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BTC, getting ready for DEEP dive. Stay out of market for now.

hi guys. its mecard again.

btc movement has turned slow, after the big drop. many are saying differently in different messages..

but i have to say that this up cycle movement is almost to its end. that means this can still go for some time, but the

level of upside movement is very limited.

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as you see in the daily chart, btc, is finally being resisted by daily ichimoku base line. after like few month? finally..

the moving average finally came up so high in price. seems like the movement like last november.

as you see we have almost classic setup for big fall. macd curving down, bearish divergence made, will take LONG time to

wash the bearishness off. mostly, we are hovering on a support/and resistance line on this ascending channel, which is

very bearish with no divergence on low time frames, and daily too.

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just look at this weekly chart. cannot believe how topped we are now. very top of bollienger band, 50ema now resistance

in just few weeks if we maintain this price we will reach weekly ichimoku cloud...no.

i would really want anybody tell me some reasons why we should go up at this level. some say that shorts are way too much,

some say longs are way too small...no...in many cases, just being a contrarian to the herds did not mean so much.

just like last time when, at 6.4k levels people though we would go 7k. but we went to 3k levels. people mostly longed at that time.

Most importantly, when price is so much different from bitfinex, 300 dollar spread, no. manipulation through tether, along

with instability in markets, market dropped.. now, below chart is bringing massive confusion to btc market where, alts will not have any kind of confidence.

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in a situation like this, what is best is to preserve, protect your capital.

you try for 5% profit, but end up with -25% loss.

small time scalping can be possible only. of course, it can go up. but not by technical analysis. through logical sense this has no

reason to go up and make higher high. low time frame, you will see two choices.

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scalp btc 100 points to 5300, or see it falls down to 4900/5000 or even lower. but not...consistent enough at now price. will see if any divergence forms in the next days.

happy trading!
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