BitcoinShort
A correction must happen, breakdown levels to expect
* Base from how I draw my charts, BTC already broke its rising wedge pattern since July 21.
* We are high in MACD and oversold in RSI.
* Multiple bearish divergences in RSI, MACD and other indicators.
* Decreasing volume in daily, meaning less and less traders are opening (L/S) positions each day.
* No significant corrections happened yet just like how corrections occur during our 4 previous ATH. (see below)
* 5 straight green candles in weekly, since 2017-2018 5-8 straight green weekly candles are, most of the time, opt for reversals.
* IMO 5th wave is completed and we are opt to have an A-B-C correction.
* September is coming. Historically, month of september is nothing but dumps in BTC.
* And potential black swan event. (a FUD, might happen this september to october)
Previous ATH Corrections:
- 12.9k correction (Jan 9)
- 15k correction (Feb 24)
- 11.5k correction (March 14)
- 14.7 to 18k flash crash (April 14)
Any thoughts?
* We are high in MACD and oversold in RSI.
* Multiple bearish divergences in RSI, MACD and other indicators.
* Decreasing volume in daily, meaning less and less traders are opening (L/S) positions each day.
* No significant corrections happened yet just like how corrections occur during our 4 previous ATH. (see below)
* 5 straight green candles in weekly, since 2017-2018 5-8 straight green weekly candles are, most of the time, opt for reversals.
* IMO 5th wave is completed and we are opt to have an A-B-C correction.
* September is coming. Historically, month of september is nothing but dumps in BTC.
* And potential black swan event. (a FUD, might happen this september to october)
Previous ATH Corrections:
- 12.9k correction (Jan 9)
- 15k correction (Feb 24)
- 11.5k correction (March 14)
- 14.7 to 18k flash crash (April 14)
Any thoughts?
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