Possible Short Scenario // BTC

24 พ.ค. 2019

Slightly descending triangle in combination with Daily RSI and MACD show a exhausted market.
Fib retracement is showing a pull back to around 6000/5500.

24 พ.ค. 2019

บันทึกช่วยจำ

Watch out for stop hunts. Market manipulation is ON. In normal market conditions the market would have pulled back already after the second double top and should’ve been consolidating at this moment.

8k is a clear resistance level and the longer the price is staying around this price the more unsustainable it becomes.
Investors are getting nervous with these indicators showing bearish signals.

Nevertheless, if a large bullish volume spike arises, the bullish chances are limited tot 9.5k (fib retracement).

Market exhaustion has is clear and pull back is imminent. BTC always falls back to the 200MA (red zone).

24 พ.ค. 2019

บันทึกช่วยจำ

Just now, the third conformation of the descending triangle. This is a MAJOR bull-trap caused by a stop-hunt.
The whales are playing with all of us. Now they want us to think to go long, when we really need a healthy correction. The longer this goes on, the bigger the fall will be.

The descending triangle is almost 70% completed, so be prepared for a major move to the downside or a limited move to the upside. Good luck !