Flash Crash VERY Possible...
1. The EMA ribbon has flipped from support to resistance. Bitcoin has tested it 4 times (so far) - each time leading to a rejection as shown in the chart.
2. Bitcoins ATH was rejected at the neckline of the Head and HS that sent us into a bear trend back in May of this year
3. Bitcoins daily RSI is still NOT oversold
4. COVID-19 'Omicron' news keeps coming... first case reported in the U.S.
So, to those who aren't considering at least some sort of flash crash to occur, let this be a warning of caution. Me personally, I would invite a scenario in which bitcoin drops to $45-50k because I'm still extremely near-term and long-term bullish.
If you appreciated this analysis, I would appreciate if you like and follow us, as well as comment any questions or objections you have to it!
Trade safely!
2. Bitcoins ATH was rejected at the neckline of the Head and HS that sent us into a bear trend back in May of this year
3. Bitcoins daily RSI is still NOT oversold
4. COVID-19 'Omicron' news keeps coming... first case reported in the U.S.
So, to those who aren't considering at least some sort of flash crash to occur, let this be a warning of caution. Me personally, I would invite a scenario in which bitcoin drops to $45-50k because I'm still extremely near-term and long-term bullish.
If you appreciated this analysis, I would appreciate if you like and follow us, as well as comment any questions or objections you have to it!
Trade safely!
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.
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.