Bitcoin : I'm bearish since the first time and so what??
Hello all, the bitcoin update is up again during this very crucial market update. Let's enjoy this technical analysis!
We've seen a violent 8% drop since the high of today's candle. This is also once again confirming the white area which is the major resistance and the confluence zone of the 200 MA, golden pocket and previous broken support that is now become resistance.
For me, a spike to the upside with current parabolic moves since $6500 is no more than a dead cat bounce. Which I've already give a clear explanation in my previous analysis. And for the elliot wave structure, it looks like that my bias is still holding true and with this rejection candle in the daily, we might see the next potential of lower low pattern around $5500 region.
I will give you more detail analysis after the weekly candle closes. With current momentum and price action, My bias is extremely bearish. And for the people who predicts the new ATH for this 2020, it's still a long way to go and for me, it's almost impossible to see their new ATH in 2020. Later on the next analysis, I will give a detail explanation about this.
We've seen a violent 8% drop since the high of today's candle. This is also once again confirming the white area which is the major resistance and the confluence zone of the 200 MA, golden pocket and previous broken support that is now become resistance.
For me, a spike to the upside with current parabolic moves since $6500 is no more than a dead cat bounce. Which I've already give a clear explanation in my previous analysis. And for the elliot wave structure, it looks like that my bias is still holding true and with this rejection candle in the daily, we might see the next potential of lower low pattern around $5500 region.
I will give you more detail analysis after the weekly candle closes. With current momentum and price action, My bias is extremely bearish. And for the people who predicts the new ATH for this 2020, it's still a long way to go and for me, it's almost impossible to see their new ATH in 2020. Later on the next analysis, I will give a detail explanation about this.
