DON'T FRET - BTC ISN'T GOING ANY HIGHER...
What's up TV Fam:
BTC's move over the last 7-10 days has been quite interesting to say the least.
Everyone this week was shocked to see BTC climb over 22k, hold, and even tickle the balls of 23k.
As you can see, a massive descending wedge is forming and with the recent move from last night, I re-drew the top line of resistance so the wedge is even larger than before - in effect, making it take longer for price to squeeze down before a bottom is found.
The Fib I drew to confirm a .618 - .65 Golden Pocket was candle close to candle close (which is the closed orders for the period). Indicated by the yellow arrows.
The rally in mid-2019 took place AFTER we capitulated --- so let's not forget about that...
Capitulation NEEDS to take place to flush out all the perma-bull Twitter NFT Anons who are down bad on Twitter, and the YouTube Crypto Gurus, regardless of being below the 200SMA.
A lot of the historical price action with BTC was BEFORE Wall Street dabbled (pre-March 2020).
Twitter NFT Anons needs to stop flexing.
BTC, ETH, Altcoins, Shitcoins all follow SPX and Equities. Period.
BTC's move over the last 7-10 days has been quite interesting to say the least.
Everyone this week was shocked to see BTC climb over 22k, hold, and even tickle the balls of 23k.
As you can see, a massive descending wedge is forming and with the recent move from last night, I re-drew the top line of resistance so the wedge is even larger than before - in effect, making it take longer for price to squeeze down before a bottom is found.
The Fib I drew to confirm a .618 - .65 Golden Pocket was candle close to candle close (which is the closed orders for the period). Indicated by the yellow arrows.
The rally in mid-2019 took place AFTER we capitulated --- so let's not forget about that...
Capitulation NEEDS to take place to flush out all the perma-bull Twitter NFT Anons who are down bad on Twitter, and the YouTube Crypto Gurus, regardless of being below the 200SMA.
A lot of the historical price action with BTC was BEFORE Wall Street dabbled (pre-March 2020).
Twitter NFT Anons needs to stop flexing.
BTC, ETH, Altcoins, Shitcoins all follow SPX and Equities. Period.
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.