🅱️ Bitcoin Moving Below EMA50 Confirms Major Crash
Updated
This is not a drill... I repeat, this is not a drill!
Bitcoin is moving once more below EMA50 after a very weak bounce 16-January.
Moving daily below EMA50 simply confirms the upcoming correction without a shadow of doubt. This move is support by low volume and a weak RSI.
This signal only confirms when the day closes below $42,142 (EMA50).
While this is likely to happen today or fast, it can also take its time.
We are looking at the 20th of January, on or around this date (near) for the next major move to fully develop —based on Astrology (planetary movements).
Seeing these bearish signals, no doubt the next major move is down.
Prepare for a correction...
This is not a surprise we've been expecting this for months.
All related markets are also bearish.
The signals are coming from all across.
Prepare accordingly.
We still have some time left.
Thank you for reading.
Namaste.
Bitcoin is moving once more below EMA50 after a very weak bounce 16-January.
Moving daily below EMA50 simply confirms the upcoming correction without a shadow of doubt. This move is support by low volume and a weak RSI.
This signal only confirms when the day closes below $42,142 (EMA50).
While this is likely to happen today or fast, it can also take its time.
We are looking at the 20th of January, on or around this date (near) for the next major move to fully develop —based on Astrology (planetary movements).
Seeing these bearish signals, no doubt the next major move is down.
Prepare for a correction...
This is not a surprise we've been expecting this for months.
All related markets are also bearish.
The signals are coming from all across.
Prepare accordingly.
We still have some time left.
Thank you for reading.
Namaste.
Note
Three days after moving below EMA50, BTCUSDT continues lower and tests EMA100 as support; What can we expect now based on the daily timeframe?The RSI has a reading of 37 (not shown) and the bearish wave/correction is only getting started.
Without looking at the chart we know based on wave proportions, that this is not the end.
A peak was hit 11-Jan, with the first major bearish candle happening on the 12th.
From 12 Jan through 22 Jan we have only ten days. Seeing that the bullish wave lasted from a bottom low hit November 2022 until a peak/high January 2024, this 10 days count as much as a second if the time window would be an entire day. This is only the beginning... So let's focus on the chart and see if it agrees with what I just wrote.
The 22-Jan candle wicks below EMA100 but closes above it, this is normal.
The next day (today), we already have a wick higher and the session red.
When a support level is hit, a bounce is always possible but, will it happen in this case?
While it is possible it isn't likely, for the same reason that Bitcoin had more than a year of growth and the halving is getting closer, so the correction needs to be over soon before long-term growth.
It is likely that the drop will speed up until around 33/32k at which point a small bounce can take place, just to be followed by a lower low and the end of the correction.
If a bounce do happen now the strongest resistance can be seen as EMA50 at 41,800, this would be the peak/top but still unlikely because the sideways phase lasted more than a month.
Now all those players that bought really low will take their time selling to those hoping to buy high, the new ones that are eager to jump in to hold the bags for several months.
That's perfect, it is just how the market works.
There must be buyers to meet the sellers, there must be sellers for the buy orders to fill up.
The chart is saying straight down... The sideways action is over and the confirmation happened 22-January, yesterday.
Now that the next move has been fully confirmed, we just have to wait for it to develop, secure profits and jump back in.
Remember, there is no need to be 100% right.
You don't have to pick the exact top. It is great to sell at 42k, 44k, 48k if you were lucky, but the goal is to sell high after you bought low.
If you bought at 20k, any price above 40k is great, perfect.
In reverse, soon a new buy opportunity will show up. Do not focus on getting the perfect bottom/support/low. You don't have to get exactly 20k. Buying at 22k, 24k, 25k will end up being an amazing entry when Bitcoin starts to grow and peaks in 2025 around 150,000, 180,000 or even 220K.
When in doubt, about securing profits, there is no need to be 100% in our 100% out; Sell a portion until you feel good and relaxed, the market will continue to offer new, more and endless opportunities and you have me to read the charts.
This is just awesome... We will have an amazing year in this 2024 (& beyond!)
Namaste.
Note
🅱️ Higher Probability For Additional Correction Or A New High?Let's look between the lines...
There is always a large amount of data available from the charts.
Each day, each hour, each minute, lots of clues can be extracted regarding the state of the market.
We can always figure out what's coming if we look deep enough.
We can surely figure out with a high level of accuracy what is going to happen next if we interpret the data correctly.
👉 Bitcoin is set to continue lower but what is the evidence supporting this claim?
We have a large amount of signals such as a weak RSI, high bear volume and the relationship between price action and the EMAs, but we are not going to look into those today. Let's focus on a different pattern...
Bitcoin finally moved above 40,000 4-December 2023 after almost two years trading below this price level.
When we have a consolidation phase, price action remains close to resistance.
For example, 24-October Bitcoin moved above 35,000 and remained close to this level only to continue rising.
11-September Bitcoin hits a low around 25,000 and then moves up always challenging resistance, close to resistance as a new high shows up.
This is the dynamic when a new high is about to take place... Prices stay at or near to resistance, with the biggest distance being 15% away from the peak but normally between 5-8%.
Bitcoin peaked 12-January at ~49,000 and we haven't seen a challenge of this level, not even close.
After a month long distribution phase we had a major drop and the current price, while looking strong (40K), is still 18% below the recent top.
This is the giveaway signal...
This is the only confirmation that we need to know that Bitcoin is set to produce a new low.
If we were set to experience a new high, a higher high, Bitcoin would be trading around 44,000 and 45,000 with wicks and swings into the 46,000 and 48,000 price range. Through the days we would see challenges of the last high as this resistance weakens and finally breaks; This is not the situation we have today.
The current price action is not even close to 49k, the highest close happened at 46,981 on January 8.
The fact that Bitcoin's price is dropping means we are going lower... Just a little bit more data to support my bias...
Do you agree? What's your opinion?
Thank you for reading.
Namaste.
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