[BTC-USD] RED ALERT! INVERSE CUP N HANDLE- DEFCON 5!
I'm out of the market into the safety of fiat USD for now. This is very much a dynamic market and things are changing so dam fast on the charts, I couldn't even keep up with the 1,5 and 15 minute charts early this morning as I prepared this video. Personally for me, I think its too dangerous to play right now and I am now simply observing this ball game from the bench!
The BTC market is extremely volatile as many of you already know that! What makes me uncomfortable right now is the manipulation of wales pumping and dumping the price of BTC attempting to short the market. Also it was brought to my attention by a new friend on trading view that the exchanges could be dumping BTC, therefore manipulating the price of BTC being one of many variables that is causing the massive sell offs of BTC. Since most of us don't really know the real why 's , all we can truly rely on, are the charts. In conclusion, right at this very moment, the charts signal DEFCON 5 red alert! (Extreme Volatility)
Overall, I observed an inverse /reverse cup and handle which typically indicates a bearish signal and that a bearish trend will continue with the bearish price action of BTC. Extreme caution is advised right now! I am still investigating and undergoing more analysis that will allow me to define a perfect entry point at the absolute rock bottom. If I succeed, then I might end up in a short vacation in a few months in Costa Rica sipping a pina colada. If im wrong than I will be sipping a regular Starbucks coffee at my local coffee shop.
If you enjoyed this video give me a like! Peace out!
CryptoBuzzAnalyst
PS: Disclosure, this TA is not financial advice. This is for educational purpose. You should perform your own individual TA and arrive to your own specific conclusions!
The BTC market is extremely volatile as many of you already know that! What makes me uncomfortable right now is the manipulation of wales pumping and dumping the price of BTC attempting to short the market. Also it was brought to my attention by a new friend on trading view that the exchanges could be dumping BTC, therefore manipulating the price of BTC being one of many variables that is causing the massive sell offs of BTC. Since most of us don't really know the real why 's , all we can truly rely on, are the charts. In conclusion, right at this very moment, the charts signal DEFCON 5 red alert! (Extreme Volatility)
Overall, I observed an inverse /reverse cup and handle which typically indicates a bearish signal and that a bearish trend will continue with the bearish price action of BTC. Extreme caution is advised right now! I am still investigating and undergoing more analysis that will allow me to define a perfect entry point at the absolute rock bottom. If I succeed, then I might end up in a short vacation in a few months in Costa Rica sipping a pina colada. If im wrong than I will be sipping a regular Starbucks coffee at my local coffee shop.
If you enjoyed this video give me a like! Peace out!
CryptoBuzzAnalyst
PS: Disclosure, this TA is not financial advice. This is for educational purpose. You should perform your own individual TA and arrive to your own specific conclusions!
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