Short-btc
Bearish Divergence on Daily BTC Chart and Channel ResistanceIf we look at the current situation, we are faced with an unexpected rise in the BTC table, considering both the USA inflation data, the global markets and the US Dollar Index .
We've come to the resistance zone of an already rising channel , as if that wasn't enough, there is a weekly period death cross presence. In addition, there was a serious negative mismatch between the price and the relative strength index in the daily timeframe .
Considering these data, it would not be surprising if the price tries the channel subband $18.5K from this point.
BTC 1W Double TopBitcoin has formed a double top formation on a 1W time frame, potentially breaking 200D SMA and falling through the gap on VPVR on the right to the first serious support in orders history. The price target is 17450, which means a retest of a 17500 round price resistance. Waves have shown a local top, and the aggression of selling is now below zero. Of course, there is still time for a week to close without a sell signal, but considering how fast the price and BTC dominance are dropping, I felt the need to share a thought. Also, there is a double top on the weekly RSI that is not shown on this chart that you might consider. And keep in mind that 200D SMA is a serious support. If broken, this market-manipulated bull run is over.
The Hidden Negative Divergence of BTCWe have already broken rising trends and channels in a short time range.
It seems to have strengthened the effect of MR.Powell's explanations in the fundemental analysis section in the fundemental analysis section, which we have been exposed to in recent weeks and the negative incompatibility of the daily period and the price of the daily period and the relative power index.
As if it were not enough, there has been an obvious hidden negative incompatibility in terms of price and relative power index choice during the weekly time interval.
I think that the decline will last up to $ 18.500 and we can start to focus on the $ 12-14K band depending on the reaction it will receive or get from those.
BTC IS GOING TO TANK!! SELL OFF COMING!Fullly aware that crypto market is in the dirt right now. Common sense is that even with a larger 1 trillion market cap price is still falling. which means all previous price data is inaccurate representation of its true value. aka a bubble.
this leads to new price discovery around the 10k mark. when price gets below 15k we will see a massive pull out of retail traders allowing institutions to come in with regulatory changes.
If in fact this prediction is correct, this will be a continuation of a bear market. Expect news of china and Russia continuing war efforts against Taiwan and Ukraine. The true value of bitcoin is probably around 4 to 5k.
I expect to see btc being worth 9k this year. I personally dont think the community in crypto is as smart as think. that being said, despite my btc price prediction. I think that the us stock market is going to go up higher.
Typically they have been correlated to a high degree but i dont think now that that will be the case going forward. But I will be taking shorts on the stock market as well to make sure I am balanced in case of a sell off.
Side Note::: If btc breaks above 25k this week I will have to change my mind. I see 25k as a huge psychological level. as we went from 27k to 21k in a matter of days previously. and Have not returned to 27k in over months.
happy trading. I have posted a video about this long term trend on my channel! Take care!
BITCOIN - A Head And Shoulders Within A Head And ShouldersWe are completing a HS pattern, and as we do so we are potentially forming the right shoulder of a much larger pattern. A fractal within a fractal if you will. I think we will go find that 200ema below but not sure the bounce will be great or bullish. I am thinking most all markets are a bit wrecked. Time will tell. Not financial advice, DYOR.
₿ Bitcoin Moment Before Fall ₿₿ Bitcoin Moment Before Fall
₿ Nearest strong support zone: around the 0.236 level of the upward wave.
₿ Nearest strong resistance zone: around recent highs.
₿ Technical environment:
- Moving averages: Uptrend
- MACD: Downtrend
- RSI: Uptrend
₿ Price action: Bitcoin over the past few days has no desire to continue the uptrend, exactly as I wrote in the last post, it started forming a flag formation. The only thing I can expect from such a formation at this point (after such a strong breakout) is an imminent downward crash. The closest target is the fibo level of 0.236 of the upward wave.
₿ The scenario I'm playing out is a breakout from the flag formation to the bottom. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
₿ Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
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A rebound from a strong resistance level. Time to sell The asset grew strongly in volume. We observe a large shadow in the area of the round number - $ 0.37, which indicates the strength of sellers in this place. In history, this level worked well. I expect a rebound from the level and movement to the area of the voluminous level of POC - 0.35$
A breakthrough is already underway. Time to open a sell positionThe price after a strong fall went for correction. For a long time it was traded in the sideways. The market is extremely negative. Volumes are reduced. Once again approached the level of 33.28 $. I expect a breakout and a movement below. The first goal is a local minimum of $ 32.66
Doomsday.Here on the daily chart, we have a rather rare signal. A daily WAVE PM cross, with the CCI pointing bearish.
Here is the previous instance, November 2018, where this signal fired. This resulted in a 50% drawdown.
We'll know pretty quickly if this scenario is playing out, where if price can recover above the 1900s in the next few days price should hold as an easy opportunity to stop out. If not, expect freefall for the next several weeks. This is an incredibly reliable signal on the daily chart. It happens only one or two times a year and has resulted in a percentile move in the double digits every single time.
We'll need a close beneath 17500 today for confirmation.