BTC.. BEARISH CONTINUATION ?
Updated
SInce we are below the 50 DMA.. the trend below this level suggests bearish continuation targeting the 200 DMA (araound 8900$) and a possible test for double bottom (6k-7k).
I have shared two fractals :
-- the blue is the 2011 fractal which has identical levels (dip at 6$ and a fake breakout to 12$ then straight deep to 2$)
-- the yellow is the fractal of the january bull trap which suggest a resistance at 6-7K (double bottom) and then continue deeper to 4K-4.5K levels)
I have shared two fractals :
-- the blue is the 2011 fractal which has identical levels (dip at 6$ and a fake breakout to 12$ then straight deep to 2$)
-- the yellow is the fractal of the january bull trap which suggest a resistance at 6-7K (double bottom) and then continue deeper to 4K-4.5K levels)
Note
A return to mean and strong bounce from there suggests that all the daily moving averages has to cross and aligned around the same level for sometime (accumulation) - there was no exception for this in all the previous crashes
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so it is not only about price levels fibonaccis and other indicators .. time + price determines the daily average curvesNote
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Original sized fractal.. price ratios are the same only timeframe strecthed horizontally ..Note
Its the weekend !! classic Saturday pumps..Sunday dumps in play..expecting a close below 200 MA for this week (Monday early hours).Note
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Daily fractal
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dump o’ clock..its sunday !!Note
the fractal is accurate so far.. and according to it a free fall is near around U.S. market opening (not trading advice).Note
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I see falling “bullish” wedges everywhere !
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breaking the ice !!Note
the 50 DMA might diverged a bit from its path to cross the 200 DMA BUT I AM NOT !always stick to your strategy dont get confused by daily swings..never fear you are missing the trade ! even if your idea/strategy fails wait until the end.. if you are convinced that the trend reversed its better to buy the breakouts than buy the hype !
Note
50 MA now starts from 5th of february (end of dip) which means it will go flat or slightly upward of the 200 MA ..NO Death cross UNTIL we have 5 consecutive closes below 7500 $ this week or the next week !
if the expected cross delays for another week or two bulls would gain moementum for strong bounce after a decent accumulation around 8K
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