Bitcoin getting ready to the downside
Updated
As expected not much happened during the weekend. On Saturday I posted in Telegram about the downwards move that we will have today, and how we need to be patience. When there is no liquidity whales tend to stay away until big walls show up. Since the rally that the altcoins had the sentiment in Crypto is bullish, many are still buying and that´s what the whales wants, banks of fishes but we are not fishes, we are the whales parasites so always stay pegged to them, if they go down we short, if they go up we long. That´s what I´m doing since a long while ago and that´s what I´m sharing with you guys, to identify the overall direction understanding how this market works.
If you remember this idea, I was talking about how strong the EMA 20 have been during the ATH, and how it wasn´t going to get broken this time.
As you see the price got rejected one more time at the top of the triangle, and the latest support was broken as well, so I have no doubt that we are going to at least 61.8 fibo from the leg B to C and in my opinion we will most probably looking to touch 78.6 fibo which is even lower of the leg D that I draw in my chart. This D wave is a corrective wave and now we are making C from the ABC (a corrective wave is made of an ABC).
However many are being extremely bearish with the current rejection, and those could get inside of a bear trap very soon. I´ll be very careful on where I close my shorts and where I open new longs, I see a bear trap and a even bigger bull trap coming, but since we don´t have a crystal ball, we need to monitor the market constantly and I try to make it easier for you guys by sending signals and updates to my Telegram group, feel free to join us.
As always, be patience and measure your money management strategy. Thanks for watching and your support, really appreciated. Don´t forget to hit "like" and subscribe if you like my work :)
If you remember this idea, I was talking about how strong the EMA 20 have been during the ATH, and how it wasn´t going to get broken this time.
As you see the price got rejected one more time at the top of the triangle, and the latest support was broken as well, so I have no doubt that we are going to at least 61.8 fibo from the leg B to C and in my opinion we will most probably looking to touch 78.6 fibo which is even lower of the leg D that I draw in my chart. This D wave is a corrective wave and now we are making C from the ABC (a corrective wave is made of an ABC).
However many are being extremely bearish with the current rejection, and those could get inside of a bear trap very soon. I´ll be very careful on where I close my shorts and where I open new longs, I see a bear trap and a even bigger bull trap coming, but since we don´t have a crystal ball, we need to monitor the market constantly and I try to make it easier for you guys by sending signals and updates to my Telegram group, feel free to join us.
As always, be patience and measure your money management strategy. Thanks for watching and your support, really appreciated. Don´t forget to hit "like" and subscribe if you like my work :)
Note
The price found support at 3860, and it may be making a small corrective abc up. Yesterday after I detected the pattern I sent a signal to my subscribers in my Telegram group with instructions about how to deal with this bounce, so we are now in a safe trade where whatever happens we are winning since we are short from an average of 3975 in BTC and 138.5 in ETH.Note
Learn more about the current patterns that the market is printing.
Note
This channel should hold the price.Note
More sideways action guys, nothing bullish. I’ll TA Bitcoin very soon, thanks for your support.
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