoin will drop back down to the previous low and as low as $9,200
Consistent Consolidation for a Breakout Remains at $9,200 to $9,600
Just another Greed-based Run-up that will cause a Massive Dead-Fall Drop almost Straight Down, just like the previous 3 before this ruthless run-up!
We have officially Left the Trend-Line Reduction Zone and the New Trend-Line is at $9,659.019 and we are trending up with a total Trend-Line loss of $1,470.00
At the Current Trend-Line Rate of $9,659.019 plus a Trend-Line Increase Rate of $160.14 per day, Bitcoin will be worth nearly $65,000.00 in 365 days...
Bitcoin was moving down through a Trend-line Reduction Zone over the last six days at a rate of $1,148.33 Per day and as it did it established a new Trend-line at $9,659.01, which caused a Trend-line loss of $1,470.00 (Bitcoin's Actual Worth)... As the CryptoCurrency dropped it also continued to progress up the Main June Trend-line at a daily increase rate of $160.14 Per day, which now continues upward on the new Trend-line... The Bitcoin Currency may or may not return to the previous June Trend-line, yet either way, the Trend-line is still moving up at the same daily rate as before the Reduction and it remains unaffected by day trading activity... When Bitcoin Peaked at $13,849.00 on June 26th, it was an ambitious attempt to recapture the Previous Trend-line from May that experienced a $3,000.00 dollar loss after a Trend-line Reduction that dropped from approximately $9,000.00 down to $6,000.00, which started the June Trend-line that is currently moving up at an expansion rate of $160.14 per day... Late day trading brought on a rally that topped out at $10.916.82, which further established its new ceiling above the baseline of $9,659.019 and that offer lots of room for substantial day trade opportunity to profit over the next few weeks as it climbs back up toward it new high of $13,849.00... At the current Trend-Line of $9,659.019 plus the daily increase of $160.14, Bitcoin will be worth nearly $65,000 in the next 365 days and nearly $195,000.00 by the end of the next 3 Years and likewise the Trend-Line is likely to jump up several times with further institutional investments (Like Retirement Funding for Teachers)...
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.