BTC/USD - Highest level of selling pressure in BTC in 2018
Updated
As you can see in this chart (see the red arrow in the lowest chart), the Chaikin Money Flow now shows the highest (deepest) level of selling pressure in all of 2018. Very bearish.
I'm not going short though. I'm on the sideline with 100% cash, waiting for a break-down in price.
I'm not going short though. I'm on the sideline with 100% cash, waiting for a break-down in price.
Comment
I now think that first, short term, there will be a short squeeze. I can see it building up. I'm now long.Comment
I think we may see a short-term rally until below the 200-day MA (now around USD 7,800), creating sort of a double top. That's my contrarian view right now.Comment
If selling pressure is at the highest of the year and BTC doesn't sell of, then that's a bullish divergence, right? An early bullish sign.
It is all Fibonacci.
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