The last dump around the new 8.6-PI-Cycle and failure to break out is a heavy indicator that we are crashing to 2.5k very soon.
Mining Businesses will close, Futures markets close, real panic ensues.
The resistance trendline is clearly turning down, which shows extreme weakness.
The last run was on very little volume.
With the new PI-Cycle starting, I expect a heavy dump followed by accumulation range.
5.8k was supported to distribute on consecutive rallies. Now that everything unloaded by the operator, retail will start to unload.
Mining Businesses will close, Futures markets close, real panic ensues.
The resistance trendline is clearly turning down, which shows extreme weakness.
The last run was on very little volume.
With the new PI-Cycle starting, I expect a heavy dump followed by accumulation range.
5.8k was supported to distribute on consecutive rallies. Now that everything unloaded by the operator, retail will start to unload.
Note
I´m bullish Alts and ETH and bearish BTC :)
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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.