Bears are back in town ...
Updated
Guys, have you seen this live? :-)
In my last chart idea I already looked sceptically at the volumes of the last "range breakout" - they were only a third of the least of range breakouts in the last year. That didn't look like the way to the new top to me.
Today, Tue 2021-09-07, a heavy pullback hit BTCUSD and virtually all major cryptocurrencies. It started after the price almost touched 53k at 03:22 UTC , ending in a major bloodrush after 14:30 UTC , with BTCUSD (kraken) finally touching down as low as 42k. About 20% down within two hours. It kinda looked like a long squeeze. At the time of writing prices seem to stabilize around 47k . Now, this is where we have been one month before.
This still could be just a healthy correction on the way to Scenario B and the next ATH , guys ... ;-)
Would you buy that?
It could as well be the case we're just back in Scenario A of the Idea I published four days ago. And this would mean that the market has no trust in a further way up yet after hitting the 63k in spring . That we need to get back to lower levels, yes, as deep as the 20s range. There we will fill our pockets, before we get back and make money and hit the 100k.
Share your thoughts!
In my last chart idea I already looked sceptically at the volumes of the last "range breakout" - they were only a third of the least of range breakouts in the last year. That didn't look like the way to the new top to me.
Today, Tue 2021-09-07, a heavy pullback hit BTCUSD and virtually all major cryptocurrencies. It started after the price almost touched 53k at 03:22 UTC , ending in a major bloodrush after 14:30 UTC , with BTCUSD (kraken) finally touching down as low as 42k. About 20% down within two hours. It kinda looked like a long squeeze. At the time of writing prices seem to stabilize around 47k . Now, this is where we have been one month before.
This still could be just a healthy correction on the way to Scenario B and the next ATH , guys ... ;-)
Would you buy that?
It could as well be the case we're just back in Scenario A of the Idea I published four days ago. And this would mean that the market has no trust in a further way up yet after hitting the 63k in spring . That we need to get back to lower levels, yes, as deep as the 20s range. There we will fill our pockets, before we get back and make money and hit the 100k.
Share your thoughts!
Trade closed: target reached
Direction has been confirmed meanwhile, as proposed. Let's see how fast it goes down. The faster, the lower. I tend towards not to see us end up in the lower 20s, because the last bull run did not reach for moon either.
Related publications
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.