BitcoinGiá xuống
BTC/USD - Bulls Folding or Fake Out to come? @AlpoCrypto
BTC/USD - I get asked a lot - When will the bulls be back? My answer is simple, we all want to be bullish but when the facts on the charts are pointing toward an ultimate bearish scenario a bulls mind can change very quickly.
What we are seeing on the daily chart above is a huge 16 week accumulated wedge on BTC. We had a double top around the $7,750 - $7,800 mark which was almost one of the most predictable moves ever. We also dropped out of the falling wedge on the 4 hour time frame and found huge resistance on the previous support.
I do think this market wants to see a lower BTC price and I feel a bearish market cycle needs to end in complete pain on some peoples ends, it needs to shake out literally every person that cant handle any more.. Are we close? Hmm I think we are although I play the charts as I see them and at the moment I feel a daily close below this wedge would give us the confirmation of a 6k region BTC even potentially lower if key supports are broken.
A hold on the support here would be a great sign that there is buying pressure in this market.
A scenario to definitely watch out for is a huge fake out. A long wick here on the daily to hunt stop losses and liquidations would be an ultimate bear trap. So I wouldnt be tethering or taking huge short positions till we close below on the daily. Dont be foolish for a few hundred dollars.
Lets see how this plays out.
Message me on Telegram @AlpoCrypto to chat or join my VIP signals group.
What we are seeing on the daily chart above is a huge 16 week accumulated wedge on BTC. We had a double top around the $7,750 - $7,800 mark which was almost one of the most predictable moves ever. We also dropped out of the falling wedge on the 4 hour time frame and found huge resistance on the previous support.
I do think this market wants to see a lower BTC price and I feel a bearish market cycle needs to end in complete pain on some peoples ends, it needs to shake out literally every person that cant handle any more.. Are we close? Hmm I think we are although I play the charts as I see them and at the moment I feel a daily close below this wedge would give us the confirmation of a 6k region BTC even potentially lower if key supports are broken.
A hold on the support here would be a great sign that there is buying pressure in this market.
A scenario to definitely watch out for is a huge fake out. A long wick here on the daily to hunt stop losses and liquidations would be an ultimate bear trap. So I wouldnt be tethering or taking huge short positions till we close below on the daily. Dont be foolish for a few hundred dollars.
Lets see how this plays out.
Message me on Telegram @AlpoCrypto to chat or join my VIP signals group.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.