Now it would seem time wise we are approximately 2-4 weeks from capitulation, or atleast another major buying opportunity. BUT we also drop sooner, can see this and the next weekly be very red as another possibility.
We have identified 2 other prior situations in which the technicals line up nearly exactly with - both leading to major crashes.
Timing is somewhat 'coincidentally' lining up closely with the 12th September being when CME derivates for ETH launch... wonder why then?
Now we see in what manor this will play out, unlikely like the most recent drop which took longer to play out (40-20k) and more likely will be a violent event like the 65-40k drop. WHY because the B-bands are constricted and ready for major expansion, more similar to the first instance.
Trading wise, this is an easy short - low leverage just hold it out.
Or if you are into more risk look for 21.5-21.9k as a potential scam wick upward and jump on the rejection, with medium leverage.
I have still got low leverage shorts on from 23k which i will leave open, and shall be adding some more capital to the shorts as we enter the final 12hours remaining of this 2 day candle, after that we should be peaked and looking to fall.
DON'T long a falling knife and become exit liquidity for MM (or attempt longs now, unless scalping) - the bullish market delusion that we will have another return to bullish action is factually wrong and not to be expected. BTC IS a speculative asset right now, until traditional markets get on board. Price can and and will continue falling/consolidating at low/lower levels for ALONG TIME... thats how this game works until big money is in.
Good luck
Asset Mastery
We have identified 2 other prior situations in which the technicals line up nearly exactly with - both leading to major crashes.
Timing is somewhat 'coincidentally' lining up closely with the 12th September being when CME derivates for ETH launch... wonder why then?
Now we see in what manor this will play out, unlikely like the most recent drop which took longer to play out (40-20k) and more likely will be a violent event like the 65-40k drop. WHY because the B-bands are constricted and ready for major expansion, more similar to the first instance.
Trading wise, this is an easy short - low leverage just hold it out.
Or if you are into more risk look for 21.5-21.9k as a potential scam wick upward and jump on the rejection, with medium leverage.
I have still got low leverage shorts on from 23k which i will leave open, and shall be adding some more capital to the shorts as we enter the final 12hours remaining of this 2 day candle, after that we should be peaked and looking to fall.
DON'T long a falling knife and become exit liquidity for MM (or attempt longs now, unless scalping) - the bullish market delusion that we will have another return to bullish action is factually wrong and not to be expected. BTC IS a speculative asset right now, until traditional markets get on board. Price can and and will continue falling/consolidating at low/lower levels for ALONG TIME... thats how this game works until big money is in.
Good luck
Asset Mastery
