Update on BTC, Run is showing bearish signs
Feel free to scroll out, zoom in, whatever you need to do. There is a LOT going on in my charts but I promise you, it's not analysis paralysis. All my fib lines and circles have been on the chart for quite some time and has been serving me quite well. This rally is far from over, but we are due to correct and most likely test the previous 2017 high as support, which should line up with the 21 weekly moving average as well. Keep trading simple guys! My rings have been on my chart for quite some time now and, well. we hit the last ring. we might meet up with the 1.618 fib extension, however since everybody and their dog has their eyes set on that number as a target so I dont think it will reach 30k.
What I'm looking for. 1, If the tentative bearish divergence confirms by closing lower than the previous low, then it's going to 19600 range. Don't get caught up in that moonboy BTFD mentality because when bitcoin has a nice run like this you can expect whales to take profit any moment now, especially when the indicators are screaming unsustainable, and losing strength.
2, we wont go straight down, it will play out some sort of larger pattern most likely will take 3-4 weeks to actually resolve, so don't get impatient on the market.
IF I'm wrong and we whit 30k and continue, then I would think all the market makers are insane to NOT want a 30% correction here. Market makers have one job, to make a market, and they are doing an incredible job.
Also, you can clearly see large hidden sell walls driving the price down. It's just a matter of IF they let up, or if they don't.
Pay attention to TOTAL ticker too. It says a whole lot more than just bitcoin here.
What I'm looking for. 1, If the tentative bearish divergence confirms by closing lower than the previous low, then it's going to 19600 range. Don't get caught up in that moonboy BTFD mentality because when bitcoin has a nice run like this you can expect whales to take profit any moment now, especially when the indicators are screaming unsustainable, and losing strength.
2, we wont go straight down, it will play out some sort of larger pattern most likely will take 3-4 weeks to actually resolve, so don't get impatient on the market.
IF I'm wrong and we whit 30k and continue, then I would think all the market makers are insane to NOT want a 30% correction here. Market makers have one job, to make a market, and they are doing an incredible job.
Also, you can clearly see large hidden sell walls driving the price down. It's just a matter of IF they let up, or if they don't.
Pay attention to TOTAL ticker too. It says a whole lot more than just bitcoin here.
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