BTC - BIG STORM AHEAD !! Bulls Are Now Trapped Waiting Death.
Updated
=> CHARTS = (MEDIUM/LONG) TERM - Please Don't Be Confused => Takes (weeks/months) to Complete <=
Hi, Followers and Friends,
So, as we saw on the last chart, a pause and a correction just happened on BTC market.
Now, It is probably time for Number # 3 - DROP TIME.
When there is a Down Trend = Correction is Up.
When there is a Up Trend = Correction is Down.
Since BTC is still on a Downtrend, correction was up, and now many bulls are trapped, because price should not go any higher.
At first, on May 25th, I posted a possibility for a Bull Trap to 8k. But then, on May 29th, I saw a very strong resistance at 7.800, so I told everyone that 8k was out, and that price could not reach 8k.
So far, this bull trap could only hit $ 7.770.
Now, correction is stressed out, and there is no more power to get price higher than $7800 resistance.
So, if there is no result, and Bears feel Weakness, that start to come for another massacre.
MA 100 is now in charge of the Daily Chart.
It is still possible that all the Bulls try one last attempt before dying, trying to survive. So, let's see if it is going to be a calm death or if there will be a resistance. But, M.W. still shows that $ 7.800 is the limit as a resistance for BTC now.
It is so weird how many people keep using higher lows to do technical analysis on daily charts. Some types of charts and only on specific moments, could help, not like this. So, because they see higher lows on BTC on daily chart, they just think price is going to 13K now.
It is not time to go long yet. Hold On, time for that is probably very near. Beginners and Intermediate just wait for price to get lower to buy, others check below.
Remember This is Very Dangerous Market so try to not Lose All Your Money on This, and You can already call yourself a winner:
Beginners: Don't Trade (Bullish/Bearish) Market - Don't Trade Bull Trap - Don't Borrow Money
Intermediate : Trade Bullish Market Only (Low Risk) - Don't Short - Don't Borrow Money
Advanced: Trade Bullish or Bearish Market ( Low Risk) - Don't Trade Bull Trap - Don't Borrow Money
Experienced: Trade Bullish or Bearish Market ( Medium Risk) - Trade Bull Trap (Low Risk) - Borrow Some Money
Top: Trade Bullish or Bearish Market (High Risk - Big Money) - Trade Bull Trap (High Risk) - Borrow Some Money
Follow This and the Risk of Losing Everything Falls to 90%.
___________________________________________________________
ADVICE:
--------
=> MARKET FLOW: Market never happens at once, there will always be many moves inside the waves if you look close enough.
When I spot a Trend and post it here, it does not mean it will go at once, or at that exact moment I post. These Charts I post are Medium/Long Term - so takes weeks/months to complete.
=> CHARTS = (MEDIUM/LONG) TERM - Please Don't Be Confused (Takes weeks/months to Complete)
=> PLACING ORDERS: At this moment, I am NOT offering buy and sell signals, you need to Do Your Own Research when Placing Your Orders and Stop Loss.
=> STOP LOSS: That's a responsibility a person should have with their own money, I don't have the influence on that. I strongly advise you to use a stop loss. Try to catch the waves, but with a secure area, and limit your risks, considering a loss you can afford.
_________________________________________
=> For MORE INFORMATION check Related Ideas Below.
=> Feel free to: Comment, Suggest better ideas, Ask questions inbox, Help me improve,
Give a Like and Follow.
_________________________________________
Good Luck and Good Profit.
M.W. - Moving Water
Trade active
Trade active
Thanks for Trusting and Following.
M.W.
Trade active
First Easy Target Reached.$ 6.900
Note
Enjoying the Ride? Would Like Future Charts?Note
Trade active
Note
Trade closed: target reached
All Targets HIt => 100% Perfect. Thanks for Following and Trusting
Related publications
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.