Look at month chart and see the bottom trend for the past few years. If bitcoin went way up from here it would be moving into a dangerous parabolic bubble sure to crash hard at year's end, which it may do, but I believe not before dropping further.
I view the volume dwindling, the uncertainty of markets all around due to tariffs, scared money, dumb money, and some nervous whales trying to get some quick gains before cashing out. If we hit the bottom trend line, it'll be seriously discounted buying for an upswing to 120 - 150k by year's end.
So, I am looking for chances to start shorts and longs on the way down. This chart shows I appear to have been right about the last pennant, and the pennant formed now looks imminent to take a dive once again. Lower volume trading, pushing the price up until bulls run out of steam and some sharp drops. Starting to look like descending stairs on my screen.
The only other likelihood is a steady sideways support period, but the desire for discounted coins tends to keep the heavy hitters out of the market for now.
I view the volume dwindling, the uncertainty of markets all around due to tariffs, scared money, dumb money, and some nervous whales trying to get some quick gains before cashing out. If we hit the bottom trend line, it'll be seriously discounted buying for an upswing to 120 - 150k by year's end.
So, I am looking for chances to start shorts and longs on the way down. This chart shows I appear to have been right about the last pennant, and the pennant formed now looks imminent to take a dive once again. Lower volume trading, pushing the price up until bulls run out of steam and some sharp drops. Starting to look like descending stairs on my screen.
The only other likelihood is a steady sideways support period, but the desire for discounted coins tends to keep the heavy hitters out of the market for now.
I will be sharing updates on Twitter at
twitter.com/NCryptocoins
twitter.com/NCryptocoins
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.
I will be sharing updates on Twitter at
twitter.com/NCryptocoins
twitter.com/NCryptocoins
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.