Epic_economist

Epic_economist

Volume pattern indicative of distribution, rsi bearish Divergence. The recent impulse wave to 51.5k is likely a bull trap to grab liquidity for distribution.

Epic_economist

Once the price faces rejection at weekly timeframe (with decisive volume resulting in wicks) at a fib level such as the 65k and subsequent 52k as shown then it's highly unlikely for btc to recover fully to those local highs until the next bull run cycle. Furthermore look at the declining overall volume with increasing red bars and decreasing green, the volume...

Epic_economist

This manipulation pump of the back of recent ridiculous news about fed not banning btc is really the definition of what happens right before btc crashes. This pump happened in under 10 minutes by the way. If you look at the volume bars for the last 6 weeks the sellling pressure has only been getting bigger whilst the buying pressure has only been getting lower. I...

Epic_economist

As indicated buy volume has been decreasing whilst sell volume has been increasing. It's a simple explanation and yet powerful as price action ,volume, and trend is king. All 3 of these have been to the downside on the higher weekly time frame ever since btcs all time high many months ago.

Epic_economist Updated 

Momentum coming down and volume is decreasing while price is increasing. This looks very much like the early warning signs of a coming distribution. The path on this chart drawn is just one of the possible distribution patterns, it could happen in other ways but the end result will nonetheless be similar.

Epic_economist

Classic Elliott wave corrective pattern. Search up Elliott wave corrective expanding triangle and see how it matches up with this forecast. This was a false breakout and a trap set for the bulls.

Epic_economist

Don't fall for the hype. Chart is self explanatory

Epic_economist

So obvious and yet so out of mind, it's only a matter of time before this bs facade comes back to reality. Right when people think the worst is over, that's when they will pull the rug to reset the markets. People are so out of touch with reality and out of their mind that they are living in a dream world , soon they will learn a tough life lesson when they find...

Epic_economist

Similar pattern to what it did previously. Just a theory as to what could be coming

Epic_economist

It seems improbable but these patterns are very common and tend to repeat

Epic_economist

Btc is at a resistance level that coincides with many trendlines. Within the broader context the latest pump is likely a trap and it's likely to dump to the 382 fib level of about 26k.

Epic_economist

Alot of confluence for this to play out so watch out

Epic_economist

This is just an idea of what could be forming.

Epic_economist

Watch out if btc doesn't close above 41.5k to stop the lower highs it's been printing. all the signs are suggesting that this was a pump to lure people in before the crash.

Epic_economist

The latest move that came out of nowhere was just a coordinated cash grab. Here comes the lower high and the beginning of the next big down move. People are thinking the latest move was bullish but it was the worst thing that could have happened for bulls.

Epic_economist

The dollar is at multiyear support. Bitcoin is strongly negatively correlated to the dollar. Unless there is a behavioral change in bitcoin as well as the dollar compared to their last 11 years together then the path that they are most likely to follow is the one that I have drawn for you here. It would be irrational to believe the feds narrative and what the...

Epic_economist

The likely support that will turn into the next bottom will be around one of these areas which have confluence with Fibonacci/moving average levels and these areas are also where the price meets with previous trends. If 30k fails to hold which is looking likely based on how strong the breakout to the downside was then 13.5k will likely be seen since 20k is a...

Epic_economist

The inverse chart dispels bias and reveals the dark truth about what is really going on with the recent price action that has turned Bullish. Either this week or at the latest next week we are likely to see continuation of the breakout that has occured to the downside. This small pullback to the upside is expected after such a large breakout (to the downside) and...