Bitcoin Weekly | Major BD-Signal In The Making (BBMA)

3 thg 7, 2024

A major bearish signal (BD-Signal) is now in the making when looking at Bitcoin through the weekly timeframe chart... Let's jump in!

But first, how are you doing?
I hope this day and week fills you with joy, growth, knowledge and all the pleasures life has to offer... I hope your journey toward enlightenment continues to improve.

If you are not in a journey toward enlightenment, then you should consider it.

Ok... Let's look at the chart.

➖ Bitcoin is moving weekly below the mid-pace exponential-moving average of twenty one periods. The last time this happened was November 2021, after a major all-time high in prices.

➖ This is the first time this events happens in almost three years; Bitcoin moving below this major ma coming from a new ATH.

What does this means?

👉 This means that a major crash is ahead of us... By "ahead of us" I mean soon, really, really soon... The biggest crash since 2021. It will be fast and strong.

Namaste.

4 thg 7, 2024

Ghi chú

Based on the weekly timeframe, it is still early but we have full confirmation of the move we've been tracking for the past few months.

For this analysis, EMA21 weekly is the relevant signal/indicator.
The week still has 3.5 more days to go before closing thus plenty of time.
A close below 61,300 confirms the major bearish signal, so it is possible that the biggest crash will actually develop.

5 thg 7, 2024

Ghi chú

The above mentioned bearish signal confirmation is not yet in but basically confirmed. A confirm break of EMA21 as support would lead to a minimum price of around $48,400. Since $48,400 is a very week level; Bitcoin didn't trade here for more than a few days, we can expect to see the next main and major level to be tested at the least. This major level sits at $42,855.

The bigger portion of the bearish move is yet to materialize.
The altcoins will bottom before Bitcoin but these too will continue to suffer for a while.

The ALTSBTC can look good and safe as predicted long-term.

Namaste.