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Fearful Bitcoin-Bulls Retreat After Intense Fighting - Now What?Good Evening, my friends! :) D4rkEnergY is live from Seoul - 2 AM - with another Bitcoin update for you guys! I have been long the last 3 days, and Bitcoin has also gone up. I warned you about exactly 8,640 USD, which IMO was a really crucial hurdle to go through. We got rejected 2 times really hard at around 8,635 USD. The fearful bulls had to retreat after intense fighting with the big brown and greedy bears. First of all, let me stress, that I'm still super bullish on Bitcoin mid-term. When many people were calling 7,200 USD, I told you, that we probably would be surprised and get a reversal before. And I'm still convinced, that we very soon will go into a bull market. As it looks now we probably have to take detour though. Yesterday I mentioned a possible WXY-combination pattern if we got rejected at 8,640 USD - and it seems like we have to go lower now before we can try another attempt to go into a reversal. Please pay attention to the Hidden Bearish Divergence on both MACD and RSI, which is a continuation pattern, which predicts we will continue lower. Also a Bearish MACD-cross is on its way. It means that the bulls have lost their momentum. So as you can see we have 2 scenarios. A bullish 20 % scenario, which means that we have to sideways for a while, and with some kind of help from whales we might make some kind of spike - have seen something like that lately with similar patterns. I'm 80 % bearish at this moment, which means, that we will go through the dotted uptrend line eventually, and then down in the green box around 8,070- 7,560 USD- Most likely in the 7,750-7,650 USD area. Hereafter we can expect an uptrend again - I promise to keep you updated! D4 Loves You <3 As always: If you like what I'm doing please give a LIKE - It is much appreciated :)
BITFINEX:BTCUSD
by D4rkEnergY
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