BTC/USD - Highest level of selling pressure in BTC in 2018

19 thg 8, 2018

As you can see in this chart (see the red arrow in the lowest chart), the Chaikin Money Flow now shows the highest (deepest) level of selling pressure in all of 2018. Very bearish.

I'm not going short though. I'm on the sideline with 100% cash, waiting for a break-down in price.

19 thg 8, 2018

Ghi chú

I now think that first, short term, there will be a short squeeze. I can see it building up. I'm now long.

19 thg 8, 2018

Ghi chú

I think we may see a short-term rally until below the 200-day MA (now around USD 7,800), creating sort of a double top. That's my contrarian view right now.

20 thg 8, 2018

Ghi chú

If selling pressure is at the highest of the year and BTC doesn't sell of, then that's a bullish divergence, right? An early bullish sign.