Short

Double Bear

Updated

I see a Double Bear signal in the divergence chart. Seems risky to put my money in right now. I should wait.
Also the tight blinger squeeze makes me uneasy. Its more likely go down than up.

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Seems to be working as I thought.. lets see how this goes

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Still in play...waiting to see it drop to 27k at least.

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Waiting to see how this unfolds into the weekend when volumes are lower. Maybe bears might push it further down in the weekend?

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Nice! still in play.

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I guess the volumes are still pretty low. Waiting and watching

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uneventful day.. but its expected as its nearing the weekend. DXY rising slightly as well... if the RSI keeps going down without the price going down, this analysis could easily reverse. I will wait until it gets to 30 on the daily chart..

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Ok the 15 min RSI top is here.. lets see how far it drops in the short term.

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this range is annoying ...

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idea seems to be still in play... I will continue to wait.

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Yaaawnn .. slow day. Range seems to have moved at the bottom of the Bollinger band. Maybe the range now is ~ 29,500 to 30,200 . Waiting for some news.

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Was something supposed to happen at 6 pm GMT today? Anyone know?

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It seems the XRP news that boosted all the Alts may cause them to crash a little bit because the SEC is now considering an Appeal to make XRP bad again.

I will put stop losses now.. just in case

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so, it seems to have bounced of off the 29,400 - 29,600 area again a third time, making it a bit more weaker. when the high volume of the weekdays come in, it could break that support. I will wait and see. Still pretty much in tighter range.

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So a little more bounce to 30k. However notice how most major alts have not moved at all as the confidence that this position will hold is very weak.
I think if XRP crosses 80 again, I will pivot but until then I will continue with this idea.

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gah... Most boring weekday ever ... I read that at one point in time during this weekend only 20 BTC were traded ! go figure ...
Waiting for the 26th ..

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I am ready for 5 PM GMT tonight ...

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Might be in the works here... get ready for the drop.. there is a 15 m support at 29k on binance.. it could get broken..

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First attempt failed .. but the wall is now 8m

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Its broken!!

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I see a wall at 28500 of about 11 m. At 6 pm GMT it might break that ...

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Still waiting for a larger dump to happen

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BTC is still over bought imho. I think 27500 to 28500 is still in play until the FOMC meeting results on 26th

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Volume is down... I guess everyone is waiting for those FOMC results. Even XRP is going down on the daily chart. XRP might end up back to the previous top of 0.55 if BTC goes down to 27500. I will wait before I invest.

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1 more day to wait and see where how low this gets ... I might wait until 27500

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still in play

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1 hr

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Results are in ... there is no more selling pressure I think.. it will mostly likely go up from here.

No new FUD news ..
No news really other than .25 bps rate hike which was expected.

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Update: so it seems the sell pressure was mostly there because of a pivot from the DXY that initially indicated a downward direction but suddenly pivoted to ~101 from ~100.

From what I can tell crypto is NOT following the S&P 500 but instead it is following the DXY.

I will keep an eye on DXY more than ever....

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Wow so the range is strong here. DXY is in range, no new news about anything at all is potentially causing a very low volume of trade.
The RSI is flattening too.
But I am a bit scared to think of any up side potential here.
Waiting for that Blackrock ETF update..
or a Binance Update ..
Both these news could potentially swing the chart either ways imo.

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The Bond market seems to have come in to play now.
Also the stocks are going down too.
All this while stocks were up and yet bitcoin was not able to make major strides.
However now that the interest rates are potentially going to up,
the stocks have already started responding to it.

I will keep my cash for the moment and wait for another signal.

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