This last pump from 20k to 31k was the exit pump. The hype train.
The recent dump from 31 to 27 and back to 29 shows weakness, even more so than the previously highlighted similar situation.
Last time the highlighted situation occurred, it made a higher high, yet still dumped.
This leads me to believe this is the big one. The weakness.
18k Bitcoin is going to become a reality much sooner than many believe. there's going to be buy orders laddered at 25k, 20k, smash thru take that liquidity.
The recent dump from 31 to 27 and back to 29 shows weakness, even more so than the previously highlighted similar situation.
Last time the highlighted situation occurred, it made a higher high, yet still dumped.
This leads me to believe this is the big one. The weakness.
18k Bitcoin is going to become a reality much sooner than many believe. there's going to be buy orders laddered at 25k, 20k, smash thru take that liquidity.
Note
Dump this trash.Note
Looks great. Minimum yellow line as support. I think it goes lower though, but there will be bounces on the way down.Note
still in play here.Note
Base caseNote
What was once resistance became support and once again resistance.the 200 week moving average.
Note
Ive turned more bearish since last update. Looking for a capitulation, rather quickly, to 16500 area. Due date by end of month.
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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.