Bitcoins path of least resistance
Updated
Okay, so. Today, we are at a major turning point in BTC.
What happens in the next couple of hours will basically
determine whether or not we ride Candy Mountain.
As we speak, the RSI is Neutral while the MACD is signaling
bearish divergence. Both of which are nearing an apex.
All week, as I have stated, there has been Hidden Bullish
Divergence. The bulls have been waiting for something. It
COULD be a better buy opportunity. Whales are setting up
for something big. I use to be very bearish, but once I started
seeing Hidden Divergence in basically every time frame but the
daily, I went Bull. That isn't the only indicator I have seen that
establishes Bull presence, but it is a very strong hint towards
what could happen next.
I am still Bullish despite all the bearish charts being produced.
Why?
Again, there is Hidden Bullish Divergence on all time frames
if you look for it. We are still technically bullish in price even
though we are outside the uptrend channel. Not to mention
we have some SERIOUS support underneath us. We would have
to break the 50 MA, then break 3 supports, then break the 250 MA,
then break one last strong support before even considering freefall.
I like to think of Cryptos like water - they almost always take the
path of least resistance. 10K resistance might seem rough, but
what lies below is even harder to break, all things considered.
Any price above $8,700 I believe, is still technically bull territory.
When we dumped, we didn't dump that far. By my own standards,
we are sitting right outside the uptrend channel and waiting for an
opening back in.
So we are not far off from Candy mountain, we just need a huge push.
A break above 10k with serious momentum is one last chance to buy.
THEN MOM AND POPS MITE LAMBO US TO DA MEWN
Maybe.
xD
Not financial advice. Just my 0.02 Satoshi's painted on a chart.
Good luck and happy trading!
What happens in the next couple of hours will basically
determine whether or not we ride Candy Mountain.
As we speak, the RSI is Neutral while the MACD is signaling
bearish divergence. Both of which are nearing an apex.
All week, as I have stated, there has been Hidden Bullish
Divergence. The bulls have been waiting for something. It
COULD be a better buy opportunity. Whales are setting up
for something big. I use to be very bearish, but once I started
seeing Hidden Divergence in basically every time frame but the
daily, I went Bull. That isn't the only indicator I have seen that
establishes Bull presence, but it is a very strong hint towards
what could happen next.
I am still Bullish despite all the bearish charts being produced.
Why?
Again, there is Hidden Bullish Divergence on all time frames
if you look for it. We are still technically bullish in price even
though we are outside the uptrend channel. Not to mention
we have some SERIOUS support underneath us. We would have
to break the 50 MA, then break 3 supports, then break the 250 MA,
then break one last strong support before even considering freefall.
I like to think of Cryptos like water - they almost always take the
path of least resistance. 10K resistance might seem rough, but
what lies below is even harder to break, all things considered.
Any price above $8,700 I believe, is still technically bull territory.
When we dumped, we didn't dump that far. By my own standards,
we are sitting right outside the uptrend channel and waiting for an
opening back in.
So we are not far off from Candy mountain, we just need a huge push.
A break above 10k with serious momentum is one last chance to buy.
THEN MOM AND POPS MITE LAMBO US TO DA MEWN
Maybe.
xD
Not financial advice. Just my 0.02 Satoshi's painted on a chart.
Good luck and happy trading!
Note
PM me for my Twitch link, I will be streaming Mon/Wed/Fri.PM me for my telegram, I post free signals on BTC and alts!
Note
Update!I am bad at Elliott Wave theory but this is my best guess as to what price action will do. That being said, a drop below my head invalidates both this update and the original idea. We are still technically bull above $8,700. If however, we reach $8,700 or lower, we are officially back in downtrend and these ideas don't mean jack. xD
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