Hey readers,
I am keeping my focus on the weekly chart. Stay objectif. Only what the chart is telling is true. For me it looks like that that bitcoin is begging for a deep correction. Buyers are stubborn but will eventually lose against the inevitable rollercoast to the downside.
Double top clearly visible?
Very steep and parabolic move to 13.8k. A mini bubble after the big one in 2017 I was looking for. The extented corrective wave to the upside should be finished by now.
First of all I didn t expect that bitcoin would go that high. And even now still a lot of respectabe authors telling us that this is a flat correction and further uptrend is coming.
I am keeping my eye one different indicators. I expect a bounce at 21 weekly MA (around 9.4k). If this moving average breaks hell will go loose for buyers.
MACD weekly , is for me, showing that momentum is changing to the sellers.
I think as long if the descending triangle is not broken we can expect a huge correction to the downside. As a buyer for now i am looking at 7k levels. Bump or huge break to the upside?
What do you think?
I am keeping my focus on the weekly chart. Stay objectif. Only what the chart is telling is true. For me it looks like that that bitcoin is begging for a deep correction. Buyers are stubborn but will eventually lose against the inevitable rollercoast to the downside.
Double top clearly visible?
Very steep and parabolic move to 13.8k. A mini bubble after the big one in 2017 I was looking for. The extented corrective wave to the upside should be finished by now.
First of all I didn t expect that bitcoin would go that high. And even now still a lot of respectabe authors telling us that this is a flat correction and further uptrend is coming.
I am keeping my eye one different indicators. I expect a bounce at 21 weekly MA (around 9.4k). If this moving average breaks hell will go loose for buyers.
MACD weekly , is for me, showing that momentum is changing to the sellers.
I think as long if the descending triangle is not broken we can expect a huge correction to the downside. As a buyer for now i am looking at 7k levels. Bump or huge break to the upside?
What do you think?
