BTC (Y20.P5.E7).Macro.Pullback sign has arrived.
Updated
Hi,
Its the pullback that many have been talking about.
Some of my recent posts focused on consolidating the ALTs to BTC as a cautious measure or USD.
Those who followed that strategy, would be much better off now.
As for the chart/s, although we got support on the daily 20 EMA, the trend has changed and a few other things indicate to me we are going down.
Key points:
> Broke a key trend line
> Bearish divergence on the daily
> Daily candle structure and 12 hrly as well
> Daily RSI broke the support level (chart below)
> Alts have made their tops (eth chart below)
> BTC dominance is up (chart below)
> We were way over extended.
BTC dominance chart
12 HRLY chart, note the bearish structure of the candle sticks.
ETH chart, usually a leading indicator
Weekly chart
Heading for the 2 fib levels which has confluence with the 10, 20 weekly ema.
Its the pullback that many have been talking about.
Some of my recent posts focused on consolidating the ALTs to BTC as a cautious measure or USD.
Those who followed that strategy, would be much better off now.
As for the chart/s, although we got support on the daily 20 EMA, the trend has changed and a few other things indicate to me we are going down.
Key points:
> Broke a key trend line
> Bearish divergence on the daily
> Daily candle structure and 12 hrly as well
> Daily RSI broke the support level (chart below)
> Alts have made their tops (eth chart below)
> BTC dominance is up (chart below)
> We were way over extended.
BTC dominance chart
12 HRLY chart, note the bearish structure of the candle sticks.
ETH chart, usually a leading indicator
Weekly chart
Heading for the 2 fib levels which has confluence with the 10, 20 weekly ema.
Note
A slight over performanceNote how the 0.618 level is not out of the question.
tradingview.com/x/DOfIL3Em/.
Note
this market is bullish and more so next year.I have it pulling back to 14k to 16.5K level, or the 0.618 fib but more likely the weekly 21 EMA
Note
the moves for the short term.Note
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This community has signals now but with no risk management comms.
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