BTC Bearish. Be Aware....Bitcoin is in for a scare.....

26 mar 2018

***This is not financial advice***

In The News - Fundamental Sentiment
Mainstream Media:
- Bitcoin -0.55% transaction fees becomes super cheap.....10,000 for 1 cent....What???
- French minister reckons he won't miss the blockchain revolution.
- G20 overall positive on Crypto.
- 2 Australian state politicians have bitcoin -0.55% holdings...

Bullish Sentiment

Social Media:
- Belarus adopt crypto accounting standards. I don't even know what this means.
- Misleading partnership announcements.
- Typical reddit Bullish propaganda.

Bullish Sentiment

How is she?
- BTC -0.55% ....She is running from me. I'm going to let her go. Free fall and come back when you are ready baby.

Technical Analysis
On the hourly charts:
- Volume is low...
- Bullish candleshicks
- Below all the main moving averages.
- Squeeze indicator negative
- RSI indicator going down!

Bearish Trend Confirmed

What am I doing? This is not financial advice
- Tether until volume and trends pickup
- I am really worried that there is positive news / fundamentals but it is really negative from a technical point of view...This suggests a crash is imminent but we will see.

So what happen to my Elliot waves? A flat ABC formed previously...This suggests a soon to come impulse however we have had 2 ABC corrections meaning an overall bear trend and an upcoming 1-5 impulse bearish correction wave (wave 5). CBB drawing it but be aware....


THERE IS ALSO A BIG M forming. Better known as a DOUBLE TOP . Be aware for a >15% correction that has a good probability of occurring.