without_worries

Bitcoin going to $4.2k?

ลดลง
without_worries ที่อัปเดต:   
GEMINI:BTCUSD   บิทคอยน์
Not popular thing to say I know.. but I'm not saying it, the chart is.Although not the BLX chart, we'll have to wait a few more day. However if the head & shoulders is confirmed (and 3-day charts are not to be ignored) then the drop will be a new opportunity for many. I think $7k is certain for the simple reason.. we've not yet tested support on the 200-day moving average as in the last bull run. That's huge. Furthermore the oscillators are indicating more downward movement, most notably the RSI. Have a close look, it has tested the indicated trend line not once, not twice, but three times and been rejected. This is a worrisome indicator for any bulls out the there. Strong resistance such as this will not be easily overcome.
การซื้อขายยังคงดำเนินอยู่:
Revised to $5.2k. Don't know how many people are paying attention to the monthly chart.. but they are very powerful and not to be ignored.

The monthly chart clearly shows us a gravestone DOJI and Stochastic RSI crossing down. Yes, long term bullish but not before a retest of $5.2k.

การซื้อขายยังคงดำเนินอยู่:
Where does the bleeding end. I don't think we'll get all the way to $4.2k, but $4.8k to $5k seems likely if the last time the RSI was down here is anything to go by. My indicator (with colourful bands) uses three oscillators, money flow, RSI, & Stochastic RSI, whilst adjusting the used coefficients for bear or bull markets. The last time it fired orange indicated a massive oversell. We're at this position again, which takes approximately 30 days to recover.

การซื้อขายยังคงดำเนินอยู่:
These two charts are painting a vey bearish outlook. An Elliot wave pattern across dominance:


The rate of price correction indicated by the tightening Bollinger Bands on this 1-day chart is suggesting a big move to the downside is imminent.

ความคิดเห็น:
การซื้อขายยังคงดำเนินอยู่:
3-day death cross - now we were for support on RSI. Be patient, wait until the moon boys are rekt.

ความคิดเห็น:
should read "now we wait"
ความคิดเห็น:
So far so good - 21 week about to cross down the 200 day just as it did before (circled in blue).

การซื้อขายยังคงดำเนินอยู่:
If this RSI resistance continues to hold in the coming days then expect a significant price correction. A breakout with following support would be very bullish. Until then this trade remains open.

การซื้อขายยังคงดำเนินอยู่:
While the internet is going crazy with BTC breaking to new highs.. the resistance trend line reminds us something uglier could be in store. If the resistance continues to hold price will likely fall to $5.4k.

การซื้อขายยังคงดำเนินอยู่:
If something amazing by midnight tonight CET time does not happen then we'll have ourselves a confirmed Gravestone DOJI on the 3-day chart. It is unlikely to be a false signal given the height of the Stochastic RSI.

A confirmed rejection from this trend line would mean price action landing around $5.2k, which just so happens to be golden ration & 200 week moving average as shown below.


ปิดการเทรด: ถึงเป้าหมายการทำกำไร:
The power of a head & shoulders formation - not even I believed my own chart at the time of publishing!

Are we going down further to $1k? $2K $3k like all the Youtubers are screaming for? Absolutely not. 99% certain we're only going up from here.


BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: www.patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR
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